Bruce Karpati, a former top attorney at the U.S. Securities and Exchange Commission, is joining KKR & Co. as the private-equity firm’s global chief compliance officer, a person familiar with the matter said.
Algorithmic traders and quant funds are under close scrutiny from a U.S. Securities and Exchange Commission enforcement team responsible for policing hedge funds, the unit’s co-chief said at securities law forum.
Financial stocks subject to rules restricting short sales in France, Italy, Belgium and Spain have behaved about the same as banks in European countries with no such prohibitions, according to Instinet Inc.
Weil, Gotshal & Manges LLP acted as legal adviser to Thomas H. Lee Partners LP, which agreed to buy a majority stake in Party City Corp. from its private-equity owners in a transaction valued at $2.69 billion.
A Miami-based hedge fund and two of its executives agreed to pay almost $3 million to resolve U.S. regulatory claims that they deceived investors about their own stake in the fund and failed to disclose conflicts of interest.
The U.S. Securities and Exchange Commission’s review of how private equity firms value assets and market their funds is so far looking at mainly smaller firms, omitting some of the industry’s largest, publicly traded companies, said a person familiar with the inquiry.
Yorkville Advisors LLC, a New York hedge-fund firm, reaped at least $10 million in excess fees after overvaluing assets it managed and exaggerating returns to hide losses, U.S. regulators said in a complaint.
Axa Rosenberg Group LLC’s co- founder Barr M. Rosenberg agreed to pay $2.5 million to settle claims by the U.S. Securities and Exchange Commission, which accused him of securities fraud for concealing a coding error in his firm’s investment model.