Search This Blog

23 Mar 2010

Volunteer Day: Hedge Funds for Habitat - NYC

HedgeCo News - The initiative by the hedge fund community, Hedge Funds for Habitat-NYC is hosting a volunteer day on April 2nd. For a minimum contribution of $500, members of the alternative investment community are invited to join their peers on Good Friday and help the group on their latest green project.

Hedge Funds for Habitat-NYC is currently building a 41-unit affordable condominium building on Atlantic in Brooklyn made with environmentally-friendly materials, this will also be the largest multi-family building ever constructed by Habitat for Humanity anywhere in the world.

Led by Stuart Feffer, Co-Chief Executive Officer of Lacrosse Global Fund Services, Hedge Funds for Habitat-NYC is calling on supporters from hedge funds and private equity firms who recognize that there are incredible working families in NYC living in unsafe and overcrowded conditions whose life will be forever be changed with a Habitat home.

FSA Raids 16 Homes And Businesses On Suspicion Of Hedge Fund Insider Trading

In their first joint operation the Financial Services Authority (FSA) and the Serious Organised Crime Agency (SOCA) have this morning searched 16 addresses in London, seizing documents and computers from both residential and business premises.

Six men, including two senior professionals at leading city institutions and one city professional at a hedge fund have been arrested on suspicion of being involved in a sophisticated and long-running insider dealing ring, the FSA said in a statement.

The FSA alleges that the city professionals passed inside information to traders (either directly or via middlemen) who traded based on this information and have made significant profits as a result.

The operation was carried out by 143 FSA personnel together with officers from SOCA as part of a joint investigation that commenced in late 2007.

The FSA has so far secured five sentences of imprisonment (one suspended) in relation to insider dealing: McQuoid and Melbourne in March 2009; Matthew and Neel Uberoi in November 2009 and Malcolm Calvert on 11 March 2010.

The FSA is currently prosecuting three other insider dealing criminal cases: Andrew King, Andrew Rimmington and Michael McFall, with a trial date of 19 April 2010; Christian and Angie Littlewood and Neil Rollins, both with a trial date yet to be fixed.