Frank Mercado, the owner of hedge fund firm Tiger-Wolf Capital, has admitted to wire fraud, confessing to defrauding over 100 victims out of more than $700,000 through a fraudulent investment scheme, according to a report by Business North Carolina.
The US Securities and Exchange Commission has imposed its first significant penalty as part of an extensive investigation into activist short sellers, fining Anson Funds Management and Anson Advisors a combined $2.5m, according to a report by Bloomberg.
An insider trading case involving Asian hedge fund Segantii Capital Management, its British founder, Simon Sadler, and a former trader, will now be heard in a higher court in Hong Kong following a request from the prosecution, according to a
Chinese regulators are considering the introduction of stricter rules on how banks distribute financial products to the public, potentially severing a crucial distribution channel for some of the country’s largest hedge funds, according to a report by Bloomberg.
Gregoire Tournant, a former hedge fund manager at Allianz SE, has pleaded guilty to fraud charges related to billions of dollars in investor losses, two years after a unit of the investment firm agreed to pay $5.8bn in penalties for
Singapore authorities are intensifying scrutiny of hedge funds and family offices, requiring more information while stepping up the closure of dormant firms after a series of scandals exposed weaknesses in the oversight of the city state’s financial sector, according to
The US Securities and Exchange Commission recently announced enhancements to Regulation S-P, another layer of ongoing regulatory changes impacting how financial institutions handle customer data. To navigate the complexities, Align gathered a group of industry experts to react to these
The SEC has suffered a major setback in its bid to increase oversight of the hedge fund industry after a US appeals court threw out a new rule requiring managers to provide investors with quarterly disclosures of their fees and
New York-based hedge fund firm Mass Ave Global and Co-Founder and CEO Winston M Feng have agreed to pay a combined $600,000 in penalties to settle SEC charges that it made “false and misleading statements” to investors in its flagship
Jefferies Financial Group, the main creditor of hedge fund Weiss Multi-Strategy Advisers, which went bust in April after over 40 years of trading, says the fund should claw back about $30m that it paid employees just before filing for bankruptcy,
