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Markets await Fed meeting minutes

U.S. Treasury yields rose Wednesday on weaker demand for fixed income assets as investors awaited the release of the Federal Reserve’s minutes from its July meeting. Investors will be watching for the Fed’s Open Market Committee’s meeting minutes from July 26 and 27, when it decided to raise the target range for the federal funds […]

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Wells Fargo Pulls Back From Mortgage Business

Wells Fargo could be looking at a major reduction in its once market-leading mortgage business, Bloomberg reported over the weekend. Wells Fargo shares edged lower Monday following a report from Bloomberg news that suggested the bank is preparing to significantly reduce its once-leading mortgage business. Bloomberg said the shift, which is expected to include big […]

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SEC Charges Promoters of Desilu Studios Offering Fraud

The Securities and Exchange Commission today announced that it has filed an injunctive action against Manhattan Beach, California-based Desilu Studios, Inc. and its founder, Charles B. Hensley, from Torrance, California for an alleged offering fraud that raised at least $596,360 from investors. The SEC’s complaint alleges that from June 2017 through at least July 2018, Desilu […]

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Tiger Global losses exceeded 50%

Tiger Global Management’s has incurred one of the largest-ever losses by a hedge fund in 2022.  2022 is getting worse with losses at the firm’s high-profile hedge fund ballooning to 52% through May. Tiger reported the drop, which extends a 44% loss recorded through April, in a note to its investors Thursday. The firm’s long-only […]

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UBS to Pay $25 Million to Settle SEC Fraud Charges Involving Complex Options Trading Strategy

The Securities and Exchange Commission today announced that UBS Financial Services Inc. has agreed to pay approximately $25 million to settle fraud charges relating to a complex investment strategy referred to as YES, or Yield Enhancement Strategy. According to the SEC’s order, UBS marketed and sold YES to approximately 600 investors through its platform of […]

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