Bloomberg reports that Boston-based Wellington Management Company is the fifth money manager to have internal documents requested by the feds, though the request appears to have been over the phone as opposed to in person and by brute force. For any investors or otherwise connected people worrying right about now, put those fears to rest.
Wellington has personally checked out the records and determined no wrongdoing. So, shipshape.
Wellington said on an internal conference call yesterday that the firm is conducting a review of records, though it said it didn’t engage in illegal trading, according to the person, who asked not to be named because the firm is private. In a call today, Wellington officials disclosed the document request, without specifying what kind of information investigators are seeking, the person said.
Nothing to see here.
What’s a mutual fund trader get when he scalps an extra 10% on an insider tip? An extra week’s salary in the bonus check, probably.
Just a guess but it seems more likely that they’re looking for traders/analysts who were providing info to third parties so said third parties could front-run the fund.
This shit happens at DE Shaw all the time. It’s no big deal.
receiving third party research from a firm that may or may not have possibly received insider trading apparently equals insider trading. how many cfa’s does the fbi have on the case?
Plausible explanations have no place on this message board. GTFO
This is why I left all the research and actual stock picking up to Bernie. I mean really, who needs this shit? Which is why I stuck to just reading Investor’s Bussiness Daily.
Walter Noel
I am sorry, but you used CFA as a noun in your sentence and your Charter will be removed immediately. We can tolerate front running, misallocating trades, ponzi schemes etc, but the misuse of the designation is unacceptable.
Regards,
The CFA Institute
What do you call a guy that fails out of Hofstra and gets fired by UBS?
A mutual fund manager!!
I will be here all week…..thank you.
Not since you’ve been laid off.
Bet they’re looking at the 10 or so hedge funds the firm runs rather than mutals.
Please learn to use punctuation.
plenty of smart, clever commentary happens on DB boards, sorry you can’t provide any.
In sum, kill yourself.
We’re getting the band back together, guys! It’s gonna be awesome!
Hello. – And Bye