Hedge funds cut bullish commodity bets to a six-month low as mounting concern that slowing economic growth will erode demand drove prices toward the first fourth-quarter retreat since the global recession.
Legg Mason To Buy Fauchier Partners From BNP Paribas Unit (Fund News)
Asset manager Legg Mason Inc. on Thursday said the company and its alternative asset managing affiliate Permal Group have entered into definitive agreement to acquire Fauchier Partners from BNP Paribas Investment Partners, an affiliate of French lender BNP Paribas. The company did not disclose the terms of the deal.
Tiger Asia enters guilty plea in insider trading charges (Fund News)
Tiger Asia Management LLC, the New York-based hedge fund run by Bill Hwang, admitted illegally using inside information to trade Chinese bank stocks and agreed to criminal and civil settlements of more than $60 million.
SEC officials raise concerns about lifting advertising ban (Headlines)
According to a report by Reuters two U.S. securities regulators on Thursday said more safeguards for investors should be considered before a rule lifting the ban on general advertising for private offerings is adopted, with one going so far as to call for a complete re-write of the proposal.