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POLICY DECISION

机译:决策

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摘要

Office of the United States Attorneys had subpoenaed Level Global Investors as part of a widening insider trading probe, the New York hedge fund quickly did some damage control. The $4 billion firm —founded in 2003 by Anthony Chiasson and David Ganek, alumni of Steven Cohen's SAC Capital Advisors — fired off a reassuring letter to investors."The Investment Manager and the Level Funds have professional liability insurance which we expect will cover our legal costs and expenses," wrote Ganek, who, like Cohen, has used his wealth to build a lavish art collection.In February, Level Global announced that it was shutting down; although his firm hasn't been charged, Ganek found the investigation too distracting. The case highlights the growing role that insurance plays in shielding hedge funds, and their clients, from potential legal bills and in forestalling investor redemptions.
机译:作为对内幕交易调查范围扩大的一部分,美国检察官办公室传唤了Level Global Investors,纽约对冲基金迅速进行了一些损害控制。这家市值40亿美元的公司由Anthony Chiasson和Steven Cohen的SAC Capital Advisors校友David Ganek于2003年创立,向投资者发出了令人放心的信。成本和费用”,与科恩(Cohen)一样,利用自己的财富建立了庞大的艺术品收藏的加内克(Ganek)写道。2月,Level Global宣布将关闭。尽管尚未向他的公司起诉,但加内克(Ganek)认为调查过于分散注意力。该案凸显了保险在保护对冲基金及其客户免受潜在法律费用以及阻止投资者赎回方面所起的日益重要的作用。

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