SFC Fines Hedge Fund HK$400K for Breaching Liquidity Rules (Opalesque)
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined KTF Capital Management Limited (KTFCM) HK$400,000 (US$51,000) for failures to comply with the Securities and Futures (Financial Resources) Rules (FRR), a liquidity regime. The SFC found that KTFCM failed to maintain its required liquid capital of approximately HK$2.8m between 13 and 18 December 2018 and notify the SFC when it became aware of its inability to comply with the financial resources requirements. On 13 December 2018, KTFCM subscribed, on a proprietary trading basis, for the shares of Fosun Tourism Group upon its IPO on Hong Kong’s Stock Exchange.
Invesco’s AUM Falls 10.6% in Quarter, Down 8.8% for Year (Pensions&Investments)
Invesco reported assets under management of $1.39 trillion as of June 30, down 10.6% from three months earlier, and down 8.8% from a year earlier, said a news release Wednesday. Net market losses and foreign-exchange rate movements reduced AUM by $142.3 billion and $19.7 billion, respectively, in the second quarter. Invesco posted net long-term outflows of $6.8 billion in the second quarter — the first net long-term outflows recorded by the firm in two years — compared with net inflows of $17.2 billion in the first quarter, and net inflows of $31.1 billion in the second quarter of 2021.
Thursday 7/28 Insider Buying Report: HCCI, UAL (Nasdaq.com)
On Wednesday, Heritage-Crystal Clean’s CEO, Brian Recatto, made a $4.05M buy of HCCI, purchasing 150,000 shares at a cost of $27.00 a piece. So far Recatto is in the green, up about 22.2% on their buy based on today’s trading high of $33.00. Heritage-Crystal Clean is trading up about 4.9% on the day Thursday. And at United Airlines Holdings, there was insider buying on Tuesday, by Director Edward Shapiro who bought 50,000 shares at a cost of $35.74 each, for a trade totaling $1.79M. Before this latest buy, Shapiro bought UAL on 2 other occasions during the past twelve months, for a total cost of $4.12M at an average of $41.20 per share. United Airlines Holdings is trading down about 1.9% on the day Thursday.
Insiders Selling Snap, Domino’s Pizza And 2 Other Stocks (Benzinga)
Snap: The Trade: Snap Inc. (SNAP) Chief Technology Officer Robert Murphy sold a total of 1,167,374 shares at an average price of $9.80. The insider received around $8.82 million from selling those shares. AutoNation: The Trade: AutoNation, Inc. (AN) 10% owner Edward S Lampert sold a total of 221,989 shares at an average price of $112.43. The insider received around $24.96 million as a result of the transaction.
Whistleblower Says Coinbase has ‘Insider Trading’ Problem, Calls Out Inaction (Finbold)
After three people got arrested for cryptocurrency insider trading following a tip by a Twitter (NYSE: TWTR) user, the person responsible for their arrests believes there’s a larger problem that remains unaddressed, which, according to him, is the lack of action by the cryptocurrency exchange where it all happened – Coinbase. Talking to a YouTube investigator Coffeezilla, known for exposing several scams related to cryptocurrencies, the Twitter tipster who goes under the handle Cobie expressed disappointment at how things have been handled and that people were perhaps focusing on the wrong issue, as he said in the video interview published on July 27.
