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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.  »

Currency cogs

Deutsche Bank expands foreign exchange investor sales team in North America

Thu, 08/08/2013 - 16:01

Gaurang Chadha is to join Deutsche Bank as a managing director within its foreign exchange investor sales team in North America. »

Index

Equity hedge drives HFRI July gains on earnings and M&A

Thu, 08/08/2013 - 14:19

Hedge funds posted gains across equity hedge, event driven and relative value arbitrage strategies in July, as most strategies reversed losses from the prior month on strong earnings, acceleration of M&A activity, moderating concerns of a sharp rise in interest rates and receding macro risks. »

Michael Sanders, chairman of the board at Alceda Fund Management SA

Alceda applies for AIFM licence in Germany and Luxembourg

Thu, 08/08/2013 - 13:30

Alceda has applied for a licence as an Alternative Investment Fund Manager (AIFM) with Alceda Asset Management GmbH in Germany and Alceda Fund Management SA in Luxembourg. »

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. »

Money flows

Hedge fund investors redeemed USD8.6bn in June

Thu, 08/08/2013 - 10:06

Hedge fund flows went negative for the first time this year in June, according to estimates from BraclayHedge and Trim Tabs based on data from 3,369 funds. »

Bill Prew, chief executive of INDOS Financial

INDOS Financial selects BDO for advisory and SOC1 ISAE 3402 assurance services

Thu, 08/08/2013 - 06:03

INDOS Financial, an independent Alternative Investment Fund Managers Directive (AIFMD) depositary business, has selected the accountancy and business advisory firm BDO to provide advisory and SOC1/ISAE 3402 (formerly SAS70) assurance services. »

John Kelly, chief operating officer at Liquidnet

Liquidnet expands CMS to European members

Wed, 07/08/2013 - 16:04

Liquidnet, the global institutional trading network, has expanded its commission management services (CMS) to members in Europe. »

Up arrow

NYSE Euronext global derivatives ADV up 3.2 per cent

Wed, 07/08/2013 - 14:10

NYSE Euronext has reported global derivatives average daily volume (ADV) of 6.4 million contracts, excluding Bclear, in July 2013, an increase of 3.2 per cent compared to July 2012 but a decrease of 27.1 per cent from June 2013. »

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