Danish Bank Reprimanded Over Hedge Fund Marketing

Dec 1 2009 | 10:11am ET

A Danish bank has been reprimanded by the country’s regulators for allegedly misleading investors in its hedge funds.

The Danish Financial Supervisory Authority said the brochure for its Jyske Invest Hedge Markedsneutral – Obligationer leveraged bond fund feature an “insufficient description,” and that the bank didn’t make up for it when talking to clients.

Jyske said it does “not concur” with the regulator’s move and might appeal the ruling.

“Our advisory services did not solely consist of the brochure but also of written and oral information, and generally we are of the opinion that we gave our customers adequate advisory service,” it said in a statement.

Angry investors, who lost money on the hedge fund, filed a claim against Jyske in October, accusing it of offering “misleading and insufficient information.” Those investors are trying to put together a class-action lawsuit against the bank.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

The London Whale saga is a twist on the typical rogue trader story as the rogue trader recognized the error of his ways and was prepared to take his medicine but was instructed by superiors to “defe...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.