A former trader at shuttered hedge fund Marinus Capital Advisors was accused by the SEC of swindling millions from investors despite being barred from the industry in 2019. Swapnil Rege started a new company and raised $10 million from investors after he was fired from Marinus in 2017 and even after he agreed to an industry ban to resolve 2019 charges that he artificially inflated his positions on derivatives to earn himself a higher bonus at the fund, the regulator said in a suit filed Tuesday in federal court in New Jersey.
Stock trading app Robinhood reported Tuesday a huge revenue miss for the third quarter, as cryptocurrency trading dropped off. Robinhood said that, barring any change in the market environment, the headwinds that dragged down last quarter — like lower retail trading activity — will persist into year-end.
It’s that time of year again, performance review season is upon us at the bulge bracket investment banks. This is swiftly followed by compensation planning and then by the five stages of grief when you get told your numbers in January. From an HR perspective, performance reviews provide a paper trail for performance improvement plans, promotions and compensation decisions. They reinforce the notion that there are rules, and everyone is treated equally. However, ….
The Swiss exchange is using the vendor’s data and analytics to provide insight to brokers around Swiss EBBO liquidity.
U.S. banks are overrun with cash. So they are loading up on debt. The six largest U.S. lenders have issued some $314 billion of bonds so far this year, already the most for any year since 2008, according to Dealogic.