Tuesday, 16 September 2014
Last updated 11 hours ago
Jun 15 2010 | 7:03am ET
The Securities and Exchange Commission has closed a two-year-old probe into Third Point, the hedge fund told its clients.
In its quarterly letter, the New York-based activist shop wrote that “the SEC has dropped the investigation it initiated in 2008 concerning our communications with other hedge fund managers.” The regulator launched that probe that summer, after Third Point had registered as an investment adviser and been subjected to its first SEC audit.
“During the course of the audit, the examination staff noted that we regularly communicate with portfolio managers at other hedge funds about investment and trading ideas,” Third Point founder Daniel Loeb wrote to investors at the time.
But in its quarterly letter dated Friday, Loeb said the SEC has said that “no further action” will be taken against his firm.
The letter was obtained by Dealbreaker.com.
“We remain registered with the SEC, and believe that the exacting standards of compliance to which we adhere are consistent with industry best practices.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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