Wednesday, 2 December 2015
Last updated 8 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.
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…