Tuesday, 21 October 2014
Last updated 4 hours ago
Feb 15 2012 | 1:16pm ET
A Brevan Howard Asset Management employee has denied allegations by Japanese regulators that he engaged in interest-rate manipulation while at Citigroup.
Japan's Financial Services Agency said that Christopher Cecere and another Citi trader in Tokyo asked bankers to change data submitted during the setting of a benchmark lending rate in Japan. Despite accusing Cecere, known as "Director A" in the administrative case concluded last year, of "seriously unjust and malicious" behavior, the regulator simply fined Citi and did not pursue Cecere or the other trader further.
Accordng to the regulator, Cecere and the other trader asked a Citi employee and employees at other banks in an effort to influence the Tokyo interbank offered rate to benefit their derivatives trades. The FSA did not say whether the scam succeeded.
But Cecere said that neither Citi nor the FSA bothered to question him during their investigation, and the Citi paid him the deferred compensation that he was entitled to only as an employee in good standing. Cecere said he did nothing wrong.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...