Monday, 20 October 2014
Last updated 2 days ago
May 19 2010 | 10:42am ET
The Securities and Exchange Commission is bringing out the big guns in its battle with Goldman Sachs.
The regulator’s deputy director of enforcement, Lorin Reisner, has joined its team in the case. The SEC accuses Goldman of misleading investors in a collateralized debt obligation that it allegedly structured and marketed on behalf of hedge fund Paulson & Co.
Reisner filed a “notice of appearance” in Manhattan federal court, saying he will participate in the case.
According to the SEC, Paulson played a role in selecting the residential mortgage-backed securities that went into the CDO, called ABACAS-2007-AC1, and then shorted the vehicle, buying credit default swaps from Goldman itself. But Goldman failed to inform the investors in the CDO, the SEC alleges.
Goldman has denied any wrongdoing, although it is reportedly seeking to settle the charges. Paulson has not been accused of any wrongdoing.
Reisner joined the SEC from law firm Debevoise & Plimpton. He spent four years as an assistant U.S. attorney in New York in the early 1990s.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...