Author Archives: the HedgeCo News Team
Former Bank of America Broker Charged in Funds Probe
Sep. 17–The first charges were filed Tuesday in the sweeping investigation of mutual fund trading practices that allegedly cost investors hundreds of millions of dollars, and authorities signaledmore are likely to follow. Former Banc of America Securities broker Theodore Sihpol […]
Investors Frustrated by New York Stock Exchange Chief’s Pay, Hedge Fund Scams
Sep. 17–Once again, Wall Street finds itself under suspicion. More calls poured in Tuesday for the resignation of New York Stock Exchange chairman Richard Grasso over his hefty pay package. And the first criminal charges were filed in an expanding […]
University Endowments’ Back in Black
NEW YORK (AP) – U.S. university endowments produced positive investment returns in the last school year as they shifted more money into a rising stock market, according to a survey released Wednesdayby the Commonfund Institute. Commonfund, a Wilton, Conn., investment […]
Mutual fund industry disputes trading study
NEW YORK – As regulators step up their probe into allegations of improper activity by mutual funds, a new study suggests illegal late trading may be more widespread than previously reported. The study by Stanford University Prof. Eric Zitzewitz found […]
Texas Investors Lose Big in Troubled Connecticut Hedge Fund Sued by SEC
Sep. 17–A former high-flying Connecticut hedge fund company that once purported to have $1 billion in assets has apparently scorched several well-heeled Texans including Dallas’ Morton H. Meyersonand other prominent investors for millions of dollars. The Securities and Exchange Commission […]
Charges Filed in Mutual Fund Trading Case
NEW YORK (AP) – State and federal securities regulators filed criminal and civil charges Tuesday against a former employee of Bank of America over illegal mutual fund trading practices. New York Attorney General Eliot Spitzer announced felony larceny and securities […]
PR Newswire National Summary, Tuesday, Sept. 16, 10 a.m. to noon ET
<body.content> <block> <p>Following is a summary of news releases transmitted between 10 a.m. and noon by PR Newswire. The full text of these releases is available at the PRNewswire for Journalists, http://media.prnewswire.com/.</p> <p style=”pre” id=”pre1″> CGTU047 09/16/2003 10:00 r f […]
Putnam lands in Galvin’s sights; Fund trading inquiry no `fishing expedition’
Secretary of State William Galvin confirmed yesterday that his staff has launched a probe into possible improper fund trading at Putnam Investments in Boston. The Putnam inquiry is Galvin’s latest investigation into mutual fund trades and comes as the industry […]
Goodbye Dolly as PPL goes up for sale
DOLLY the sheep firm PPL Therapeutics caved in to pressure from hedge funds and put itself up for sale, the latest example of a British scientific breakthrough ending up a disappointment. Value investor and 21pc stakeholder Metage Capital was one […]
Mass. Regulators Eye Papers From Putnam
BOSTON (AP) – State securities officials were probing possible improper market timing at one of Putnam Investments’ international funds. Secretary of State William Galvin said Monday subpoenas were issued Thursday, regarding trades at the firm’s International Capital Opportunities Fund between […]
Probability best investment guide
Controversies that are testing investors’ faith in the stock market are to be expected following an unprecedented 17-year economic expansion and run-up in U.S. markets. Corporate wrongdoing, investment malfeasance and exorbitant salaries and benefits don’t surprise James W. Brinkley, vice […]
Former Bank of America Worker May Face Criminal Charges in Mutual Fund Probe
Sep. 16–New York and federal officials are expected to announce criminal and civil charges today related to the widening mutual fund investigation that has ensnared several large companies,including Bank of America Corp. In a joint press conference scheduled for noon […]