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North America

Letter

CFTC issues no-action letter for CPOs with wholly-owned trading subsidiaries

Tue, 09/09/2014 - 16:00

The US CFTC’s Division of Swap Dealer and Intermediary Oversight (DSIO) has issued a no-action letter for commodity pool operators (CPOs) that are non-registered investment companies that use wholly-owned trading subsidiaries to trade commodity interests. »

Gavel

SEC charges HF manager with bilking investors and portfolio pumping

Tue, 09/09/2014 - 11:05

The Securities and Exchange Commission (SEC) has charged a Minneapolis-based hedge fund manager, his investment advisory firm and an accomplice with bilking investors in two hedge funds out of more than USD1m.  »

Report

AIMA updates due diligence questionnaire for hedge fund managers

Wed, 03/09/2014 - 11:45

The Alternative Investment Management Association (AIMA), the global hedge fund industry body, has published an updated edition of its flagship due diligence questionnaire (DDQ), the AIMA DDQ for Hedge Fund Managers. »

UK flag

CFTC issues rule for deposit of customer funds with UK depositaries

Mon, 01/09/2014 - 06:02

The US Commodity Futures Trading Commission (CFTC) has issued an interpretation of Commission Regulation 30.7(c) under the Commodity Exchange Act.  »

Regulation

SEC adopts asset-backed securities reform rules

Thu, 28/08/2014 - 14:33

The SEC has adopted revisions to rules governing the disclosure, reporting, and offering process for asset-backed securities (ABS) to enhance transparency, better protect investors and facilitate capital formation. »

Credit rating agencies

SEC adopts credit rating agency reform rules

Thu, 28/08/2014 - 12:00

The Securities and Exchange Commission (SEC) has adopted new requirements for credit rating agencies to enhance governance, protect against conflicts of interest and increase transparency.  »

Gavel and scales

CFTC fines Merrill Lynch USD1.2m for supervision failure

Thu, 28/08/2014 - 06:01

The US Commodity Futures Trading Commission (CFTC) has issued an order filing and settling charges against Merrill Lynch for supervision failures relating to futures exchange and clearing fees. »

Electronic trading floor

CFTC issues no-action relief on confirmations of uncleared swap transactions

Wed, 20/08/2014 - 13:33

The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter providing swap execution facilities (SEFs) time-limited, conditional relief from certain data reporting and record-keeping requirements in relation to confirmations required for uncleared swap transactions. »

Regulation

CFTC issues no-action letter for Clearing Corporation of India Ltd

Wed, 20/08/2014 - 12:15

The US Commodity Futures Trading Commission (CFTC) has issued a time-limited no-action letter it will not take enforcement action against Clearing Corporation of India Ltd (CCIL) for failing to register as a derivatives clearing organisation (DCO). »

Regulation

SEC report details use of Form PF data

Tue, 19/08/2014 - 13:49

The SEC’s second annual staff report on the use of data collected from private fund systemic risk summarises how the data received from Form PF filers is used to protect investors and the integrity of the markets. »

Letter

CFTC issues no-action letter for Chicago Mercantile Exchange

Tue, 19/08/2014 - 12:00

The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter stating that it will not take enforcement action against the clearing house of the Chicago Mercantile Exchange. »

Barred sign

NFA revokes registration of floor trader Joel W Himel

Wed, 13/08/2014 - 11:20

The National Futures Association (NFA) has revoked the registration of Joel W Himel of Vernon Hills, Illinois, a floor trader at the Chicago Board of Trade (CBOT). »

Fraud

Bahamas brokerage firm charged over fraudulent hedge fund scheme

Tue, 12/08/2014 - 06:15

The Securities and Exchange Commission (SEC) has charged a Bahamas-based brokerage firm and its president for enabling a fraud that was halted when the SEC charged the hedge fund manager at the centre of the scheme. »

Oil

Crude oil traders hit with USD13m CFTC fine

Wed, 06/08/2014 - 06:00

The US CFTC has obtained a USD13 million civil monetary penalty against defendants Parnon Energy, Arcadia Petroleum, Arcadia Energy and crude oil traders James T Dyer and Nicholas J Wildgoose. »

Fraud

Ex-Citigroup director ordered to pay USD500,000 to settle CFTC fraud charges

Tue, 05/08/2014 - 11:44

A US District Court judge has ordered former Citigroup director John Aaron Brooks to pay a civil penalty of USD500,000 to settle CFTC charges that he defrauding Citigroup by mismarking and inflating the value of his position in ethanol futures in the company’s proprietary account.  »

