Highbridge Tactical Credit Fund Ltd - credit investment fund - Notes outcome of US Securities & Exchange Commission's case against BlueCrest Capital Management Ltd, with BlueCrest reaching a settlement with the SEC in the sum of USD170 million.
The sum will settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders from its flagship client fund, BlueCrest Capital International, to a proprietary fund, BSMA Ltd, and replacement of those traders with an underperforming algorithm.
Highbridge has registered its interest with the liquidators of the AllBlue funds and "is awaiting a response".
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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