Friday, 19 December 2014
Last updated 8 hours ago
Aug 28 2012 | 11:30am ET
A California hedge fund manager has settled allegations that he misled investors in his funds.
Gary Marks, without admitting or denying wrongdoing, agreed to pay more than $421,000 in disgorgement and fines to end the Securities and Exchange Commission's case against him. The regulator has accused the Sky Bell Asset Management chief of negligently misrepresenting the correlation and diversification among the firm's hedge funds, among other improper actions between 2005 and 2008.
According to the SEC, Marks recommended investors put most of their money into Sky Bell hedge funds while failing to disclose that one was significantly investing in a subadvisor's fund and making misleading statements about liquidity problems in another fund.
In addition to running Sky Bell, which had offices in Florida and Hawaii, Marks is also a rock musician and the co-author of a 2007 investment guide, Rocking Wall Street.
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.