SEC settles with Rengan Rajaratnam

by HedgeFundsX on October 24, 2014

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The Securities and Exchange Commission announced on Thursday that former hedge fund manager Rajarengan ‘Rengan’ Rajaratnam has agreed to pay more than $840,000 and accept securities industry bars in order to settle the agency’s insider trading case against him.

The SEC filed civil charges in March 2013 against Rengan Rajaratnam for his role in the widespread insider trading scheme conducted by his brother Raj Rajaratnam and hedge fund advisory firm Galleon Management. The insider trading occurred in securities of more than 15 companies for illicit gains totaling nearly $100 million. The SEC has now obtained court judgments … Read More »

As ETF M&A heats up, industry wonders who is next

by HedgeFundsX on October 24, 2014

When it comes to expanding in the $1.9 trillion exchange-traded fund market, which some forecasts say will pass the traditional mutual fund industry in size within 10 years, some companies have concluded it’s better to buy than to build.

ETFs are baskets of securities, like mutual funds, but trade on … Read More »

Billionaire Ray Dalio’s Hedge Fund Sues Ex-Employees Over New Fund

by HedgeFundsX on October 24, 2014

Billionaire Ray Dalio’s Bridgewater Associates sued two former employees for falsely advertising their new hedge fund firm by exaggerating and misrepresenting their role at Bridgewater, the world’s largest hedge fund firm that manages some $160 billion.

Bridgewater Associates sued Howard Wang and Wenquan “Robert” Wu in federal … Read More »

Hedge fund managers play Robin Hood

by HedgeFundsX on October 22, 2014

With Halloween nearing, Wall Street put on its best Robin Hood costume this week, raising millions of dollars to fight poverty and lamenting the rise of economic inequality.

One of the financial community’s most prominent members wondered whether it was doing enough.

“The financial community has done well, but a lot of people have been … Read More »

Ex-Hedge Fund Manager To Help Lead SEC Exams

by HedgeFundsX on October 22, 2014

The Securities and Exchange Commission has a new top inspector who knows his way around a hedge fund.

Marc Wyatt was named deputy director of the regulator’s office of compliance inspections and examinations, the SEC said, replacing acting director Joy Thompson.

Wyatt is a former senior portfolio manager at Stark Investments, … Read More »

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