Sign up for free newsletter


Legal & Regulation

Prison bars

Former Goldman Sachs director Rajat Gupta guilty of fraud

Mon, 18/06/2012 - 10:47

Rajat Gupta a former Goldman Sachs board member has been convicted on insider trading charges by a court in New York. »

Jonathan Cohn, a principal for IT strategy and performance.  KPMG

KPMG and AxiomSL team up to assist investment advisers with Form PF

Fri, 15/06/2012 - 11:32

KPMG has formed an alliance with Axiom Software Laboratories, Inc. (AxiomSL), a provider of regulatory reporting and risk management solutions, to address new regulatory requirements facing investment advisors, including Form PF. »

Alex Ohlsson,  managing partner, Carey Olsen

Carey Olsen to offer Cayman Islands and BVI legal services

Thu, 14/06/2012 - 06:00

Carey Olsen is extending its legal service offering to include the jurisdictions of the Cayman Islands and the British Virgin Islands (BVI). »

Regulation under the magnifying glass

Reliance on the 4.13(a)(3) Exemption from Registration as a Commodity Pool Operator

Fri, 08/06/2012 - 09:37

The Commodity Futures Trading Commission (CFTC) recently approved amendments to various CFTC regulations relating to registration as a commodity pool operator (CPO), says Seward & Kissel LLP… »


HFA asks SEC for clearer rules on vetting investors

Wed, 06/06/2012 - 15:00

The Hedge Fund Association, an international organisation that represents hedge funds, service providers and investors, believes liberalised advertising and solicitations rules contained in the new Jumpstart Our Business Startups (JOBS) Act would help hedge funds raise assets and “encourage emerging managers to continue to enter the industry.”  »

Judgement hammer

CFTC orders Morgan Stanley & Co to pay USD5m civil penalty over unlawful trades

Wed, 06/06/2012 - 06:30

The US Commodity Futures Trading Commission (CFTC) has issued an order filing and settling charges that, over an 18-month period, Morgan Stanley & Co LLC (Morgan Stanley), a registered futures commission merchant (FCM), unlawfully executed, processed, and reported numerous off-exchange futures trades to the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) as exchanges for related positions (EFRPs). »


SEC charges additional defendants over USD90m Ponzi scheme

Tue, 05/06/2012 - 16:00

The Securities and Exchange Commission has amended its complaint against New York investment adviser, Brian Raymond Callahan, and Callahan’s investment advisory firms, Horizon Global Advisors Ltd, and Horizon Global Advisors, LLC, in the SEC’s emergency action filed on 5 March, 2012 that halted an ongoing USD90 million Ponzi scheme. »

Information sign

ASIC provides update on Trio

Tue, 05/06/2012 - 15:00

The Australian Securities and Investments Commission has provided an update on the work relating to the collapse of Trio Capital. »

Olivier Sciales, Chevalier & Sciales

AIFM Directive – Analysis highlights Commission’s divergence from Esma level 2 proposals

Wed, 30/05/2012 - 11:10

By Olivier Sciales of Chevalier & Sciales – The Alternative Investment Management Association has published an analysis of the divergences it has identified between the European Commission’s draft Level 2 regulation implementing the Alternative Investment Fund Managers Directive and the technical advice provided to the Commission last November by the European Securities and Markets Authority. »

Tracey McDermott,  acting director of enforcement and financial crime, FSA

FSA bans and fines hedge fund CEO Alberto Micalizzi GBP3 million

Wed, 30/05/2012 - 10:00

The Financial Services Authority (FSA) has published a decision notice indicating that it has decided to fine Alberto Micalizzi GBP3 million and ban him from performing any role in regulated financial services for not being fit and proper. This is the FSA’s largest fine for an individual in a non market abuse case. »


Miami HF adviser charged for misleading investors

Wed, 30/05/2012 - 06:30

The Securities and Exchange Commission has charged a Miami-based hedge fund adviser for deceiving investors about whether its executives had personally invested in a Latin America-focused hedge fund. »

Judgement hammer

Cayman Court rules against in kind distribution of fund assets

Wed, 09/05/2012 - 13:57

A recent decision of the Grand Court of the Cayman Islands (the Court) in the case of FIA Leveraged Fund has laid down, for the first time, the principles applicable to an in specie (or in kind) distribution of fund assets to investors. »

Judgement hammer

ECJ withholding tax ruling could give investment funds EUR4.2bn rebate  

Wed, 09/05/2012 - 10:00

A withholding tax ruling expected from the European Court of Justice (ECJ) could lead to investment funds receiving a EUR4.2bn tax rebate, says Deloitte, the business advisory firm. »

Daniel Maguire, head of SwapClear US.

