Pressure on regulators after hedge funds make GBP 1bn on Northern Rock

From: Scotland on Sunday | Date: September 23, 2007| Author: | Copyright information

REGULATORS are expected to come under further pressure this week to tighten their scrutiny of the financial services sector after revelations that hedge funds may have made GBP 1bn after talking down shares in Northern Rock.

The biggest shareholder in the company yesterday accused some hedge funds of causing chaos in the market and said the regulators were failing to monitor trading in Northern Rock shares.

Philip Richards, co-founder of hedge fund RAB Capital, said in an interview that the process had created "an atmosphere of panic".

Richards warned that rival funds could target other ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

Don't get mad about Northern Rock, get even
; ...shareholder in Northern Rock when it was nationalised...residual value of Northern Rock shares (which may of...bet, if I were a Northern Rock shareholder, would...other hand, if the Northern Rock shares turn out to be...extreme with the Rock's ...
Northern Rock slides again on bid price anxieties
; NORTHERN Rock shares plunged again yesterday...have submitted proposals to Northern Rock expressing an interest...bank last week, Northern Rock shares rose 6 per cent to a recent...cut its target price on Northern Rock from 390p to 180p, predicting...We ...
Shares turn on growing hopes of a Northern Rock rescue ; BANKING
; NORTHERN ROCK shares rose 15p to 150.6p today...and started talks with Northern Rock's advisers. Flowers...investors sell Northern Rock shares, setting a target of...bid as high as this." Northern Rock has borrowed up to Pounds...
Northern Rock rallies on hopes of private equity deal
; By Sean Farrell Northern Rock shares rose yesterday on...to be looking at Northern Rock's books. The rival...10bn to support Northern Rock on its own or if...handling of the Northern Rock crisis and the credit...confid-ential rescue of Northern Rock. ...
Reject the bids and nationalise Northern Rock
; Whether Northern Rock is nationalised...return. Turning to Northern Rock, we find a curious...guarantees and loans, Northern Rock would have rapidly...worth of loans to Northern Rock. These comprise...extraordinary explosion in Northern Rock's lending. As ...
Hovering hedge funds provide some relief for Northern Rock shares
; NORTHERN Rock shares rose almost 12 per cent...conducting due diligence on Northern Rock, while fellow hedge...consecutive day for Northern Rock shares, most analysts warned...yesterday's rise, the Northern Rock share cap is just GBP...
Desperate hunt for a bidder as Northern Rock shares dive again
; THE FUTURE of Northern Rock hang in the balance today...bank to take it over. Northern Rock shares plunged 40%, or 17612p...bidder rather than let Northern Rock go under. Lloyds TSB...The game is over for Northern Rock in its present form...emerges analysts reckon ...
Rock struggling as shares hit new low; Durham Castle was awarded [pounds sterling]500,000 by the Northern Rock Foundation to help with repairs.
; Byline: Lucy Farndon NORTHERN Rock shares crashed 26pc to an...money at all cost. Northern Rock shares closed 47.1p lower...secure some of the Rock's assets. Spanish...profits through the Northern Rock Foundation. The Foundation...
BANK'S RELIEF.. IT'S ONLY TWO BILLION; But Northern Rock panic will continue today.(News)
; ...withdrawn is about eight per cent of Northern Rock's pounds 24billion deposits. And the...Treasury, saying it is confident that Northern Rock is solvent and savers could continue...absolutely clear, if we believed that Northern Rock was not solvent, we would not have...troubled ...
Taxpayer can't be left with rubble from Northern Rock.
; ...into state ownership, was used by Northern Rock toraise funds against its safest mortgages...left with the 'rubbish' loans that Northern Rock wroteduring its ill-fated dash for...not end uppicking up the scraps of Northern Rock from Granite's table,' said Cable...simply wrong' to say ...