Tuesday, 16 September 2014
Last updated 12 hours ago
Jan 28 2014 | 1:05am ET
At last: an alternative-investments insider-trading scandal without allegations of wrongdoing by an alternative investor.
Federal prosecutors charged two men with trading on advance knowledge that private-equity firm 3G Capital Management was poised to buy Burger King Worldwide. Former Wells Fargo financial adviser Waldyr Prado and Igor Cornelsen, who runs a British Virgin Island investment firm, bought up Burger King shares in 2010 after a friend told Prado of the developing deal.
Prado sold his shares soon after the deal was announced, but not before telling Cornelsen, who alleged earned $1.4 million on the deal.
The charges follow Securities and Exchange Commission allegations leveled last year, which resulted in $11.1 million in penalties against both men.
Neither Prado nor Cornelsen has been arrested. Both men live in Brazil.
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?