A spokesperson for the hedge fund declined further comment on Thursday. Big banks typically agree terms with hedge funds that allow them to cut ties at short notice, five sources from prime brokerages and hedge funds told Reuters. Prime brokerages may now refine due diligence processes and perform more thorough background checks on hedge funds, said Jim Neumann, chief investment officer of Sussex Partners, which advises investors on how they give their money to hedge funds. But many of these agreements mainly focus on the financial viability of the hedge fund, two of the sources said. One hedge fund manager said he was asked in his due diligence with the bank if he was approved by the UK regulator, the Financial Conduct Authority.

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Persons: Banks, Crispin Odey, Goldman Sachs, Morgan Stanley, MS.N, Odey, Epstein, Michael Oliver Weinberg, JPMorgan Chase, JPM.N, Jeffrey Epstein, Bill Hwang, brokerages, Jim Neumann, Neumann, Archegos, Erika Kelton, Phillips, Cohen, Nell Mackenzie, Kirstin Ridley, Carolina Mandl, Dhara Ranasinghe, Elisa Martinuzzi, Matthew Lewis Organizations: Wall, Odey, Management, Financial Times, Tortoise Media, JPMorgan, Odey Asset Management, Reuters, CMT, Archegos Capital Management, Sussex Partners, UBS, Financial, Authority, Thomson Locations: London, New York