Friday, 27 March 2015
Last updated 52 min ago
Jun 27 2007 | 2:55pm ET
The Securities and Exchange Commission has settled enforcement actions against London-based hedge fund GLG Partners for illegal short-selling in connection with 14 public offerings.
During a two-year period, GLG made more than $2.2 million in illegal profits in four of its managed hedge funds by committing multiple violations of an SEC rule designed to prevent manipulative short selling by covering certain short sales with securities obtained in a public offering.
“Foreign-based hedge funds that trade on the U.S. markets cannot turn a blind eye to compliance with the U.S. federal securities laws,” said Antonia Chion, associate director of the SEC’s Division of Enforcement.
Without admitting or denying the findings, GLG agreed to a cease-and-desist order and payment of more than $3.2 million in disgorgement, prejudgment interest, and penalties.
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…