Mass. Hedge Fund Settles Market-Timing Charges

Jan 28 2008 | 8:53am ET

A Boston-area hedge fund has settled mutual fund market-timing charges, the Securities and Exchange Commission said Friday.

Cambridge, Mass.-based Chronos Asset Management had been accused of using “deceptive tactics” and “false and misleading information to hide Chronos’ identity” to market-time mutual funds. One Chronos trader allegedly opened a variety of accounts, named for his dog, hometown and wife, to facilitate the trades.

The $250 million firm will pay $2 million to settle the charges. In addition, Mitchell Dong, who heads the hedge fund, has been barred from the securities industry for a year.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

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

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of