Saturday, 26 July 2014
Last updated 22 hours ago
Aug 19 2010 | 2:21pm ET
Och-Ziff Capital Management said yesterday that a regulatory probe into its alleged role in Lehman Brother’s collapse went “nowhere,” and that the Lehman estate should look internally for the source of a rumor that may have contributed to its demise.
The Securities and Exchange Commission probe went “nowhere because there is nothing,” Kenneth Bressler, a lawyer for the New York hedge fund, said. Och-Ziff is fighting a subpoena from Lehman seeking e-mails that it claims show a rumor circulating that Lehman had improperly spun-off debt to a hedge fund, R3 Capital Management, founded by a former Lehman executive. Lehman said it is not sure whether Och-Ziff helped start or spread the rumor, or whether it was merely a recipient.
In response, Och-Ziff points the finger at a n unidentified Lehman managing director as the source of the rumors.
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…