The explosion of hedge fund Archegos's position of the century in March caused a number of large financial institutions to suffer heavy losses, and former employees of Archegos may not be able to stay out of it-because a large deferred bonus they should have received may have "gone with the wind" as a result of the explosion.

Archegos has not yet paid deferred bonuses owed to former employees, which ballooned to nearly $500m before it exploded in March, the Financial Times reported, citing sources.

Under the Archegos bonus deferred plan awarded to the newspaper, 25 per cent of the year-end bonus of employees participating in the plan will be invested in the plan, while Archegos promises to pay deferred bonus when employees leave, the specific amount will be no less than the amount of the original investment, depending on the fluctuation of the value of the hedge fund.

People familiar with the matter said at the time that employees initially invested less than $50 million in the plan.

In fact, the explosion of Archegos's position of the century was described by the market as "the biggest one-day loss in human history". For the big investment banks concerned, it lost far more than $500m.

According to Wall Street articlesBy the end of April, six investment banks had disclosed Archegos-related losses, including UBS, Nomura, Credit Suisse, Morgan Stanley and Mitsubishi, totaling more than $10 billion, making the Archegos explosion one of the most serious "trading accidents" in the global financial industry in many years.

And the explosion of Archegos also made the Securities and Exchange Commission (SEC) begin to study.How to make up the information disclosure loophole of investment company。

At the time, there were media reports that SEC had studied how to improve the transparency of derivatives and short positions, as well as consider increasing the frequency of information disclosure to help regulators identify potential risks in the financial system.