Wednesday, 24 December 2014
Last updated 14 hours ago
Sep 14 2007 | 11:36am ET
Another hedge fund has been caught red handed in an alleged insider-trading scheme involving private investments in public equities, or PIPEs.
The Securities and Exchange Commission has charged King of Prussia, Pa.-based hedge fund Lancaster Investment Partners and hedge fund manager Robert Berlacher with using private stock offerings to cover short positions—a violation of securities law—at least 10 times between 2000 and 2005. The SEC says Lancaster made $1.7 million from the trades.
“These ill-gotten gains inflated Lancaster’s assets under management and performance, which consequently led Berlacher to receive improper performance fees and compensation,” the SEC wrote in its complaint, filed in federal court in Philadelphia.
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.