Wednesday, 3 September 2014
Last updated 14 hours ago
Jan 28 2009 | 2:07am ET
A group of British investors are set to sue four firms over money lost in the Bernard Madoff scandal.
Ten investors have approached law firm Edwin Coe about suing Barclays, Bramdean Asset Management, HSBC and UBS, over advice given before the word of the alleged $50 billion Ponzi scheme broke. David Greene, head of litigation at Edwin Coe, said that he clients are mulling whether to join one of the class-action lawsuits already filed in the U.S., or to file one of their own in the U.K.
“When you are in a position where the whole of an investment strategy is a fiction you are bound to ask questions about the advice you were given,” Greene told The Telegraph.
Greene’s clients have combined losses of about £87 million (US$122.5 million). One alone apparently lost some £36 million (US$50.7 million) on investments with exposure to Madoff.
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…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...