Goldman, Citadel Securities Pay SEC Millions Over Trade Labeling (Bloomberg)
Goldman Sachs Group Inc. and Citadel Securities each reached multimillion-dollar settlements with the Securities and Exchange Commission on Friday over how they labeled millions of trades. Goldman agreed to pay a $6 million fine for sending inaccurate or incomplete trading data to the SEC on at least 163 million transactions over the course of a decade. Meanwhile, the SEC said that a coding error at Citadel Securities led to short sales being labeled as longs, and vice versa, and that Ken Griffin’s market-making firm would pay $7 million.
CoinShares Targets US Investors as it Launches Hedge Fund Division (ProactiveInvestors)
CoinShares International, a major European cryptocurrency asset manager, has announced that it is launching a hedge fund division in the US as it prepares to roll out its offering to US investors. The move comes despite ongoing uncertainty around crypto regulation in the world’s largest economy. In an announcement on Friday, the Jersey-based company said through CoinShares Hedge Fund Solutions it will make a range of private investment products available to qualified US investors, its first expansion beyond its established European base.
A Small New York Hedge Fund has Secretly Managed $7 Billion for a Russian Oligarch for Over a Decade, the SEC Says (Business Insider)
A small, little-known New York hedge fund and its owner made tens of millions of dollars managing money for an unnamed Russian tycoon who has political clout in Moscow, the Securities and Exchange Commission said. On Tuesday, the US financial watchdog charged Concord Management, based in Westchester County, and its owner, Michael Matlin, with not registering with authorities that they were investing money on behalf of “a wealthy former Russian official widely regarded as having political connections to the Russian Federation.”
Thursday 9/21 Insider Buying Report: CECO, GRNT (Nasdaq.com)
On Monday, CECO Environmental’s Director, Richard F. Wallman, made a $159,900 buy of CECO, purchasing 10,000 shares at a cost of $15.99 each. CECO Environmental is trading off about 0.2% on the day Thursday. Before this latest buy, Wallman bought CECO on 2 other occasions during the past twelve months, for a total investment of $315,870 at an average of $14.36 per share. And at Granite Ridge Resources, there was insider buying on Monday, by Director Thaddeus Darden who purchased 20,000 shares at a cost of $5.74 each, for a total investment of $114,800. Before this latest buy, Darden made one other buy in the past twelve months, purchasing $18,420 shares at a cost of $6.14 each. Granite Ridge Resources is trading down about 0.2% on the day Thursday.
Around $19M Bet On Westrock Coffee? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Westrock Coffee: The Trade: Westrock Coffee Company (WEST) Director Michael Boylan acquired a total of 1,876,688 shares an average price of $10.00. To acquire these shares, it cost around $18.77 million. Ambrx Biopharma: The Trade: Ambrx Biopharma Inc. (AMAM) 10% owner Cormorant Private Healthcare Fund III LP acquired a total of 2,152,738 shares at an average price of $9.12. To acquire these shares, it cost around $19.63 million.
