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SEC Opens Probe Into Archegos Trades That Triggered Rout (1)

March 31, 2021, 6:17 PM

The U.S. Securities and Exchange Commission opened a preliminary investigation into Bill Hwang over his leveraged trades that have roiled Wall Street.

The SEC started the civil probe in recent days after Hwang’s Archegos Capital Management made a series of wrong-way wagers that prompted brokers to liquidate his positions, said a person familiar with the matter, who asked not to be named because the inquiry isn’t public. The examination is in its early stages and is being led by the asset-management group in the SEC’s enforcement division.

It’s fairly routine after a major market blowup for the SEC to launch ...

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