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Bill Ackman has decided to cancel the initial public offering (IPO) of his new fund, Pershing Square USA, after facing a lack of investor demand. Initially aiming to raise $25 billion, Ackman had to lower the target to around $2 billion. He stated that he is reevaluating the structure of the closed-end fund to address concerns from potential investors. This decision comes after weeks of promoting the fund and its potential to democratize access to a successful hedge-fund strategy for ordinary investors. [Extracted from the article]

The Securities and Exchange Commission (SEC) has adopted new rules that extend its authority to high-speed traders and hedge funds, requiring them to meet new capital requirements, register their activities, and report more information on their transactions. The SEC's goal is to bring its regulations up to speed with the changing market, particularly in electronic trading of U.S. Treasurys. While some industry groups have expressed concerns about the increased costs and potential reduction in liquidity, the final rules have been adjusted to address some of these concerns. Hedge funds, in particular, have seen some wins as certain aspects of the proposed rules were omitted. However, there are still ongoing legal battles between trade groups and the SEC over other regulations. [Extracted from the article]

Jim Chanos, a well-known short seller, is closing down his hedge funds after nearly four decades. Chanos has made a career out of betting against overpriced or fraudulent companies, including successful bets against Enron and unsuccessful campaigns against Tesla and AOL. However, in recent years, Chanos has struggled to turn his pessimistic positions into profits, and his firm now manages less than $200 million, down from $6 billion in 2008. Chanos plans to return most of his investors' cash by the end of the year and will focus on advisory and research work for select clients. [Extracted from the article]

Leder, kwexclusive, Trusts/Funds/Financial Vehicles, wsjfinance-ws, Financial Investment Services, Alternative Investments, Financial Services, Hedge Funds, Portfolio/Fund/Asset Management, Investing/Securities Keywords: leder; wsjfinance-ws; kwexclusive; Trusts/Funds/Financial Vehicles; Financial Investment Services; Portfolio/Fund/Asset Management; Alternative Investments; Financial Services; Hedge Funds; Investing/Securities EN leder wsjfinance-ws kwexclusive Trusts/Funds/Financial Vehicles Financial Investment Services Portfolio/Fund/Asset Management Alternative Investments Financial Services Hedge Funds Investing/Securities N.PAG N.PAG 1 10/04/23 20230930 NES 230930 Hedge fund Third Point, after years of strong returns, has registered big losses after misreading the market. Advertisement Loeb, who began his career as a junk-bond salesman catering to investors including hedge-fund titan and current-Carolina Panthers owner David Tepper, launched Third Point in 1995. [Extracted from the article]

Keywords: Financial Investment Services; Security Brokering/Dealing; Online Security Brokering/Dealing; Business/Consumer Services; Banking/Credit; Financial Services; Financial Technology; Investing/Securities; Shell Company; Technology EN Financial Investment Services Security Brokering/Dealing Online Security Brokering/Dealing Business/Consumer Services Banking/Credit Financial Services Financial Technology Investing/Securities Shell Company Technology N.PAG N.PAG 1 01/30/23 20230125 NES 230125 Companies including Circle Internet Financial and eToro have failed to secure the regulator's approval Graph: The Securities and Exchange Commission recently issued a list of 16 questions that it wanted crypto companies to address in public filings. Crypto-focused companies including Bullish Global, Circle Internet Financial and eToro Group Ltd. have failed to secure the SEC approvals that are required of companies going public. [Extracted from the article]

GloriFi CEO Toby Neugebauer won over A-list investors to build a bank for people who consider Wall Street too liberal. Within months it was nearly bankrupt. [Extracted from the article]