Tuesday, 30 September 2014
Last updated 4 hours ago
Nov 26 2012 | 12:09pm ET
With all eyes on SAC Capital Partners on the hedge fund fraud front, the Securities and Exchange Commission is weighing a lawsuit on another hedge fund manager.
Peter Eichler, CEO of Aletheia Research and Management, received a Wells notice, indicating that the SEC is likely to bring an enforcement action. The regulator is investigating allegedly improper trading, account manipulation and trade-allocation irregularities.
Aletheia, which manages both long-only funds and a hedge fund, filed for bankruptcy earlier this month. The firm, which once managed as much as $10 billion, is down to just $1.4 billion.
Eichler's lawyer said he would fight any charges leveled by the SEC.
The U.S. Justice Department is also getting involved in Aletheia's endgame, asking to be kept informed of all pleading in the case.
Aletheia last year paid $400,000 to settle SEC charges that it failed to keep sufficient records. It is also involved in a legal battle with private equity firm Proctor Investment Managers, which owns a 10% stake in the company.
Santa Monica, Calif.-based Aletheia listed $50 million in liabilities in its bankruptcy filing Nov. 11.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...