Here's the news item... Why would or should Tewksbury respond to the NY attorney general's subpoena? Tewksbury is a Bermuda company without US operations (that I know of). Not being a lawyer, I would think Spitzer only has power over the mutual funds allowing the late trades and then only if those mutual funds have NY investors. What would happen if Tewksbury just refused to cooperate with Spitzer?
If they conduct business in NY State they are subject to the laws and regulations of NYS, including and not limited to the exchange of securities. Get it?
I'm guessing that their management company is NY based. Many offshore funds have domestic management companies. But I like I said, it's just a guess.
What business are they conducting in NY State? No, I don't get it. Please elaborate. Unless Tewksbury is calling someone in NY to place his mutual fund trades I don't see what business he is doing in NY.
The management company is in Bermuda. Mr. Tewksbury and his employees are physically living and working in Bermuda.