The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight has issued a time-limited no-action letter that provides swap dealers with relief from certain External Business Conduct Standards rules in the context of prime brokerage arrangements. The
Alternative mutual funds, also referred to as liquid alternatives or hedged mutual funds, are becoming a lot more popular with private fund managers. This has largely been driven by the requirement for hedge fund managers to register as investment advisers
A federal court in Philadelphia has entered a consent order of permanent injunction against defendant Joseph S. Forte of Broomall, Pennsylvania after the US Commodity Futures Trading Commission charged him with fraud and misappropriation in connection with operating a USD50m
The US Commodity Futures Trading Commission (CFTC) has charged Lyndon Lydell Parrilla and his company, Green Tree Capital, both of Woodland Hills, California, with operating a fraudulent multi-million dollar foreign exchange (forex) scheme since at least 2009. The CFTC complaint
The US Commodity Futures Trading Commission (CFTC) has obtained USD615,000 in disgorgement and a civil monetary penalty in a federal court consent order against defendant Kuen Cheol Song, who resided in Singapore during the relevant time period, for engaging in
The US Commodity Futures Trading Commission (CFTC) has charged precious metals firm American Precious Metals, LLC (APM) of Deerfield Beach, Florida, and its founders and principals, Sammy J Goldman of Delray Beach, Florida, and Harry Robert Tanner, Jr.of Lake Worth,
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has completed the Service Organization Controls (SOC1) Type II reports for its hedge fund application hosting and managed cloud services. Following the successful completion
TriOptima will support data verification and portfolio reconciliation of DTCC’s trade repository data as requested by triResolve clients’ for their over-the-counter derivatives portfolios. TriOptima will be the first portfolio reconciliation provider to receive directly DTCC repository data for this
The Securities and Exchange Commission (SEC) has charged Highview Point Partners, a Connecticut-based investment adviser, with engaging in a multi-year Ponzi scheme involving hundreds of millions of dollars. Highview was added as a defendant to a case the SEC previously
The Securities and Exchange Commission has charged the Chicago Board Options Exchange (CBOE) and an affiliate for various systemic breakdowns in their regulatory and compliance functions as a self-regulatory organisation, including a failure to enforce or even fully comprehend rules
