Frequently Asked Questions
- What is this case about?
- Why did I receive a Notice?
- Who is a U.S. Investor?
- Who is eligible to participate in the BlueCrest Capital Fair Fund?
- Who is excluded from participating in the BlueCrest Capital Fair Fund?
- What is the amount of the BlueCrest Capital Fair Fund?
- What do I need to do to participate in the BlueCrest Capital Fair Fund?
- Who is the Fund Administrator?
- How do I get more information or contact the Fund Administrator?
- What is this case about?
On December 8, 2020, the Commission issued an Order instituting Administrative and Cease-and-Desist Proceedings (the "Order") against BlueCrest Capital Management Limited ("BlueCrest Capital"). The proceedings arose from BlueCrest Capital’s management of a proprietary hedge fund, BSMA Limited (“BSMA”). In the Order, the Commission found that, from October 2011 through December 2015, BlueCrest Capital engaged in a course of conduct stemming from its management of BSMA that was detrimental to investors in the BlueCrest Capital’s flagship client hedge fund, BlueCrest Capital International Master Fund Limited. The Commission ordered BlueCrest Capital to pay $107,560,200 in disgorgement, $25,154,306 in prejudgment interest, and a $37,285,494 civil money penalty, for a total of $170,000,000, to the Commission. The Commission created the BlueCrest Capital Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty paid, along with the disgorgement and interest paid, can be distributed to harmed investors. BlueCrest Capital has paid in full.
Top - Why did I receive a Notice?
You received a Notice because you were identified as a U.S. Investor who may have suffered a loss as a result of management fees paid in connection with investments in BlueCrest Capital International Limited and BlueCrest Capital L.P. during the Relevant Period.
Top - Who is a U.S. Investor?
A U.S. Investor is defined in the approved distribution plan as a Person or their lawful successor, who held BlueCrest Capital International Limited and/or BlueCrest Capital L.P. during the Relevant Period, and for whom/which the country included as the "tax domicile" or "investor domicile" as reflected on the records of BlueCrest Capital International Limited or BlueCrest Capital L.P. during any part of the Relevant Period is the United States and, if no country is listed as the tax domicile or investor domicile, for whom/which the country included as the "registered country" on those records is the United States. For purposes of this definition, the "records of BlueCrest Capital International Limited or BlueCrest Capital L.P." refers to the records produced by the Respondent's administrator on June 25, 2021, July 6, 2021, July 14, 2021, and August 12, 2021. You can view the approved distribution plan on the "Documents" tab of this website.
Top - Who is eligible to participate in the BlueCrest Capital Fair Fund?
U.S. Investors who are determined by the Fund Administrator to have suffered a Recognized Loss pursuant to the Plan of Allocation in the approved distribution plan, and who are not Excluded Parties or Unresponsive Preliminary Claimants, as those terms are defined in the approved distribution plan. You can view the approved distribution plan on the "Documents" tab of this website.
Top - Who is excluded from participating in the BlueCrest Capital Fair Fund?
Excluded from the BlueCrest Capital Fair Fund are (a) BlueCrest Capital and its advisers, agents, nominees, assigns, creditors, affiliates (except AllBlue L.P.) or controlled entities; (b) the Fund Administrator, its employees, and those persons assisting the Fund Administrator in its role as the Fund Administrator; and (c) any purchaser or assignee of another Person’s right to obtain a recovery from the BlueCrest Capital Fair Fund for value; provided, however, that this provision shall not be construed to exclude those Persons who obtained such a right by gift, inheritance, or devise.
Top - What is the amount of the BlueCrest Capital Fair Fund?
The BlueCrest Capital Fair Fund currently holds approximately $170 million, composed of $107,560,200 in disgorgement, $25,154,306 in prejudgment interest, a $37,285,494 civil money penalty, and accrued interest.
Top - What do I need to do to participate in the BlueCrest Capital Fair Fund?
In order to be considered for eligibility to receive a Distribution Payment under the approved distribution plan, you must return a completed and executed Preliminary Claimant Certification Form enclosed with the Notice mailed in May of 2022. Participation in the BlueCrest Capital Fair Fund does not require you to release any rights or potential claims you may have against the Respondent (other than with respect to the Fund Administrator), including but not limited to the Respondent’s past and present directors, officers, promoters, advisers, agents, affiliates, nominees, assigns, creditors, or controlled entities. A Preliminary Claimant, as that term is defined in the approved distribution plan, whose address the Fund Administrator has not been able to verify and/or who does not timely respond to the Fund Administrator’s attempts to obtain information, including any information sought in the Plan Notice shall be deemed as unresponsive. Unresponsive Preliminary Claimants will not be eligible for a distribution under the approved distribution plan.
Top - Who is the Fund Administrator?
The Commission appointed Kurtzman Carson Consultants, LLC, as the fund administrator for the BlueCrest Capital Fair Fund on June 3, 2021. The Fund Administrator will be responsible for administering the Fair Fund in accordance with the approved distribution plan.
Top - How do I get more information or contact the Fund Administrator?
Additional information regarding the BlueCrest Capital Fair Fund may be found on this website. You may also call the toll-free number 1-855-905-6280 to ask questions or to update your address, or you may email the Fund Administrator at info@BlueCrestCapitalFairFund.com. If you would like to get copies of the relevant documents, including the Plan of Distribution, please visit the Case Documents tab on this website.
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