Tuesday, 23 September 2014
Last updated 8 hours ago
Mar 22 2007 | 11:48am ET
The Securities and Exchange Commission has distributed the $38 million it collected from a Texas hedge fund accused of illegally market-timing and late-trading mutual funds.
Approximately 810 mutual funds that the SEC says were victims of Veras Investment Partner’s scheme received a share of the Fair Funds, which represents all of the money in disgorgement and civil penalties paid by Sugar Land-based Veras and its managing members, Kevin Larson and James McBride.
Veras and its principals settled the SEC’s charges in December 2005, without admitting or denying the accusations. In its settlement order, the agency said that Veras had for almost two years used deceptive tactics to continue market-timing after it had been caught by mutual funds, in addition to its late-trading activity.
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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.