Tuesday, 23 September 2014
Last updated 9 hours ago
Aug 29 2014 | 8:19am ET
York Capital Management is under investigation for the allegedly illicit naked short sale of a Spanish bank.
Spanish regulators notified York’s London office that it was looking into its May 2013 short of Bankia in advance of its government bailout. If the Comision Nacional del Mercado de Valores files civil charges against the hedge fund, they’ll be among the first under the European Union’s 2012 short-selling restrictions.
The CNMV is looking into whether York failed to cover its Bankia position “in a timely manner,” as required by those new rules.
York has said that the trades were reviewed by its compliance department and others, and said that circumstances outside of its control were to blame for the late delivery of shares.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.