The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 2 hours ago
May 19 2009 | 10:38am ET
Following the arrests of two Weavering Capital employees, including its CEO, the Irish Stock Exchange has declined to comment on whether it investigated the firm, who collapsed hedge fund was listed on the Dublin bourse.
But while authorities on the other side of the Irish Sea are busy probing the US$637.1 million Weavering Macro Fixed Income Fund, the ISE would not say whether it had investigated the fund before its collapse in March, or whether it is doing so now.
“Our policy is not to comment on any investigation that may or may not be taking place,” an ISE spokesman told the Irish Times. The Weavering fund’s ISE listing was suspended on March 11, a week before it went into voluntary liquidation. The exchange de-listed a second, smaller Weavering fund yesterday.
Weavering Liquidator PricewaterhouseCoopers found last month that Magnus Peterson, the Weavering CEO arrested last week, had invested a substantial chunk of the fund’s assets in interest-rate swaps whose counterparty was a British Virgin Islands company controlled by Peterson. The U.K.’s Serious Fraud Office believes that Weavering used the swaps to hide losses and inflate the fund’s value.