Saturday, 29 November 2014
Last updated 23 hours ago
Feb 12 2007 | 4:44pm ET
Disgraced hedge fund manager Kirk Wright, who is accused of defrauding clients including National Football League players, sustained a career-ending blow today. A federal judge in Georgia has ordered Wright to pay a total of $19.9 million in disgorgement and civil penalties for falsifying statements about his firm, according to the Securities and Exchange Commission.
In a span of seven years from February 1997 to February 2006, Wright and his firm, International Management Associates, allegedly falsified statements about the amount of his firm's assets and inflated the rates of return for the seven hedge funds under his management.
Wright’s victims included popular current and former National Football League players, who were blindsided to the tune of $20 million.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...