GAM Accused of Accounting Misstatements Connected to Hedge Fund Acquisition (The Wall Street Journal) The Swiss stock exchange on Wednesday accused beleaguered money manager GAM Holding AG of accounting misstatements connected to its 2016 acquisition of a U.K. hedge fund. Zurich’s SIX exchange said it is seeking a sanction against GAM for understating financial liabilities in its 2017 financial statements, a result of failing to recognize a liability stemming from the acquisition.