Archegos Capital Management disclosed almost nothing on the Securities and Exchange Commission’s repository for securities filings, according to Forbes.
- A trace of Archegos on the SEC’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) yielded near-zero results except the firm and its founder Sung Kook (Bill) Hwang.
- Archegos appears to have built its positioning almost fully through swap trades, and its relationship to several brokerages. It relied on over-the-counter swaps to build exposure to companies like ViacomCBS.
- In 2013, Hwang converted Archegos Capital Management into a “family office” which exempted it from the SEC’s reporting requirements for investment firms.
- The SEC in 2012 brought an insider trading and market manipulation case against Hwang and his Tiger Asia, which agreed to pay $44 million in fines. Management company Tiger Asia Management admitted to breaking the law, and the SEC probe put Tiger Asia out of business.