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North America

Cynthia Hetherington, president of the Hetherington Group

Fraudulent hedge funds pose greater threat in 2013, says Hetherington

Fri, 08/02/2013 - 12:07

Thanks to the recent JOBS Act (Jumpstart Our Business Startups Act), signed by President Obama last year, the Securities and Exchange Commission (SEC) has lifted advertising restrictions for hedge funds and other kinds of private investment offerings as of 2013, allowing for direct solicitation to individual investors.     »

Barred sign

NFA takes emergency enforcement action against Prodigy Asset Management

Fri, 01/02/2013 - 16:01

The National Futures Association (NFA) has taken an emergency enforcement action against Prodigy Asset Management (PAM), a commodity pool operator (CPO) and commodity trading advisor (CTA) located in New York City, and its principal Ezekiel Abdel Rahman. »

Report

National Futures Association adopts recommendations from analysis of Peregrine Financial Group audits

Fri, 01/02/2013 - 11:53

The National Futures Association’s board of directors has voted to accept the recommendations made by Berkeley Research Group (BRG) as part of its independent analysis of NFA's audits of Peregrine Financial Group. »

Fraud

SEC charges former Jefferies exec with defrauding investors in mortgage-backed securities

Tue, 29/01/2013 - 12:11

The Securities and Exchange Commission has charged a former executive at New York-based broker-dealer Jefferies & Co with defrauding investors while selling mortgage-backed securities (MBS) in the wake of the financial crisis so he could generate additional revenue for his firm. »

Document

CFTC grants order to Ice Clear Credit permitting portfolio margining of swaps

Tue, 15/01/2013 - 14:13

The Commodity Futures Trading Commission has issued an order granting a request made by Ice Clear Credit (ICC), a Commission-registered derivatives clearing organisation, permitting portfolio margining of swaps and security-based swaps in a cleared swaps customer account. »

Handcuffs and money

Investment adviser Martel to pay over USD7.2m for fictitious investment products

Mon, 14/01/2013 - 10:03

The Securities and Exchange Commission has obtained a final judgment by default against investment adviser Gary J Martel, a resident of Chelsea, Massachusetts, in a case originally filed by the SEC in June 2012. »

Law books and gavel

New York-based hedge fund manager and firm fined USD5m

Fri, 11/01/2013 - 10:08

The Securities and Exchange Commission has secured final judgments against hedge fund manager Chetan Kapur and his firm, ThinkStrategy Capital Management, ordering them to jointly and severally pay disgorgement and prejudgment interest of USD3,988,196.59 and civil penalties in the amount of USD1m. »

Handcuffs and money

SEC staff preview top hedge fund enforcement trends for 2013

Mon, 07/01/2013 - 06:18

In a recent speech before the Regulatory Compliance Association, Bruce Karpati, chief of the Securities and Exchange Commission’s enforcement division’s asset management unit, suggested where the SEC may be heading regarding hedge fund oversight in the months to come. »

Gavel and scales

SEC charges Santa Monica-based hedge fund manager over ‘cherry-picking’ scheme

Wed, 02/01/2013 - 09:31

The Securities and Exchange Commission has charged a Santa Monica-based hedge fund manager and his investment advisory firm with conducting a "cherry-picking" scheme by steering winning trades to their own trading accounts and favoured clients to the detriment of certain hedge fund investors. »

Approved stamp

CFTC approves exemptive order on cross-border application of swaps provisions of Dodd-Frank

Mon, 24/12/2012 - 10:18

The Commodity Futures Trading Commission has approved an exemptive order providing time-limited relief from certain cross-border applications of the swaps provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Commission’s regulations. »

Magnifying glass

CFTC releases rule enforcement review of ICE Futures US

Wed, 19/12/2012 - 16:14

The Commodity Futures Trading Commission has notified ICE Futures US of the results of a rule enforcement review completed by the commission’s division of market oversight.  »

