Sunday, 28 December 2014
Last updated 38 min ago
May 18 2012 | 4:07am ET
Connecticut authorities have accused a Norwalk hedge fund manager of stealing some $845,000 from his hedge fund.
According to the state's Department of Banking, Ronald Marvin wired more than $700,000 from his RMV Partners to himself. He also allegedly wired another $145,000 from RMV's account at Sloan Securities, where he was a broker-dealer. Marvin repaid the latter amount, but was still fired and barred from the industry by the Financial Industry Regulatory Authority in October for it.
The Banking Dept. said Marvin stole the $700,000 after he was barred.
Connecticut did not say how large a fine it would seek against Marvin, who is permitted to contest its findings.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.