Thursday, 18 December 2014
Last updated 14 hours ago
May 8 2013 | 8:46am ET
The founder of collapsed hedge fund Weavering Capital will go on trial for fraud in a year-and-a-half—but not before the U.K.'s Serious Fraud Office faces a trial of its own.
A British judge set a provisional trial date for Magnus Peterson for October 2014. He also schedule an abuse of process hearing for Nov. 8 of this year, a hearing at which he said the SFO would face "quite serious criticism" in the trial.
At question is the SFO's decision in 2011 to drop its probe into Weavering after two-and-a-half years. Peterson was only charged criminally in the US$600 million scam after a London court ruled that he had misled clients and fined him US$450 million.
Weavering collapsed in 2009 when it failed to meet redemptions and it was found that the firm's assets consisted of only a single swap agreement with a company controlled by the hedge fund itself.
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.