In Hedge Funds This Week

In Hedge Funds This Week

Matrin Curry fined $14 Million

Martin Currie

Regulators Fine Martin Currie $14 Million
British and U.S. regulators have fined asset manager Martin Currie a combined £8.6 million ($13.9 million) for failing to manage a conflict of interest between two of its clients.

Hedge Fund Arden Asset Management wins mandate from Mass Pension Board

Arden Asset Management will help Massachusetts move hundreds of millions of dollars to some of the world’s most prominent hedge fund managers. New York-based Arden has won a mandate to act as the state’s so-called transition manager as the $50 billion state pension fund shifts money away from hedge funds of funds directly into a select number of hedge funds.

Robert Stiller

Green Mountain

Green Mountain: No Other Board Margin Accounts
Green Mountain Coffee Roasters Inc. has concluded that no other senior officials have the sort of margin account that led the company to strip its founder, Robert Stiller, of his role as chairman

CTFC Finalizes Exchange rule

CFTC Finalizes Exchange Rule, Delays 85 Percent Rule
The U.S. Commodity Futures Trading Commission voted unanimously on Thursday  to finalize a rule to beef up regulations governing derivatives exchanges, after delaying a vote on one of the most controversial provisions.

Fortress Commodities Fund to Liquidate

Fortress Commodities Fund to Close after Losses
The Fortress Commodities Fund will close later this month and distribute funds to investors after poor performance and heavy withdrawals.

Glencore accused in paying bribes

Glencore, Others Accused of Paying Bribes in E.U. Case


A subsidiary of commodities trader Glencore has been accused of paying a European Union official’s bumper phone bills and laying on a French holiday to secure market-sensitive information, according to court documents relating to a Brussels corruption case. Glencore, the world’s largest diversified commodities trader, said last year ahead of its listing that its subsidiary Glencore Grain Rotterdam, a former employee and a current employee had been charged as part of the criminal case.


HSBC holdings PLC Names primes services head of Asia

HSBC Names Melvyn Ford Prime Services Head for Asia
HSBC Holdings PLC named Melvyn Ford as head of prime services in Asia on part of a plan to expand offerings to the region’s $141 billion hedge fund industry. The bank rolled out its prime business, which provides services such as clearing trades and lending money to hedge funds, last year in Asia, joining Wall Street banks such as Goldman Sachs and Morgan Stanley that lead the market according to a survey from industry tracker AsiaHedge.

Naxis plans to shut down brokerage unit

Natixis Plans to Shut Commodities Brokerage Unit
French bank Natixis said it plans to close its commodities brokerage division, as one of the oldest ring-dealing members of the London Metal Exchange becomes the latest victim of the European debt crisis. The bank decided to wind up the brokerage activities of Natixis Commodities Markets (NCM), which offers derivatives on a range of metals, fuels and commodities, the bank said.

Aubrey McClendon


Chesapeake’s deepest well: Wall Street
Far from the drilling rigs of Oklahoma, America’s second-largest natural gas producer is having to dig ever deeper into the well that really fueled its growth: Wall Street. In a Times Square office building, a team tapped by Chesapeake Energy Corp. Hedge fund violates fiduciary duty to Chesapeake

Hedge Fund Voras Capital shutting down

Zoe Cruz’s Voras Capital Hedge Fund Shutting Down
Zoe Cruz, the former Morgan Stanley co-president, is closing her Voras Capital Management hedge fund and returning investor money, a source familiar with the fund said. Ms.


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