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UBS announces surprise $861 million Archegos hit
Like Morgan Stanley, UBS kept its investors in the dark for weeks about the size of the losses it incurred in the collapse of Bill Hwang's family office.
Archegos is a wake-up call for family offices
Family offices traditionally were set up by wealthy families to manage their assets, along with handling taxes, estate planning and other chores. As the ranks of the rich expanded, so did the number of family offices.
SEC to examine fund disclosure rules after Archegos
Agency officials reportedly are looking at ways to increase transparency for the types of derivative bets that sank Archegos Capital Management.
Morgan Stanley exited part of Archegos holdings before most rivals
The bank's sale of $5 billion of shares owned by Archegos on March 25, the day before the deluge of block trades by other firms, helped Morgan Stanley emerge largely unscathed from the fund's flameout.
Wall Street banks summoned by regulators over Hwang’s blowup
The Securities and Exchange Commission summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s Archegos Capital Management.
