The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Treasury, proposed new regulations on Tuesday that would require investment advisers to help prevent money laundering and the financing of terrorism.
Global hedge funds bought more stocks than they sold for the second consecutive week, mainly in the so-called cyclical sectors, such as energy, industrials and materials, amid an “almost no panic” market, according to a Goldman Sachs report.
Australian financial conglomerate Macquarie Group said on Tuesday its nine-month profit fell “substantially” due to weakness in its commodities and global markets business, adding the high-profile head of the division would exit the company.
The craze for artificial intelligence stocks sent options traders piling into bets on Arm Holdings on Monday, with many positioning for more gains in the shares after they almost doubled in price in less than a week.
U.S. regulators have asked Citigroup for urgent changes to the way it measures default risk of its trading partners and the bank’s own auditors have found a plan to improve internal oversight to be lacking, developments that could hinder CEO Jane Fraser’s plans to revive the bank’s fortunes.
Investments to new hedge funds in 2023 fell to new lows, while established hedge funds hiked fees to the highest on record, said a client report by Goldman Sachs dated Friday and seen by Reuters on Monday.
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