Author Archives: the HedgeCo News Team
NASD Fines James River CEO $2.25M for Alleged Improper Market Timing
Law.com – Securities regulators have imposed a record $2.25 million fine on the chairman and CEO of hedge fund James River Capital Corp. for allegedly using deceptive practices in trading in thelong-term investments known as variable annuities. The National Association […]
Is regulation the right response to hedge funds?
IR Magazine – Leading IR professionals and investors gathered in Zurich yesterday to debate the most pressing issues facing the IR community. Both groups expressed concern over the prospect ofregulatory intervention, even with respect to unruly hedge funds. Unsurprisingly, Charles […]
RBC acquires Carlin to increase hedge fund clientele
Financial News Online US – RBC Capital Markets will acquire trading-system provider Carlin Financial Group in order to grow the investment bank’s reach with hedge funds. Greg Mills, global head of equity sales and trading for RBC, said the primary […]
Hedge Fund Manager Goldstein Wants Out of Disclosure Regs
Phillip Goldstein, who became a hero to hedge fund managers everywhere when he beat the Securities and Exchange Commission and its regulation requiring funds toregister with the agency, is at it again. This time, he is trying to opt out […]
Indian Stock Prices Rising
HedgeCo.Net (New York) – India is at the top of the BSE index in emerging markets with a 30-share benchmark. The country’s trading has recovered from a steep sell off earlier this year to hit a record high last week […]
Americans hope hedge funds can make them rich
Reuters – Americans are betting that hedge funds will make them rich even at a time when these once high-flying portfolios are lagging behind the broader market. Research firm Morningstar Inc. polled 600 advisers in August and found that 65 […]
Hedge funds charm Main Street, though few understand them
Marketwatch – Hedge funds are mainstream. Once fanciful fodder for cocktail conversation and ego-driven symbols of whose portfolio is bigger, hedge funds have joined the ranks of Joe Sixpack. Morningstar, the mutual fund data and tracking organization, and Research magazine […]
Hedge fund fraudster gets four year sentence
A Hong Kong fund manager who siphoned $194.5 (€154.7m) million of clients’ cash into dummy companies to hide losses in other investments has been jailed for four and a half years. Charles Schmitt left more than 1,000 clients out of […]
RBC CAPITAL MARKETS TO ACQUIRE CARLIN FINANCIAL GROUP
HedgeCo.net NEW YORK AND TORONTO, October 25, 2006  RBC Capital Markets announced today that it has agreed to acquire the broker-dealer business and certain other assets of the CarlinFinancial Group (the “CFG Businessâ€Â), a New York-based boutique broker dealer […]
Alternative Investment Pros Launch New Firm
HedgeCo.net – New York – Greg Brousseau and Mitchell Tanzman, former heads of the UBS Financial Services Alternative Investment Group, have launched Central Park Group, LLC. Strategic investors inthis new investment advisory firm include Bear Stearns Asset Management (through Bear […]
Berkowitz Opens Hedge Fund, Betting Big on Stock Market
New York Sun – David Berkowitz, whose Gotham Partners LP closed three years ago after investor withdrawals and a government probe, raised about $155 million for a hedge fund to invest in stocks. Mr. Berkowitz and Joel Press, former head […]
SEC: Firms Still Allowing Market Timing
CCH Wall Street – Despite enormous fines, sanctions and top executives losing their jobs, the SEC continues to find evidence of market timing in the mutual fund industry. Just over three years ago, New York Attorney General Eliot Spitzer shocked […]