Tuesday, 2 September 2014
Last updated 2 hours ago
Apr 2 2008 | 4:30pm ET
A former hedge fund trader has been charged with market manipulation by Canadian regulators.
The Ontario Securities Commission said yesterday that Darren Delage engaged in certain trading practices to boost the price of Environmental Applied Research Technology House Earth (Canada) Corp. while he was trading for Polaris Securities’ energy hedge fund. The OSC alleges that Delage traded EAR shares just before the market close to boost its price, as well as entered into trades at higher prices than the most recent reported trades.
Delage “knew or ought reasonably to have known… would result in or contribute to a misleading appearance of trading activity in EAR shares, or an artificial prices for those shares,” OSC said in a statement.
The allegedly illicit trades took place during the summer of 2005, when Delage was executing most of the trades for the C$25 million Polaris Energy Offshore Master Fund. Polaris fired him in July of that year after an investigation into his trading practices.
OSC has scheduled a hearing for April 29.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...