A European Union ban on inducements for recommending sales of financial products could cut costs for retail customers by more than a third, the bloc's financial services chief Mairead McGuinness has said.
Global equity funds witnessed net outflows for a ninth straight week in the seven days to Jan. 4 as investors remained cautious ahead of the release of the Federal Reserve's latest meeting minutes.
Hedge fund fees have dropped to their lowest level since the global financial crisis in 2008, research firm Hedge Fund Research (HFR) said on Friday, as high inflation and recession fears hit investors.
Citigroup analysts turned "underweight" on U.S. equities on recession fears but were bullish on European stocks, saying much of the pessimism was already priced-in.
FTX's former top lawyer Daniel Friedberg has cooperated with U.S. prosecutors as they investigate the crypto firm's collapse, a source familiar with the matter said, adding pressure on founder Sam Bankman-Fried who was arrested on criminal fraud charges last month.
The U.S. Securities and Exchange Commission (SEC) said a former BlackRock Advisors, LLC portfolio manager has agreed to pay a $250,000 penalty to resolve charges he failed to disclose a conflict of interest.
Kenneth Griffin's Citadel marked record revenues in its hedge fund and electronic-trading businesses for 2022 despite turmoil in global capital markets, a source familiar with the matter said on Thursday.
Cryptocurrency firm Genesis has cut 30% of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter, as pressure builds on crypto industry executives to cut costs in the wake of a downturn.
The top 5% of the world's hedge fund managers are set to take 80-90% of investor inflows in 2023, according to new research from Agecroft Partners which raises money for hedge funds.
