Tue, Oct 6, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

More Greenlight Capital Insider Trading Fallout, Additional Fines from UK FSA

Wednesday, February 01, 2012

Bailey McCann, Opalesque New York: Laven Partners, a UK-based consultancy reported in a regulatory alert that Alexander Edward Ten-Holder a trader and compliance officer at Greenlight Capital, a US-based hedge fund, was fined and banned by the Financial Services Authority (FSA) last week for activities associated with the FSA’s recent actions against Greenlight for insider trading.

Greenlight Capital is the hedge fund firm of noted investor David Einhorn. As was reported last week, both Greenlight and Einhorn were recently fined nearly £6m for what the FSA calls "market abuse." The FSA claims that Eihorn had a conversation with a broker and British company Punch Taverns ahead of a fundraising initiative, prompting Einhorn to sell his position on the company, saving himself and Greenlight £5.8mn. The sell-off caused Punch’s shares to lose nearly 30% of their value.

Ten-Holter is being fined and banned because the FSA charges that as a compliance officer, he did not do enough to question the sell-off of Punch shares.

The FSA said in a statement about the decision that "under the circumstances, Mr. Ten-Holter had failed to recognize the risk of market abuse in how the instruction was communicated to him and the information he was given."

According to the FSA, the circumstances sur......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  2. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  3. U.S. hedge funds prepare for worst finish this year since 2008[more]

    Komfie Manalo, Opalesque Asia: U.S.-focused hedge funds are preparing for their worst year since the 2008 global financial crisis, following a series of letdown including the market sell-off in August and the sell-off in healthcare and biotechnology sectors last month, reported

  4. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From Marketrealist.com: In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  5. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Reuters.com: Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'