Former UBS, Merrill Brokers Barred in New Jersey Over Market-Timed Trades Three former brokers at Merrill Lynch & Co. and UBS AG, whose allegedly deceptive trades for a hedge fund contributed to $67.5 million in regulatory sanctions, agreed to be barred from the industry in New Jersey.

Luxembourg Regulator to Seek Liquidation of LuxAlpha Fund Over Madoff Loss Luxembourg’s financial regulator will ask a court to liquidate Access International Advisors LLC’s LuxAlpha Sicav-American Selection fund over losses from investments it made with Bernard Madoff.

Massachusetts Pension Board Fires Austin Capital After Madoff Investment The Massachusetts Pension Reserves Investment Management Board, which oversees $38 billion, voted to fire hedge-fund firm Austin Capital Management after losing $12 million with alleged Ponzi scheme operator Bernard Madoff.

Kravis Says KKR Is Focusing on Managing Investments as Economies Contract Henry Kravis, co-founder of private equity firm KKR & Co., said he will focus on managing companies already owned by the buyout firm as the U.S. and Europe enter recession.

Kanetsu to Close Top-Performing Japan Hedge Fund, Exit Commodity Trading Kanetsu Asset Management Co. will liquidate hedge funds, including Japan’s best performer last year, as commodities trading shrinks, a company executive said.

Lloyds Scottish Widows Unit Suspends Redemptions From U.K. Property Fund Lloyds Banking Group Plc’s Scottish Widows unit stopped investors withdrawing investments from one of its U.K. property funds as it seeks to restore cash levels depleted by customer redemptions.

Norway Oil Fund Losses in Lehman Shares Exacerbate Kingdom’s Worst Return Every weekday when he’s in Oslo, Yngve Slyngstad takes the elevator to his office at Norway’s central bank, logs on to his computer and checks about $300 billion of international investments.

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