Gavel and scales

CFTC settles action over forex scheme against Douglas Elsworth Wilson

A federal court in California has entered a consent order that requires defendants Douglas Elsworth Wilson of Poway, California, and three companies he controls and manages, Elsworth Berg Capital Management (EBCM), Elsworth Berg Inc, and Elsworth Berg FX jointly and severally to pay USD3,965,670.71 in restitution to customers as well as a USD1.5m civil monetary penalty. »


Financial results

RECI profit drops to GBP0.7m in the quarter to June 2012; NAV up 8.2% in four months to July 2012

Real Estate Credit Investments (RECI) made a profit of GBP0.7m in the quarter ended 30 June 2012, compared with GBP4.5m in the previous quarter, according to the company’s latest interim management statement. »


Trader

Hedge funds make gains in July, says SS&C GlobeOp

Hedge funds continued to make gains in July with the SS&C GlobeOp Performance Index up 1.42 per cent for the month. »


Simon Hopkins, chief executive of Milltrust International Group

Milltrust International selects InfraHedge to launch Emerging Market Managed Accounts platform

InfraHedge, a managed account infrastructure platform and a subsidiary of State Street, has been chosen by Milltrust International Group for the launch of its Emerging Markets Managed Accounts (EMMA plc) platform, a dedicated emerging markets fund management platform housed within a single custodian relationship. »


Fraud

CFTC charges Michael Bruce Gale with commodity pool fraud

The US Commodity Futures Trading Commission has filed a civil anti-fraud enforcement action against Michael Bruce Gale, individually and doing business as Capital Management Group (CMG). »


Trading screens

Secondary trading to grow 125 per cent to USD146bn

The secondary market, where investors historically went to trade their illiquid holdings in hedge funds, private equity and other alternative investments, is increasingly a source of liquidity in normal times and not just an escape hatch for investors in duress, according to a recent survey of more than 489 institutional investors managing gross assets of USD417bn. »


Jon Fowler, global head of the funds group at Maples and Calder

New lawyers join Maples and Calder's funds team

Maples and Calder has appointed four new associates to the firm’s growing funds team in its Cayman Islands office and a new partner to the British Virgin Islands office. »


Three

HFR launches three new HFRX Indices

HFR has expanded its family of HFRX Indices to 76 with the launch of three new indices. »


Philipp Poelzl, co-founder of Qbasis Fund Management

Qbasis Fund Management lists on AlphaMetrix

Qbasis Fund Management (QFM) has listed its Qbasis Futures Fund as a TransparentFund on AlphaMetrix. »


Olivier Sarkozy, Carlyle managing director and head of the financial services team

Carlyle and TCW management acquire TCW Group from Société Générale

Alternative asset manager The Carlyle Group and the management of The TCW Group, an asset management firm, are to acquire TCW from Société Générale. »


Upcoming events

Upcoming training

Mon, 10/11/2014 (All day) - London
Mon, 10/11/2014 (All day) - London
Thu, 13/11/2014 (All day) - London