Tuesday, 31 March 2015
Last updated 13 hours ago
Sep 24 2010 | 1:10pm ET
Hedge fund Carlson Capital has settled charges that it violated short-selling rules governing public stock offerings.
The Dallas-based hedge fund, without admitting or denying the Securities and Exchange Commission allegations, agreed to pay $2.7 million to settle the charges, including $2.3 million in disgorgement. According to the SEC, the hedge fund four times violated its “antimanipulation” Rule 105, which bans investors with a short interest in a stock five days before an offering from participating in that offering.
The SEC also charged the firm with have “insufficient” preventative policies.
In addition to paying the fine, Carlson accept a censure and an order barring it from further violations of Rule 105.
“Investment advisers must recognize that combined trading by different portfolio managers can still constitute a clear violation of Rule 105 when short selling takes place during a restricted period," said SEC associate enforcement director Antonia Chion. "This is true even when the portfolio managers have different investment approaches and generally make their own trading decisions.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…