Saturday, 25 October 2014
Last updated 1 day ago
Dec 17 2007 | 3:30pm ET
The Securities and Exchange Commission has slapped a pair of financial advisers for deceptive mutual fund trading on behalf of hedge fund clients.
The regulator sued former Morgan Stanley advisers Darryl Goldstein and Christopher O’Donnell—both of whom still work in the financial industry—with making more than 4,000 market-timing trades with a total trading volume in excess of $4.8 billion, all for a pair of hedge funds.
The complaint says the pair used deceptive techniques between January 2002 and August 2003 to skirt the mutual funds’ market-timing restrictions.
The action was filed Friday in Manhattan federal court.
Goldstein now works at Gilford Securities, while O’Donnell is at Bear Stearns.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.