Tuesday, 23 September 2014
Last updated 12 hours ago
Sep 9 2011 | 12:39pm ET
HSBC can't escape liability for its role as the custodian for a Bernard Madoff feeder fund for a mere $62.5 million.
A federal judge in New York has rejected that proposed settlement with investors in the Thema International Fund. U.S. District Judge Richard Berman blasted a number of "obvious deficiencies," including a provision giving $10 million to the lawyers in the class action suit to sue non-settling defendants outside of the U.S.
The proposed settlement is "not fair, reasonable or adequate, even at this preliminary stage," Berman ruled.
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.