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Stop sign

SEC halts fraud by Ohio-based hedge fund manager

Thu, 15/08/2013 - 12:00

The Securities and Exchange Commission has filed an emergency action charging Anthony J Davian and his Richfield, Ohio-based asset management firm with defrauding investors in hedge funds they manage. »

Announcement

CFTC adopts harmonisation rules for registered investment companies

Wed, 14/08/2013 - 10:04

The Commodity Futures Trading Commission (CFTC) has issued a final rule with respect to certain compliance obligations for commodity pool operators (CPOs) of investment companies registered under the Investment Company Act of 1940 that are required to register due to the recent changes to Commission Regulation 4.5. »

Announcement

Monitor composition of indices when offering futures products, says SEC

Tue, 13/08/2013 - 16:03

The Securities and Exchange Commission has cautioned exchanges and investment professionals to monitor the composition of indices used in offering financial instruments to determine if they are security futures products and ensure they are complying with the federal securities laws.  »

Regulation

CFTC issues final rules for enhanced risk management standards for SIDCOs

Tue, 13/08/2013 - 14:00

The Commodity Futures Trading Commission (CFTC) has approved final rules to implement enhanced risk management standards for systemically important derivatives clearing organisations (SIDCO). »

Law books and gavel

UBS to pay USD50m to settle SEC charges of misleading CDO investors

Thu, 08/08/2013 - 16:33

UBS has agreed to pay nearly USD50m to settle SEC charges that it violated securities laws while structuring and marketing a collateralised debt obligation (CDO) by failing to disclose that it retained millions of dollars in upfront cash it received in the course of acquiring collateral for the CDO.  »

Magnifying glass

DTCC identifies greater systemic risk complexities to financial markets

Thu, 08/08/2013 - 12:16

The Depository Trust & Clearing Corporation (DTCC) has identified a number of emerging trends that could potentially impact the industry’s ability to protect against new and unidentified threats to the financial system. »

US Army helmet

SEC halts ex-Marine’s hedge fund fraud targeting fellow military

Thu, 08/08/2013 - 11:09

The Securities and Exchange Commission has obtained an emergency court order to halt a hedge fund investment scheme by a former Marine living in the Chicago area who has been masquerading as a successful trader to defraud fellow veterans, current military, and other investors. »

Electronic trading floor

CFTC issues amendment regarding large notional off-facility swaps

Wed, 07/08/2013 - 10:04

The Commodity Futures Trading Commission’s (CFTC) division of market oversight has issued an amendment to CFTC No-Action Letter No 13-48, which grants relief from the aggregation prohibition for certain commodity trading advisors (CTAs) and investment advisors (IAs) with respect to large notional off-facility swaps.  »

Mary Jo White, chair of the SEC

SEC rules to increase protections for investors’ assets held by broker-dealers

Mon, 05/08/2013 - 14:33

The Securities and Exchange Commission has adopted rules designed to substantially increase protections for investors who turn their money and securities over to broker-dealers registered with the SEC.  »

Traders

CFTC releases rule enforcement review of Chicago Mercantile Exchange and Chicago Board of Trade

Mon, 05/08/2013 - 10:06

The Commodity Futures Trading Commission has notified the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) of the results of a rule enforcement review completed by the Commission’s division of market oversight. »

Trader at screen

Mandatory clearing of iTraxx CDS indices for Category 2 entities has begun, says CFTC

Fri, 26/07/2013 - 10:01

The second phase of required clearing for certain iTraxx credit default swap (CDS) indices for Category 2 entities has begun, according to a statement issued by the division of clearing and risk of the Commodity Futures Trading Commission.   »

Gavel

Hedge funds ordered to pay private equity firm TPG more than USD500,000

Thu, 25/07/2013 - 12:00

TPG, one of the world’s largest private equity firms, has been awarded over USD500,000 in sanctions against three hedge funds who had been pursuing unsuccessful involuntary bankruptcy petitions against two former TPG related companies. »

Gavel

FERC orders USD453m penalties for power market manipulation

Fri, 19/07/2013 - 06:04

The Federal Energy Regulatory Commission (FERC) has ordered Barclays Bank PLC and four of its traders to pay USD453m in civil penalties for manipulating electric energy prices in California and other western markets between November 2006 and December 2008. »

Gavel and scales

SEC obtains USD13.9m penalty against Rajat Gupta

Thu, 18/07/2013 - 14:44

The Securities and Exchange Commission has obtained a USD13.9m penalty against former Goldman Sachs board member Rajat K. Gupta for illegally tipping corporate secrets to former hedge fund manager Raj Rajaratnam. »

Rick McVey, chief executive of MarketAxess

MarketAxess files swap execution facility application with CFTC

Tue, 16/07/2013 - 10:15

MarketAxess Holdings has filed an application on to become a swap execution facility (SEF) under the Commodity Futures Trading Commission’s (CFTC) Dodd-Frank Act.  »

Regulation

HFA applauds SEC for lifting ban on hedge fund advertising

Fri, 12/07/2013 - 14:31

The Securities and Exchange Commission (SEC) has now adopted final rules in connection with the Jumpstart Our Business Startups (JOBS) Act, lifting an 80 year old ban on general solicitation and allowing hedge fund managers to advertise. »

Marketing

JOBS ACT should prompt hedge funds to review marketing strategy, says Agecroft

Wed, 10/07/2013 - 10:03

The hedge fund industry is the most competitive industry in the world, where portfolio managers are constantly struggling to identify inefficiencies in the capital markets and quickly take advantage of them before their competitors. »

