York Faces Naked Short Probe In Spain

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.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…