Gavel and scales

SEC charges Connecticut-based adviser with CDO misstatements

Wed, 19/12/2012 - 14:04

The Securities and Exchange Commission (SEC) has charged a Connecticut-based investment adviser with falsely stating to clients that it was co-investing alongside them in two collateralised debt obligations (CDO). »

Trading screens

DTCC looks to reduce risk in processing of money market instruments

Thu, 13/12/2012 - 12:02

The Depository Trust & Clearing Corporation (DTCC) is proposing changes to its settlement processing for money market instruments (MMIs) to boost efficiencies, improve intraday settlement finality and further reduce credit and liquidity risk in the MMI market. »

Grade A

Advise offers tips for hedge funds preparing for first SEC exam

Thu, 13/12/2012 - 11:37

Advise Technologies, a software solutions provider for global regulatory compliance, has released a list of top tips for private funds preparing for their first SEC examination. »

Barred

NFA permanently bars Strategic Trading Associates

Fri, 07/12/2012 - 11:56

The National Futures Association (NFA) has permanently barred Strategic Trading Associates, a New York-based commodity trading adviser, and temporarily barred Francis Littleton, a principal and associated person of the firm. »

Prison bars

Former Fair Finance CEO gets 50 years for USD200m fraud

Wed, 05/12/2012 - 06:01

Timothy S Durham, former chief executive of Ohio-based Fair Finance, has been sentenced to 50 years in prison for orchestrating a USD200m scheme that defrauded more than 5,000 investors over almost five years. »

Regulation

CFTC grants relief for bespoke or complex swaps

Mon, 03/12/2012 - 11:45

The Commodity Futures Trading Commission’s division of market oversight (DMO) has issued a time-limited no-action letter granting relief for bespoke or complex swaps from certain reporting obligations under Part 43 and Part 45 of the Commission’s regulations. »

Traders

SAC case dubbed 'most lucrative insider trading scheme ever charged'

Mon, 03/12/2012 - 06:12

Federal investigators continue to tighten ranks around hedge fund manager Steven Cohen, arresting one of his former portfolio managers in what the US Attorney for New York has called “the most lucrative insider trading scheme ever charged.” »

Fraud

Jury returns verdict of liability against EagleEye Asset Management

Fri, 30/11/2012 - 16:10

A federal court jury in Boston, Massachusetts returned a verdict of securities fraud liability against registered investment adviser EagleEye Asset Management and its sole principal, Jeffrey A Liskov, both of Plymouth, MA, in connection their fraudulent conduct toward advisory clients. »

Ponzi scheme

CFTC charges Feisal Sharif over USD5.4m commodity pool Ponzi scheme

Fri, 30/11/2012 - 14:34

The US Commodity Futures Trading Commission has filed a civil enforcement action charging defendant Feisal Sharif of Branford, Connecticut with operating a commodity pool Ponzi scheme that solicited approximately USD5.4m from at least 50 people to invest in a commodity pool named First Financial. »

Letter

CFTC grants relief from required clearing for swaps by certain cooperatives

Thu, 29/11/2012 - 11:56

The Commodity Futures Trading Commission’s division of clearing and risk (DCR) has issued a time-limited, no-action letter granting relief from required clearing for certain swaps entered into by qualifying cooperatives. »

Frozen assets

Court orders asset freeze in SEC action against hedge fund adviser

Tue, 27/11/2012 - 14:14

The Honourable Paul G Gardephe has entered consent judgments in the SEC’s case against Berton M Hochfeld and Hochfeld Capital Management, ordering injunctions, asset freezes, the appointment of a receiver, and other preliminary relief. »

Ponzi scheme

CFTC charges Michael Jenkins and Harbor Light Asset Management over Ponzi scheme

Mon, 26/11/2012 - 10:06

The US Commodity Futures Trading Commission has charged Michael Anthony Jenkins of Raleigh, North Carolina, and his company, Harbor Light Asset Management (HLAM), with operating a Ponzi scheme for the purpose of trading E-mini S&P 500 futures contracts.  »

Gavel

Cantor Fitzgerald fined USD700,000 for allowing customer funds to become under-segregated

