US Legal & Regulation

Gavel and scales

SEC charges CBOE for regulatory failures

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

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

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

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

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

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

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

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

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

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. »


Upcoming events

Upcoming training

Mon, 12/05/2014 (All day) - Dubai
Tue, 13/05/2014 (All day) - Dubai