Approved stamp

ICE Trade Vault gets CFTC approval to remove foreign exchange asset class

Wed, 03/07/2013 - 11:12

The US Commodity Futures Trading Commission (CFTC) has approved an order for ICE Trade Vault, a provisionally registered swap data repository, to drop its foreign exchange asset class. »

Form

BNY Mellon launches Form PF reporting solution

Fri, 28/06/2013 - 16:00

BNY Mellon has developed a reporting solution that enables its affected alternative investment clients to prepare and file Form PF, as required by recent rules introduced by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). »

Fraud

Hedge fund manager Shepherd pleads guilty to fraud

Tue, 18/06/2013 - 16:00

North Carolina hedge fund manager James Alexander Shepherd has agreed to plead guilty to charges that he defrauded investors of approximately USD6m.  »

Gavel and scales

SEC charges CBOE for regulatory failures

Wed, 12/06/2013 - 10:05

The Securities and Exchange Commission has charged the Chicago Board Options Exchange (CBOE) and an affiliate for various systemic breakdowns in their regulatory and compliance functions as a self-regulatory organisation, including a failure to enforce or even fully comprehend rules to prevent abusive short selling. »

Stewart Macbeth, president and CEO of DTCC’s Deriv/SERV subsidiary

TriOptima will assist in verifying and reconciling OTC derivatives data submitted to DTCC

Fri, 07/06/2013 - 06:00

TriOptima will support data verification and portfolio reconciliation of DTCC’s trade repository data as requested by triResolve clients’ for their over-the-counter derivatives portfolios. »

Completed stamp

Abacus Group completes SOC1 Type I & II Reports

Thu, 06/06/2013 - 14:15

Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has completed the Service Organization Controls (SOC1) Type II reports for its hedge fund application hosting and managed cloud services. »

Money and calculator

Significant impact on buy-side portfolio returns due to post Dodd-Frank costs of clearing

Wed, 05/06/2013 - 10:06

Research by Sapient Global Markets into how new central clearing mandates will impact investment performance for buy-side firms has revealed a significant drag on portfolio returns in the new regulatory environment. »

Fraud

SEC suspends trading of 61 companies ripe for fraud in OTC market

Tue, 04/06/2013 - 12:01

The Securities and Exchange Commission is carrying out the second-largest trading suspension in agency history as it continues its "Operation Shell Expel" crackdown against the manipulation of microcap shell companies that are ripe for fraud as they lay dormant in the over-the-counter market. »

Tick

Charles Griffin Intelligence launches accredited investor verification service

Wed, 15/05/2013 - 10:04

As hedge funds anticipate the finalisation of a JOBS Act provision that will lift advertising restrictions on hedge funds, they are faced with the new challenge of installing more robust investor due diligence procedures. »

Computer screen

Northern Trust Hedge Fund Services streamlines Form PF filing process

Tue, 14/05/2013 - 09:05

Northern Trust Hedge Fund Services has launched an online regulatory module to streamline the preparation and submission of Form PF filings. »

Don Steinbrugge, Agecroft Partners

JOBS ACT to benefit investors, says Agecroft’s Don Steinbrugge

Thu, 02/05/2013 - 16:01

Mary Jo White, who became chairman of the US Securities and Exchange Commission on 10 April, is pushing to adopt the JOBS ACT without major changes and potentially adding additional investor protections at a later date.  »

Gavel

Level Global to pay more than USD21.5m to settle SEC insider trading charges

Wed, 01/05/2013 - 16:00

Connecticut-based hedge fund advisory firm Level Global Investors has agreed to pay more than USD21.5m to settle Securities and Exchange Commission (SEC) charges that its co-founder, who also served as a portfolio manager, and its analyst engaged in repeated insider trading in the securities of Dell and Nvidia. »

Letter

CFTC issues no-action letter for swap dealers on prime brokerage arrangements

Wed, 01/05/2013 - 12:00

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight has issued a time-limited no-action letter that provides swap dealers with relief from certain External Business Conduct Standards rules in the context of prime brokerage arrangements. »

features
Special report
Hedge Fund Technology 2015

Hedge Fund Technology 2015

Tue, 19/05/2015 - 11:00

This keynote Hedgeweek Special Report surveys the key technology products and software solutions available to hedge funds,, and drills down into each one through interviews and analysis to summarise their benefits to COOs, CTOs and CFOs at hedge funds... »

Article
Survey

Voting for the 5th edition of the Hedgeweek USA Awards, which recognise excellence among hedge fund managers and service providers around the world, is now open. ... »

Article
Locked door

Cybersecurity issues have existed as long as the internet. What seems to have changed in the last 18 months is not only that the nature of the breaches has become more sophisticated, but also the fact that hedge funds have become a much bigger target.  ... »

Special report
Commodities 2015: The outlook for investors

Investing in commodities can yield handsome returns, but investors need to focus sharply on timing and diversify their portfolios away from traditional safe havens and into sectors such as agriculturals and products such as ETFs. As one expert reveals in this special report, "Gold is not the only yellow commodity one should have in their portfolio"... »

Special report
Hedgeweek Global Awards 2015 – The Winners

Read the complete list of Winners and profiles at the sixth edition of the Hedgeweek Awards, presented in London's Mayfair and sponsored by Morgan Stanley, which brought together the leading names in the global hedge funds industry to celebrate the achievements of the best performing managers and service providers in 2014... »

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