Hedge Funds

Clinton Group gets reprieve from SEC


Just days before the deadline for third-quarter redemption requests, the Clinton Group received word from the SEC that the Commission has determined it will "not recommend any action" against the Clinton Group.

The highly unusual written notice, together with a similar letter that Clinton received last month from the Commodities Futures Trading Commission, comes at a critical time for Clinton.

Clinton's hedge fund assets have plunged from more than $5 billion to $1.45 billion over the last year, following a spate of poor performance, personnel losses and most damaging, accusations of mis-pricing lodged by former asset-backed securities portfolio manager