Thu, 22/11/2012 - 10:02

The US Commodity Futures Trading Commission has filed and simultaneously settled charges against Cantor Fitzgerald of New York, a registered futures commission merchant, for failing to maintain sufficient funds in its customer segregation account for a period of three days, for failing to provide the CFTC timely notice of its under-segregation and for related supervisory failures.    »

Globe and clock

CFTC addresses timeline for compliance with swap data reporting rules

Wed, 21/11/2012 - 11:56

The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight and division of market oversight have issued a letter providing swap dealers with time-limited no-action relief from certain requirements of the CFTC’s swap data reporting rules. »

Law books and gavel

SEC charges JP Morgan Securities with misleading investors in RMBS offerings

Mon, 19/11/2012 - 10:02

The Securities and Exchange Commission has charged JP Morgan Securities and affiliated entities with misleading investors in offerings of residential mortgage-backed securities (RMBS). »

Magnifying glass

FINRA increases transparency in TBA market for agency pass-through mortgage-backed securities

Wed, 14/11/2012 - 11:53

The Financial Industry Regulatory Authority (FINRA) has increased transparency in the so-called “To-Be-Announced” (TBA) market for agency pass-through mortgage-backed securities. »

Computer screen

Linedata Mshare offers head start with FATCA and SWIFT MX compliance

Wed, 14/11/2012 - 10:00

Linedata, a solutions provider dedicated to the investment management and credit industries, has launched a new version of Linedata Mshare investor accounting and administration solution. »

Ponzi scheme

SEC charges South Florida man with recruiting victims of Ponzi scheme

Tue, 13/11/2012 - 06:27

The Securities and Exchange Commission (SEC) has charged a South Florida man with defrauding at least 14 investors by soliciting them to invest in a Ponzi scheme. »

Magnifying glass

SEC charges hedge fund manager with hiding losses from RMBS investments

Mon, 12/11/2012 - 13:53

The Securities and Exchange Commission has charged a hedge fund manager in Baton Rouge with defrauding investors by hiding millions of dollars in losses suffered during the financial crisis from investments tied to residential mortgage-backed securities (RMBS). »

features
Special report
Guide to ETFs for Asset & Wealth Managers

This etfexpress Guide to ETFs, produced specifically for wealth and asset managers, unravels the myriad benefits of including and using ETFs and ETPs within client portfolios... »

Article
Giles Travers, SEI

The business of asset management has grown exponentially more complex over the last decade. As system technology and data management improves, managers are devising ever-new investment strategies to find that elusive source of alpha.  ... »

Article
Richard Ansyet, Intralinks

Over the last 10 years, organisations have undergone a wholesale change in the way they run their businesses. Thanks to cloud-based platforms, wireless Internet, and the proliferation of desktop and mobile device applications, the perimeter of most businesses has moved beyond the four walls of their office. This has revolutionised the way people work: no longer tied to their desks they can be equally as effective aboard an aircraft or sitting next to the beach on vacation.  ... »

Article
Preqin Special Report: Hedge Fund Manager Outlook – Augst 2015

In this excerpt from Preqin Special Report: Hedge Fund Manager Outlook, we take a closer look at the level of competition in the industry today and use our latest survey results to reveal fund manager predictions for asset growth for the rest of 2015. ... »

Article
survey

The Preqin Special Report: Private Debt Fund Manager Outlook features exclusive survey results drawn from over 100 private debt fund managers worldwide. This extract discusses what fund managers have highlighted as the biggest issues facing the industry and their views on regulation. ... »

Special report
Cybersecurty for Hedge Funds

Cybersecurity for Hedge Funds

Thu, 30/07/2015 - 11:00

Cybersecurity is no longer simply an IT issue, it is now a business issue. This is the conclusion of the experts and fund managers around the world whose opinions were polled for this landmark Hedgeweek Special Report, which outlines Best Practices for Cybersecurity in a fast-changing environment where managers need to keep several steps ahead of cyber criminals... »

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