Hwang’s Insider-Trading Shackles Were Loosened by SEC Last April
- He petitioned agency in 2020 to remove ban on ties to brokers
- U.S. regulator has been monitoring fallout at Archegos
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Eleven months before his Archegos Capital Management blew up, Bill Hwang quietly got U.S. regulators to remove some of the shackles that had been placed on him years earlier as part of an insider-trading settlement.
Last April, the Securities and Exchange Commission lifted a ban on Hwang working at or running a securities firm. Though the ruling was little noticed at the time, it raises questions about whether the one-time star hedge fund trader was plotting some sort of comeback -- an effort likely derailed by the forced liquidation of more than $20 billion of stocks held by Archegos.