Andre Flotron, a former precious metals trader for UBS AG, is to pay a USD100,000 civil monetary penalty for spoofing and engaging in a deceptive or manipulative scheme through his spoofing in violation of the Commodity Exchange Act (CEA) and
TerraNua, a provider of investment compliance solutions, has launched a new version of MyComplianceOffice for hedge fund and private equity firms. The new version features the Compliance Program Wizard, a module that allows firms to build their compliance programme
The Alternative Investment Management Association, the London-based hedge fund industry association, has spoken out against calls for a ban on short selling of bank stocks in the wake of t
The Alternative Investment Management Association, the hedge fund industry association, is to respond to the UK’s Financial Services Authority’s consultation on remuneration. The FSA published its consultation paper, Revising the Remuneration Code, following changes to the European Union’s Capital Requirements
The Cayman Islands court has delivered judgment in a high-value dispute concerning the effectiveness of investor side letters and whether restructuring agreements limited an investor’s redemption rights under the fund’s articles. Fintan Master Fund Limited, acting through its nominee, invested
A survey conducted by Kinetic Partners of over 90 senior figures in the asset management, banking and broking industries shows a lack of confidence in future structures for regulating financial services in the UK. Nearly two-thirds (65 per cent) were
A New York federal court has ordered New York trading firm Gelfman Blueprint and its Chief Executive Officer Nicholas Gelfman to pay over USD2.5 million in civil monetary penalties and restitution in what is the first anti-fraud enforcement action involving
The Court of Appeal has handed down its judgment on the appeals made against Justice Briggs’ judgments in an application for directions brought by the joint administrators of Lehman Brothers International (Europe) (in administration). The administrators’ application concerned LBIE’s obligations
The Irish Stock Exchange has introduced a listing regime for a new category of fund, the Super Sophisticated Investor Fund, as well as amending the existing listing regime for closed-ended
Last week Jersey Finance, the Channel Island’s industry promotional agency, reported that 26 Unregulated Funds had been established in the nearly seven months since the introduction of the
