Legal & Regulation

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Commodity pool operator and CEO to pay more than USD10m for misleading statements and supervisory failures

Commodity pool operator and CEO to pay more than USD10m for misleading statements and supervisory failures

The Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Catalyst Capital Advisors, of Huntington, New York, and its CEO, Jerry Szilagyi, for materially misleading statements made by Catalyst and one of its portfolio managers, and for failing to implement an adequate supervisory system to prevent such misstatements. 

Reporting

Missing the mark: CFA hedge fund performance standards

Missing the mark: CFA hedge fund performance standards

By Don A Steinbrugge (pictured), Agecroft Partners – The CFA Institute has released and circulated the final version of its guidelines to improve performance standards in the hedge fund industry. They will go into effect on 1 January, 2020. We strongly support the effort to create and implement performance standards in the industry and believe that the CFA Institute is the right organisation to lead this charge.

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New FCA regime’s failure to include appointed representatives is an oversight, saysSturgeon Ventures

New FCA regime’s failure to include appointed representatives is an oversight, saysSturgeon Ventures

The Senior Managers & Certification Regime that comes into effect today (9 December) is a positive step for the financial services industry – but its failure to include Appointed Representative Firms (ARFs) and their individuals is an oversight, according to Sturgeon Ventures, a regulatory incubator.