Thursday, April 4, 2013

And the hits just keep on coming…

It is clear from all the news these last few weeks that insider trading indictments are not going away. The SEC has clearly targeted any and all who are suspected of doing this dirty deed. And if insider trading indictments aren’t bad enough, it seems now the press is focused on how hedge fund managers are spending their market winnings. 

Just as we all were settling to read about the recent indictments of SAC Capital Advisors LP personnel as well as additional indictments in the Galleon Group case, we got wind of a recent spending spree by SAC founder Steve Cohen. His purchase of a home in the Hamptons and Picasso’s “Le Rêve”  have made substantial headlines around world. For news junkies, these are the stories that keep on going.

It looks like insider trading indictments are going to remain high up on the SEC’s agenda for the time to come. As such investors and fund managers need to be prepared. Fund litigation and dispute resolution is something on the minds’ of all involved in the hedge fund industry these days.

At GAIM Ops Cayman, there will be sessions devoted to this topic and if you have not registered for this great event you can do so by clicking here . Separately, we are pleased to announce a New York-based Fund Governance and Litigation Summit in September. This new program is geared directly to managers, investors, and lawyers who want to know more about best practices in this area of the hedge fund industry.

In the meantime, settle in, the ride is far from over.

-    The IIR Alternatives team

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