Globe

Highland Capital Management now compliant with Global Investment Performance Standards

Fri, 01/08/2014 - 14:00

Dallas-based investment management firm Highland Capital Management is now compliant with the Global Investment Performance Standards (GIPS) and has been independently verified for the period of 1 January 2009 to 31 December 2013. »

Gavel and scales

NFA takes emergency enforcement action against Connecticut firm Nord Capital Advisors

Fri, 01/08/2014 - 13:10

National Futures Association (NFA) has taken an emergency enforcement action against commodity trading advisor and commodity pool operator Nord Capital Advisors and company principal Yakov Shlyapochnik. »

Approved stamp

Capita Financial Managers to offer US hedge fund AIFM service

Thu, 31/07/2014 - 10:03

Capita Financial Managers (Ireland) Limited has been granted an alternative investment fund manager (AIFM) licence by the Central Bank of Ireland. »

US flag

Six things to watch for in wake of new US money fund rules

Wed, 30/07/2014 - 10:35

Moody’s outlines six things to watch for in the wake of new US money fund rules… »

Law books and gavel

CFTC fines JP Morgan Securities USD650,000 over inaccurate large trader reports

Wed, 30/07/2014 - 10:07

The US Commodity Futures Trading Commission (CFTC) has filed and settled charges against JP Morgan Securities (JPMS), a futures commission merchant (FCM), for submitting inaccurate reports relating to the positions held by large traders whose accounts are carried by JPMS.  »

Dark pool

SEC rules ‘supporting’ dark pools, says CMCRC

Tue, 29/07/2014 - 16:00

SEC trading rules may be providing dark venues a regulatory advantage over traditional stock exchanges, according to research by The Capital Markets Cooperative Research Centre (CMCRC). »

Gavel and scales

CFTC charges Lloyds over LIBOR manipulation

Tue, 29/07/2014 - 10:08

The US CFTC has issued an order against Lloyds Banking Group and Lloyds Bank, bringing and settling charges for acts of false reporting and attempted manipulation of the London Interbank Offered Rate (LIBOR) for Sterling, US Dollar and Yen. »

Gavel and law books

Former Harbinger COO to settle SEC charges

Tue, 29/07/2014 - 07:56

The former chief operating officer (COO) at Harbinger Capital Partners is to settle SEC charges that he assisted a scheme by the firm and its owner Philip A Falcone to misappropriate millions of dollars from a hedge fund they managed. »

Gavel

Citigroup ATS business unit charged over confidential subscriber data failings

Mon, 28/07/2014 - 14:05

The Securities and Exchange Commission (SEC) has charged a Citigroup business unit operating an alternative trading system (ATS) with failing to protect the confidential trading data of its subscribers. »

Eric T Schneiderman

Barclays mounts robust defence against dark pool allegations

Mon, 28/07/2014 - 06:30

Barclays has firmly rebutted the claims made against it by Eric T Schneiderman (pictured), the New York Attorney General, over the operation of its dark pool with a robust defence of its practices. »

Regulation

SEC adopts MMF reform rules

Thu, 24/07/2014 - 16:01

The Securities and Exchange Commission has adopted amendments to the rules that govern money market mutual funds (MMFs), making structural and operational reforms to address investor risk while preserving the benefits of the funds. »

Clock

CFTC issues no-action relief from electronic reporting requirements in OCR Final Rule

Thu, 24/07/2014 - 12:00

The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter that provides additional time for reporting parties to comply with certain reporting requirements of the ownership and control final rule (OCR Final Rule). »

James Williams, Hedgeweek

SEI: An eyes wide open approach to launching a ’40 Act Fund

Mon, 07/04/2014 - 11:45

Alternative mutual funds, also referred to as liquid alternatives or hedged mutual funds, are becoming a lot more popular with private fund managers. This has largely been driven by the requirement for hedge fund managers to register as investment advisers with the SEC. Prior to this, unregistered managers were not allowed to manage assets on behalf of US mutual funds. Now they can.  »

Trading screens

Credit Suisse’s AES joins REDI’s multi-broker EMS platform

Tue, 14/01/2014 - 14:40

Credit Suisse’s Advanced Execution Services (AES) has joined REDI Global Technologies’ broker-neutral platform – the REDIPlus Execution Management System (EMS). »

Approved stamp

CFTC grants CME temporary SEF registration

Tue, 05/11/2013 - 16:00

The US Commodity Futures Trading Commission (CFTC) has approved the application of Chicago Mercantile Exchange (CME) for temporary registration as a swap execution facility (SEF).  »

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