Wednesday, 17 September 2014
Last updated 16 hours ago
Aug 23 2013 | 5:04am ET
Moore Capital Management’s bill for allegedly “banging the close” on two precious metals has tripled.
The hedge fund settled a class-action lawsuit that accused it of manipulating platinum and palladium prices. The allegations mirrored those of the Commodity Futures Trading Commission, which fined Moore $25 million three years ago and levied trading restrictions.
Now, those trading restrictions have lapsed, but Moore has agreed to pay $48.4 million to settle the class-action suit, Reuters reports. The firm did not admit or deny wrongdoing.
According to the CFTC, Moore routinely sought to manipulate platinum and palladium prices on the New York Mercantile Exchange from at least November 2007 through May 2008.
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…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?