Massachusetts Charges Two Firms in Forex Schemes (WSJ)
Massachusetts’s securities regulator charged two unregistered offshore firms for alleged foreign-exchange investment scams. One of the cases involves allegations against two individuals who were sanctioned by the Securities and Exchange Commission for an alleged $34 million hedge fund investing fraud involving 60 investors in 2007.
Credit Suisse Eyes Fund Of Funds Rock Creek (FinAlternatives)
Credit Suisse Group is poised to buy fund of hedge funds Rock Creek Group. The two sides are in advanced talks and a deal could come within 10 days, AR magazine reports. A deal for Rock Creek would give Credit Suisse a substantial institutional fund of funds business. The Swiss bank’s current fund of funds business, which has about $10 billion in assets under management, specializes in high-net worth clients, especially those who already patronize Credit Suisse’s private bank.
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