Friday, 29 August 2014
Last updated 13 sec ago
Aug 30 2013 | 10:53am ET
Prosecutors are making good on their pledge not to shut SAC Capital Advisors down while they seek its conviction on criminal insider-trading charges.
The government asked a federal judge to put its civil forfeiture lawsuit against the hedge fund on hold until after the criminal case is disposed of. The civil suit seeks the forfeiture of "all property, real and personal," derived from the hedge fund's alleged insider-trading, and prosecutors have said they will seek to seize substantially all of SAC's assets if it is convicted. The government has also said it would not interfere with SAC's payment of redemptions to investors, which are expected to leave it with little or no outside capital by the end of the year.
"Civil discovery would adversely affect the ability of the government to conduct the prosecution of a related criminal case," prosecutors said today.
The government a month ago accused SAC of running a decade-long insider-trading scheme. SAC has denied any wrongdoing.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...