Legal & Regulation

Lombard Risk Management has addressed Title VII of the Dodd-Frank Act with its Dodd-Frank Act Engine solution. »

The Securities and Exchange Commission has charged a hedge fund manager and his Menlo Park, California-based firm for their involvement in the insider trading ring connected to Raj Rajaratnam and hedge fund advisory firm Galleon Management. »

Dechert has released the following update regarding the US Treasury Department’s recent proposed regulations and announcement relating to FATCA… »

Pursuant to the Market Abuse (Directive 2003/6/EC) Regulations 2005 (the “Market Abuse Regulations”), since 1 July 2005 the Central Bank of Ireland has delegated market monitoring and investigation tasks to the ISE. These delegation arrangements ended on 31 January 2012 and the Central Bank is now carrying out all monitoring and investigation functions formerly carried out by the ISE, in addition to its own monitoring and investigation functions under the Market Abuse Regulations. »

The UK Court of Appeal has today handed down judgment in a case which considers the circumstances in which an individual who enters into a members' agreement in a limited liability partnership may be considered to be an employee. Jonathan Exten-Wright, employment partner, DLA Piper explains… »

The decision by the FSA to fine David Einhorn and his firm, Greenlight Capital, GBP7.2 million demonstrates the FSA’s commitment to stamping out market abuse, says Gregory Brandma »

The Financial Services Authority (FSA) has fined David Einhorn (pictured), owner of the prominent US hedge fund Greenlight Capital Inc (Greenlight), and his fund GBP7.2 million for engaging in market abuse in relation to an anticipated significant equity fundraising by Punch Taverns Plc (Punch) in June 2009. »

Diamondback Capital Management LLC has agreed to pay more than USD9 million to settle insider-trading charges brought by the SEC on 18 January. The proposed settlement is subject to the approval of Judge Paul G Gardephe of the US District Court for the Southern District of New York. »

D Harris + Company’s eight-strong hedge fund team has joined law firm Macfarlanes. Daniel Harris, who founded the boutique hedge fund law firm eight years ago, is also joining Macfarlanes as a consultant. »

As part of an initiative to combat hedge fund fraud by identifying abnormal investment performance, the Securities and Exchange Commission has announced enforcement actions against three separate advisory firms and six individuals for various misconduct including improper use of fund assets, fraudulent valuations, and misrepresenting fund returns. »