A U.K.-based hedge fund that was sued by the
On Friday, Headstart told Reuters the trading activity at issue was reviewed by Britains
"The FSA was satisfied, as Headstart is, that there was nothing improper or irregular in the actions now complained of," the fund said. "Headstart is confident that the complaint is utterly misguided and it will vigorously defend the SEC's contentions."
The Headstart case is the second lawsuit by the SEC against a UK hedge fund over mutual fund trading practices.