Buy-side interest rate swap clearing surges ahead of Dodd-Frank mandate 

Wed, 02/05/2012 - 11:22

LCH.Clearnet Limited’s interest rate swap clearing service, SwapClear, has announced in increase in buy-side cleared volumes of 175% y-o-y to April 2012. »

Man talking through loud hailer

Eze Castle releases white paper on tech solutions for Form PF

Thu, 26/04/2012 - 16:00

Eze Castle has released a new white paper providing an in-depth examination of the challenges that Form Private Fund (Form PF) regulation poses to hedge funds. It also looks at the factors that customers should consider when making technology decisions for filing and data management. »

Dark pool of water

New Canadian regulations on dark pools protect institutional investors

Tue, 17/04/2012 - 16:00

Liquidnet, the global institutional trading network, has welcomed the decision by the Canadian regulators, released on Friday 13 April, to ensure that the new Canadian rules on dark pools preserve appropriate protections for institutions seeking to execute large block orders. »

Open door

Gibraltar opens door to further fund growth

Mon, 16/04/2012 - 09:34

The Government of Gibraltar has published the Financial Services (Experienced Investor Fund) Regulations, 2012, which various improvements to the original 2005 Regulations, including the opportunity for large funds to use reputable and substantial administrators based in jurisdictions of equivalent standing to Gibraltar.   »

Law suit

Euroption appeals SEB ruling

Mon, 09/04/2012 - 10:01

Specialist banking litigation firm Stewarts Law LLP is filing an appeal in the matter of Euroption Strategic Fund Ltd v Skandinaviska Enskilda Banken AB (“SEB” and the “Euroption Proceedings”) for its client, Euroption. »

Law books and gavel

RBC rejects CFTC allegations as “unwarranted”

Tue, 03/04/2012 - 19:10

Royal Bank of Canada has “vigorously rejected” the Commodity Futures Trading Commission’s (CFTC) allegations that the bank was involved with a “multi-hundred million dollar wash sale scheme”. »

David Meister, CFTC

CFTC charges Royal Bank of Canada with multi-hundred million dollar wash sale scheme

Tue, 03/04/2012 - 13:30

The US Commodity Futures Trading Commission (CFTC) has filed a complaint in federal district court in New York charging the Royal Bank of Canada (RBC), a Canadian bank and financial services firm doing business in New York, with conducting a multi-hundred million dollar wash sale scheme in connection with exchange-traded stock futures contracts. »

Judgement hammer

Court enters USD98.6m final judgement against UK hedge fund adviser Pentagon Capital Management

Tue, 03/04/2012 - 12:53

On Wednesday, March 28, 2012, United States District Judge Robert W Sweet of the Southern District of New York entered a final judgement in favour of the US Securities and Exchange Commission ordering total monetary relief of USD98.6 million from Pentagon Capital Management (PCM) and CEO Lewis Chester. »

Andrew Baker, CEO, AIMA

AIMA expresses concern about new European Commission AIFMD implementation text

Mon, 02/04/2012 - 09:51

The Alternative Investment Management Association (AIMA), the global hedge fund trade association, has expressed concern about the European Commission’s new draft text for the implementation of the Alternative Investment Fund Managers Directive (AIFMD). »

Irish flag

Ireland approves new corporate fund structure

Thu, 29/03/2012 - 10:00

The Irish Minister for Finance has approved, in principle, the development of legislation for a new corporate structure for funds which is intended to meet US ‘check the box’ requirements and reduce administrative costs. »

Information sign

Cayman Islands extends Master Funds registration deadline to 21 May 2012

Fri, 23/03/2012 - 06:00

The Cayman Islands Government has extended the deadline for the registration of ‘master funds’ by 60 days to 21 May 2012. »


SEC charges investment adviser James Michael Murray with fraud

Thu, 22/03/2012 - 14:10

The Securities and Exchange Commission has charged a San Francisco-area investment adviser with defrauding investors by giving them a bogus audit report that embellished the financial performance of the fund in which they were investing. »


CFTC vacates CME Clearing Europe Limited Registration as a derivatives clearing organization

Thu, 15/03/2012 - 10:00

At the request of CME Clearing Europe Limited (CMECEL), pursuant to Section 7 of the Commodity Exchange Act, the Commodity Futures Trading Commission issued an Order on 13 March, 2012, vacating the registration of CMECEL as a derivatives clearing organisation. »

Matthew Reinhard, Miller & Chevalier

Investing in trouble – the risks to hedge funds of international corruption

Sun, 11/03/2012 - 10:20

To date hedge funds have largely escaped the impact of the increasing scope and aggressive enforcement of the Foreign Corrupt Practices Act by the US Department of Justice and the Securities and Exchange Commission. However, Matthew Reinhard, a member at Washington, DC law firm Miller & Chevalier, argues that hedge fund firms must monitor two large FCPA risk areas: inbound investment into and outbound investment by the fund… »

James Lasry, Head of Funds at Hassans

Gibraltar expects to benefit from recent changes to SIF regulation in Luxembourg

Thu, 08/03/2012 - 16:00

Gibraltar could benefit from a change to Luxembourg law, which has slowed down the launch of specialised investment funds in the Grand Duchy. »


BVI FSC issues updated audit guidelines for funds and regulated companies

Wed, 29/02/2012 - 10:00

The British Virgin Islands Financial Services Commission (FSC) has issued guidance on the form and content of the audited financial statements to be prepared and filed by certain regulated companies. »

Fraud under the microscope

CFTC orders James G Brandolino to pay USD1 million penalty to settle CFTC charges of commodity futures fraud

Tue, 28/02/2012 - 17:10

The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against James Giacomo Brandolino, previously of Joliet, Illinois, for conducting a number of fraudulent commodity futures investment schemes and misappropriating customer funds. »

4 days 22 hours from now - Singapore
4 days 22 hours from now - London
1 week 5 days from now - Hong Kong
1 week 6 days from now - Toronto
Mon, 27/03/2017   - London
Mon, 27/03/2017   - London
Mon, 27/03/2017   - London
IKONIC Fund Services Ltd.
Tue, 29/11/2016 - 11:28
Backstop Solutions Group
Tue, 08/11/2016 - 17:44
The Gemini Companies
Mon, 17/10/2016 - 11:51
other gfm publications