BMO Capital Markets, the investment- banking business of Bank of Montreal, hired a team and bought assets from Paloma Securities LLC to expand its securities- lending business.
Bank of Montreal added 42 people from the lending unit of the Greenwich, Connecticut-based hedge fund, the Toronto-based bank said today.
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New York City prosecutors say an indictment can be delayed against one of America’s richest men in a massive insider trading case so negotiations to settle it can finish.
Federal prosecutors notified the court by letter Monday that the deadline for an indictment should be extended by a month while talks continue between the government and lawyers for billionaire hedge fund operator Raj Rajaratnam. A judge granted the extension until Dec. 16.
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If an investor had just $1 to give to a private-equity firm to invest, he probably would be better off looking outside many of the industry’s brand names, according to the results of a long-running academic study into the industry’s performance.
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Alberto Micalizzi, founder of the hedge fund firm Dynamic Decisions Capital Management Ltd., said allegations that he invested in worthless bonds are unfounded and investors will recover close to 100 percent of their money.
The firm’s main hedge fund, with a net asset value of $550 million as of Dec. 31, is being liquidated in the Cayman Islands after investors raised questions about some of its holdings. The U.K. Serious Fraud Office, which prosecutes white-collar crime, opened a probe into the London-based firm last week after the matter was referred to it by the Financial Services Authority.
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A pending U.S. House bill requiring private fund advisers to register with regulators would cost the U.S. Securities and Exchange Commission $140 million to implement over a four-year period, according to a Congressional?Budget?Office?estimate.
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