Financial Firms Can't Ignore the Foreign Corrupt Practices Act
The order shows that once the hires were made, BNY Mellon kept the sovereign fund's business and won more. The FCPA has been around since 1977; historically, the SEC has used it to pursue individuals and corporations for run-of-the-mill bribery like ...
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Greater New York Watch
A state judge has dismissed a racial-discrimination lawsuit filed by hedge-fund manager Alphonse Fletcher Jr. against the Dakota co-op on Central Park West. Mr. Fletcher is the husband of Ellen Pao, who earlier this year lost a three-year sex ...
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On VW, Piech, China, glum markets and Yogi
The Volkswagen thing has rattled confidence in both equity and credit markets – I received a one-liner this morning from a credit hedge fund which very simply read: “Is VW going bust?” to which I equally simply replied: “Nope. 80bn net debt; 20bn can ...
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Euro bond investors' complacency around Brazil shaken
Hedge funds look for short opportunities. * Petrobras exposure in the spotlight. By Robert Smith. LONDON, Sept 17 (IFR) - Brazil's deteriorating economy is not an obvious threat to European corporate debt investors, but the crash in Abengoa's bonds has ...
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The Morning Risk Report: Impact of New Money Laundering Rules Is Uncertain
New rules applying anti-money laundering requirements to investment advisers will impose additional compliance costs on hedge funds and other money managers, but the level of cost is uncertain because the reach and rigor of the new rules isn't yet clear.
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Donald Trump: Hedge fund workers aren't paying enough in taxes
These hedge fund guys, they move around papers, many of 'em. You know, if the market goes up they're geniuses, [if] the market goes down … they go into a different business, frankly. They're wiped out. They go into a different business,” Mr. Trump ...
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The Poison in Further Devaluation
In a Business Day report of 22/7/15, titled "CBN may fail Hedge fund speculators' betting on Naira devaluation", Sewa Wusa, Head of Research and Development of Sterling Capital observed that "the onus lies on the CBN to devalue the Naira before it is ...
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US Hedge Funds Get Bailed Out If Greeks Pass Bailout Referendum
Control frauds cause greater financial losses than all other forms of property crime combined. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae's former ...
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CalPERS Crowdfunded 0 Billion Pension Investigation
In September, 2014, the CalPERS announced it would shed its entire $ 4 billion investment in hedge funds as part of an effort to simplify its assets and reduce costs. While CalPERS stated that the decision wasn't based on the performance of the program ...
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Richard Zabel, Bharara's Deputy, Moves to Elliott Management
Mr. Zabel, the deputy United States attorney in Manhattan under Mr. Bharara, is stepping down to become general counsel at Elliott Management, one of Wall Street's biggest hedge funds. The departure, announced by Mr. Bharara in an internal email on ...
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Thoughts from the Frontline - A Week of Unseen Things
Xi is very astutely framing the whole reform process as a crackdown on corruption. I suppose that's what it is, in a way, but now that he has .... Puerto Rico is about the same size as Connecticut but with more palm trees, twice the unemployment rate ...
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Marin fund manager banned from securities business as investors seek payback
And as recently as October 2012 Braun still owed Cadogan Management, a private investment management firm specializing in funds of hedge funds, some $ 637,000. In his suit, Delman alleged that Braun kept investors in the dark as the partnership's losses ...
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Children killed in rebel attack
Rebels fired a barrage of shells at government-held districts in the northern Syrian city of Aleppo today, killing at least 23 people, including eight children, and wounding more than 100, state-run TV said.
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Australian police asked to examine '€26k bribe' to human-traffickers
Australia's prime minister Tony Abbott could face a police investigation into an alleged bribe paid to people smugglers to turn back a boatload of migrants. .... Billionaire hedge fund manager Dan Loeb and Lightyear Capital chairman Don Marron are.
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