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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR