Tuesday, 23 September 2014
Last updated 6 hours ago
Aug 3 2007 | 1:58pm ET
A former Banc of America Securities broker admitted to taking kickbacks in exchange for giving a hedge fund access to new securities offerings.
Paul Risoli pleaded guilty yesterday to one count apiece of conspiracy and wire fraud in Manhattan federal court. He is just one of 13 people accused of leaking information to hedge funds in March, he is to be sentenced on Nov. 9.
Prosecutors say Risoli, who left BofA in February, accepted at least $9,500 in kickbacks from Erik Franklin, an analyst at hedge fund Q Capital, from late 2005 through last October. Risoli then allocated shares of both initial public offerings and secondary offerings to Q Capital, which turned at least $160,000 in profit from the deals.
Franklin pleaded guilty to conspiracy, securities fraud and other charges in February.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.