The majority of global alternative firm SkyBridge Capital has been sold to RON Transatlantic EG and HNA Capital. Financial terms of the transaction have not been disclosed but at the end of November SkyBridge managed or advised on USD12 billion. SkyBridge also hosts the
Cargill is to pay a USD10 million penalty to settle CFTC charges that it provided mid-market marks (marks) that concealed its full mark-up on certain swaps from counterparties and its swap data repository (SDR), in violation of the Commodity Exchange
The US Commodity Futures Trading Commission (CFTC) has unanimously approved proposed changes to swap data rules that implement Congressional action to remove indemnification requirements for the use of swap data by other regulators. In a separate proposal, the CFTC voted
The Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against Morgan Stanley and Co Incorporated (Morgan Stanley), for non-compliance with rules governing Part 17 Large Trader reports to the CFTC spanning a ten-year period
Jon S Corzine, former CEO of MF Global, is to pay a USD5 million civil monetary penalty for his role in MF Global’s unlawful use of almost USD1 billion in customer funds and for his failure to diligently supervise the
Law firm Ortoli Rosenstadt (OR Law) has launched as the successor to New York City-based Sanders Ortoli Vaughn-Flam Rosenstadt. “A new name often symbolises a major organisational change, but we prefer to see this not as a change but as
The relationship that broker-dealers and registered investment advisors have with pension investors is set to be turned on its head on 10 April 2017 when the Department of Labor introduces the DOL Fiduciary Rule. In short, what this means is
Global securities firm RBS Securities is to pay a USD35 million penalty relating to the company’s fraudulent trading through its now-defunct US Asset-Backed Securities, Mortgage-Backed Securities and Commercial Mortgage-Backed Securities Trading group. The penalty is part of a non-prosecution agreement
The US Securities and Exchange Commission has announced a 30-month period of ‘temporary relief’ from new European Union investment research rules due to be introduced under MiFID II on 3 January 2018. The move, which comes following consultation with European
New research conducted by UMB Fund Services (UMB) in partnership with FUSE Research Network suggests that interval funds and tender offer funds – collectively referred to as unlisted `closed-end funds’ (CEFs) – are starting to show real momentum and growth
