Bloomberg reports, “Lake Shore Asset Management Ltd., a hedge fund firm run by a former chairman of the Chicago Mercantile Exchange, had its assets frozen by a federal court after regulators said it overstated its holdings.”
I am guessing that stories such as these will continue on for a couple more years until there is another huge financial crisis. Then our lawmakers will go on a crusade to score political points and pass overly restrictive legislation that ends up hurting investors and businesses more than helping protect investors.
But it is difficult to argue with Geoffrey Aronow, the former head of enforcement at the CFTC. “Whether it’s conscious or not, everyone is more attuned to concerns to what’s going on with hedge funds.”
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