Michael Lauer, the head of two Connecticut hedge funds, was ordered to pay more than $62 million to settle charges he defrauded investors of more than $500 million by manipulating securities prices and lying about the holdings of his funds, the Securities and Exchange Commission announced today.
An analysis of the hedge fund industry’s first-quarter activity indicates that the $1.3 trillion industry is stabilizing, according to Credit Suisse/Tremont Hedge Fund Index LLC in New York.
Investors are rushing into stocks Monday as surprise increases in pending home sales and construction spending offered the latest signs that the economy is stabilizing.
As a result of shifting views of high-net-worth and ultrahigh-net-worth investors, financial advisers will have to re-evaluate business practices, including fees, portfolios and investment policies, according to wealth managers and industry observers.
A day before he and his hedge-fund consulting firm were stung by the Securities and Exchange Commission with $815,000 in fines and penalties, a major figure in the hedge fund world started his own effort to change hedge fund audits.
A grand jury has indicted a Florida hedge fund manager who disappeared for two weeks before surrendering to face criminal charges.
The Securities and Exchange Commission has obtained a court order freezing the assets of a Connecticut hedge fund manager who allegedly bilked investors of $30 million by inflating the size of two of his funds.
Home prices dropped sharply in February, but for the first time in 25 months the decline was not a record, another sign the housing crisis could be bottoming.
Dealing with the declining value of their clients' homes, financial advisers are adjusting retirement plans and coming up with new ways to compensate for the wealth loss.
Investment adviser Hennessee Group LLC and its principal, Charles Gradante, have been charged with securities law violations by the SEC for failing to perform an advertised review and analysis before recommending Bayou Management LLC hedge funds that were later discovered to be a fraud.
Government support of a green economy and the likelihood of rising oil prices are creating opportunities in alternative energy, according to Calvert Asset Management.
Hedge funds posted small gains last month following the rally in the equity market, according to a Morningstar report released today.
Global hedge fund assets are expected to fall to $1 trillion by midyear, down from $1.4 trillion at the end of 2008 and a peak of $1.868 trillion in 2007.
The Charles Schwab Corp. has scheduled a webcast Thursday to brief registered investment advisers on its revised plans to wind down custody of alternative investments.
The government's Public-Private Investment Program — designed to remove bad assets from bank balance sheets and promote lending — will help turn around the economy in the short run, but perhaps not long-term, according to financial advisers.
The Securities and Exchange Commission has filed an amended complaint charging a former state political party leader and a hedge fund manager in connection with a multimillion-dollar kickback scheme involving New York's largest pension fund.
The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break, according to data released today.
In what some say is a growing trend, The Permal Group Inc., a fund-of-hedge-funds affiliate of Legg Mason Inc., today launched its first mutual fund.
In the latest action against a wave of mortgage scams, a Massachusetts judge has granted a temporary restraining order against a Florida firm, preventing it from doing business in the state of Massachusetts.
