Month: September 2019

Posted on

Article: Ken Griffin’s many many mansions: Billionaire’s latest is a $99M Palm Beach estate

Article - Media

Ken Griffin’s many many mansions: Billionaire’s latest is a $99M Palm Beach estate

Katherine Kallergis

TheRealDeal, 9 September 2019

Collage of Ken Griffin’s properties and Ken Griffin

Just when it looked like billionaire hedge funder Ken Griffin was taking a breather from assembling pricey property in Palm Beach — and the world — he has paid $99.1 million for an oceanfront estate.

The seller was billionaire real estate investor Frank McCourt, who unloaded the 18,452-square-foot mansion at 60 Blossom Way. Griffin acquired the estate through Providencia Partners LLC, property records show. McCourt, the former Los Angeles Dodgers owner, turned a 30 percent profit on the property, which he bought two years ago.

Read full article.

 

Comments: This marks the second most expensive residential sale in history for the exclusive island. Griffin has now spent at least $350 million on land in Palm Beach alone.

Posted on

Fined: Kalos Capital, Inc. Fined by FINRA

Fined

Kalos Capital, Inc. Fined by FINRA

A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured, fined $30,000 and ordered to pay $86,614, plus interest, in restitution to customers. Kubiak was fined $5,000 and suspended from association with any FINRA® member in all capacities for three months. Without admitting or denying the findings, the firm and Kubiak consented to the sanctions and to the entry of findings that Kubiak recommended the purchase of leveraged and inverse exchange traded funds (LIETFs) to customers without having a sufficient understanding of the risks and features associated with the LIETFs.

Read full report.

 

Posted on

Article: Court Dismisses Some FX Rigging Claims Against Credit Suisse

Article - Media, Publications

Court Dismisses Some FX Rigging Claims Against Credit Suisse

Aziz Abdel-Qader, 04 September 2019

A New York judge overseeing litigation accusing 16 banks of rigging prices in the foreign exchange market on Wednesday narrowed, but refused to dismiss antitrust lawsuits against Credit Suisse Group AG.

A group of investors has sued the global banks back in May for allegedly rigging prices for their own benefit by sharing confidential orders and trading positions. Continue reading “Article: Court Dismisses Some FX Rigging Claims Against Credit Suisse”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?