U.S. SEC investigating Archegos for potential market manipulation – Businesshala

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(Businesshala) – The US Securities and Exchange Commission is investigating Archagos Capital Management, the family office run by Bill Hwang, which defaulted on a margin call earlier this year, Businesshala News reported on Friday, citing people familiar with the matter. Giving told.

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According to the report, the securities regulator is investigating the firm’s trading activity, including whether it has concealed the size of its bets on public companies.

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The report said officials are also investigating whether Arcgos has bought multiple stakes in the same company across multiple banks to avoid triggering public disclosure rules.

Archegos could not immediately be contacted for comment. An SEC spokesman declined to comment.

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The collapse of the investment firm in March caused losses of more than $10 billion in some global banks, with Credit Suisse Group AG, Nomura Holdings Inc and Morgan Stanley being the hardest hit.

The Arcagos recession called for more stringent regulation of family offices, which are investment funds set up by wealthy families. In May, SEC Chairman Gary Gensler told Congress that the commission was considering new trading rules to address the problems highlighted by the Argos explosion.

Reporting by Niket Nishant in Bengaluru; Editing by Anil D’Silva

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