Reuters – The U.S. Securities and Exchange Commission is taking a closer look at whether hedge fund managers abused a practice known as “side pockets” to prevent clients from withdrawing billions of dollars during the 2008 financial crisis, the Wall Street Journal reported on Tuesday.
Side-pockets are just one of several top priorities set by a newly created SEC enforcement unit focused on private equity, hedge fund and other asset managers, the paper said, citing people familiar with the matter.
