A privately owned hedge fund sponsor, Ritchie Capital Management LLC will pay round $40 million in order to settle mutual-fund timing charges.
The firm was proved to participate in an illegal late-trading scheme from January 2001 through September 2003. It was allegedly placing late trades in shares of mutual funds and making a profit of roughly $30 million.
In addition to the fine totaling $30 million, the firm will also pay prejudgment interest of about $7.4 million and civil penalties of $2.5 million, while Warren DeMaio, supervisor of fund trading at Ritchie Capital, will pay $250,000 in civil penalties.
Russia and Iran play in tandem to raise oil prices, while the tandem of the United States and Saudi Arabia has a goal to cause oil prices to collapse
In the region and in the worldб America and China seem to have become the major rivals. The Asia-Pacific region seems to have become the main area of this rivalry