Tuesday, 22 July 2014
Last updated 2 hours ago
Mar 31 2010 | 2:30am ET
A Florida hedge fund manager has been cleared in a 2006 boating accident that left two college students dead.
Miami-Dade County prosecutors have determined that the Biscayne Bay collision was a “tragic, unfortunate and horrible accident.” They dropped a misdemeanor charge of violating navigational rules against the hedge fund manager, Roland Desrochers.
Desrochers’ boat, the Intrepid, collided with a three-boat flotilla. Florida International University students James Noel and Monica Burguera were killed. Noel had rented six boats for his friends to celebrate his birthday and was on one that died, which was being towed back to the rental company, Club Nautico. The towing boat also stopped to pick up another disabled boat that it came across.
Prosecutors determined that “the lack of lights on behalf of the tow flotilla of boats was a major contributing factor to the accident.”
Both Desrochers and Club Nautico have settled civil suits with the victims’ families.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…