Connecticut hedge fund managers beware: David B. Fein has come to your state and he intends to wield a big prosecutorial stick.
Mr. Fein was sworn in as United States Attorney for the District of Connecticut on July 12 and got straight down to business in his inaugural speech at Yale Law School. He told the assembled audience that his goal is to “aim higher … aiming higher means taking investigations further, acting more swiftly and seeking to have a bigger impact in what we do.”
Specifically, Mr. Fein intends to focus on “securities fraud in Fairfield County, the third-largest home of hedge funds in the world” behind New York City and London. His office will work with state and federal regulators and enforcement agencies to investigate and prosecute “sophisticated financial crime.”
To that end, Mr. Fein wasted no time in assembling an in-state securities fraud task force, the details of which are not yet available, said Thomas Carson, his spokesman.
Given that Mr. Fein is delighted about having “the great privilege of working at a job that draws us to the office each morning and makes us reluctant to leave each evening,” as he said in his speech, Granite State hedge fund managers might be hearing from his office sooner rather than later.