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Two Sigma, a prominent hedge fund, has agreed to pay a total of $255 million in penalties and restitution to settle charges with the Securities and Exchange Commission (SEC). The SEC's investigation revealed that the firm failed to address known vulnerabilities in its investment models. As part of the settlement, Two Sigma has already repaid $165 million to affected funds and accounts. The SEC's announcement highlights the firm's obligations regarding whistleblower treatment as well as its trading practices. The bankruptcy trustee for Pettit has expressed confidence that victims will see recovery as the cases reach a notable milestone.
The SEC settled charges against hedge fund Two Sigma over failure to address known vulnerabilities in its investment models, the regulatory agency said. Two Sigma voluntarily repaid $165 million to impacted funds and accounts during the SEC's investigation https://t.co/3OkAJerDlM https://t.co/5LutbxQ1mZ
Quant giant Two Sigma to pay $255 million in penalties and restitution to settle SEC charges related to its trading and how it treated a whistleblower…Dave Michaels and I wrote abt the issue last year.
SEC: TWO SIGMA REPAYS $165M TO IMPACTED FUNDS AND ACCOUNTS
