Saturday, 20 December 2014
Last updated 1 day ago
Oct 15 2007 | 3:18pm ET
The Securities and Exchange Commission has charged a New York hedge fund with illegal naked short sales.
Colonial Investment Management and its principal, Cary Brody, allegedly used shares purchased in at least 18 registered public offerings to cover short positions, including one involving Legg Mason shares. The alleged malfeasance took place between 2001 and 2004, when it was illegal to cover shorts during the five days prior to offer pricing with securities bought in the offering.
The SEC, which filed its complaint in Manhattan federal court, alleges that the hedge fund, Colonial Fund, made $1.48 million in ill-gotten profits from the illicit naked shorts.
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.