SEC Probing Alleged Activist Investor Collusion

Jun 5 2015 | 8:40am ET

(Reuters) - The U.S. Securities and Exchange Commission is investigating whether some activist investors secretly acted jointly to target companies, one hedge fund industry source said.

The SEC's enforcement division recently opened multiple investigations and sent requests for information to a number of hedge funds, according to The Wall Street Journal, citing people familiar with the matter.

The names of the funds and the companies they targeted could not immediately be ascertained.

The SEC declined to comment.

Federal securities regulations require investors who jointly agree to buy, sell or vote securities to disclose those arrangements, and to designate themselves as a group if they together own at least 5 percent of a company's stock or are soliciting votes from other shareholders.

In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...


FINalternatives Trending

From the current issue of