GLG Partners LP, a hedge fund firm that announced plans to go public yesterday, today agreed to settle with the U.S. Securities and Exchange Commission.The SEC announced settled enforcement actions against London-based hedge fund adviser GLG Partners for illegal short selling in connection with 14 public offerings. It alleged that during a two-year period, GLG […]
Will pay US$2 million penalty; $US19 million in disgorgement
Change triggered by persistent non-compliance
Sharing of examination findings can help compliance officers proactively fine-tune supervisory controls, regulator says
Remaining US$250 million expected to be distributed later this year
Amendments will further reduce fails to deliver in certain equity securities, regulator says
Pair must each pay US$400,000 penatly
Former head trader pays US$750,000
Uses of 12b-1 fees have strayed from original purposes, Cox says
Recognition would involve the SEC permitting certain types of foreign financial intermediaries to provide services to U.S. investors