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The Chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, has backed the Dodd-Frank Act’s whistleblower reward law, saying that the whistleblower program is an “invaluable component” to the Commission’s “enforcement efforts.”
In a detailed report to Congress issued on the same day, the Commission reported that “the whistleblower program continues to have a significant positive impact on the Commission’s enforcement efforts and protection of investors and markets.”
The SEC confirmed the whistleblower program’s “positive impacts,” including:
• “Whistleblower cases have resulted in over USD2 billion in total monetary sanctions, including more than USD1 billion in
JTC, a provider of fund, corporate and private wealth services to institutional and private clients, has appointed Erika Schraner as an Independent Non-Executive Director.
Schraner brings to the Board a wealth of experience and expertise in professional services, with particular strength in the areas of commercial development, M&A and technology. A dual Swiss-US national, Schraner obtained an MS & BA in Mathematics from EPFL Switzerland before going on to complete a PhD in Management Science & Engineering at Stanford University, USA.
Schraner began her post education executive career with IBM Corp in Silicon Valley and also worked for global
The Association for Digital Asset Markets (ADAM) has published a Code of Conduct (Code) to promote integrity, fairness, and efficiency in digital asset markets.
All ADAM members plan to sign the Code in early 2020 and adhere to its principles, and its release marks a necessary step for the industry to lead the way in setting high standards of conduct. The Code is intended to inform market participants on best practices and to complement, not replace, existing regulation, part of a long-term effort to define and promote ethical conduct by all digital asset market participants.
Established with a collaborative and
Activist hedge fund investors can deliver positive results for companies, according to new research from Columbia Business School’s Professor Wei Jiang, Arthur F Burns Professor of Free and Competitive Enterprise.
Examining the effects of hedge fund interventions specifically on corporate innovation, Jiang reveals that third-party interventions can actually increase the longevity and sustainability of a company’s innovation – particularly with inventors and inventions. Hedge fund activism leads to companies using R&D dollars more efficiently, contradicting commonly held beliefs that hedge fund activism focuses companies on unsustainable short-term goals.
“We can no longer say that third-party activism has a one-size-fits-all result,”
Tassat, a provider of financial technologies and products for traditional and digital asset markets and Blockfills, a specialist in digital asset electronic market making, trading and prime brokerage, are partnering to introduce an institutional Trade at Settlement (TAS) product for spot bitcoin (XBT/USD).
This product, which is expected to be available for trading in mid-December, enables institutions to submit block orders in bitcoin at defined price spreads from the mid-market, at three specific times during each day: 15:00 Hong Kong Time, 15:00 Central European Time (Paris) and 15:30 Central Standard Time (Chicago).
TAS, widely used in derivatives markets for other
IPSX Group (International Property Securities Exchange), which operates a regulated securities exchange dedicated to commercial property, has appointed Peter Wyllie to the role of Director, Capital Markets, reporting into Roger Clarke, Head of Capital Markets.
The IPSX team now comprises 17, following a number of hires over recent months as the management prepares for the next stages of the business’s development and works towards its first IPOs in the first half of next year.
Most recently a partner at the international hedge fund advisory firm, Sussex Partners, Wyllie brings around 35 years of capital markets experience to IPSX.
Asian private equity firm NewQuest Partners has held the final close of its fourth dedicated secondary fund, NewQuest Asia Fund IV with over USD1 billion in total commitments, surpassing its initial target of USD850 million.
The Fund increased its original hard cap of USD950 million to accommodate strong investor demand.
Fund IV investors include a diverse group of endowment funds, pension funds, sovereign funds, insurers, financial institutions and family offices across Asia, North America, Europe and the Middle East. Fund IV’s close comes on the back of NewQuest’s prior fund, NewQuest Asia Fund III, being fully deployed.
The Fund’s close
NextPrime, a provider of operational and capital efficiency to institutional participants in digital asset markets, has partnered with Asia-Pacific financial services group Crown Financial Services (CFS) to bring service banking, custodianship and multi-currency clearing and settlement solutions to the digital asset ecosystem worldwide.
CFS, a provider of money remittance, payment gateway, portfolio management, lending and investment services, already serves a number of exchanges. CFS will serve as a secure custody bank to NextPrime and aim to enable financial institutions and wholesale professional traders to easily trade digital assets at lower costs and less risk.
“Trading digital assets is the
The Anti Money Laundering (AML) service portfolio of Estera Law (Cayman), formerly U Law Limited, will be consolidated into Estera Trust (Cayman) Limited following the business affiliation relationship which was announced last month.
The expansion of AML services further extends Estera’s strategic capability in the Cayman Islands and adds AML compliance officer services, money laundering reporting officer services and deputy money laundering officer services with essential local expertise.
Estera Trust (Cayman) Limited has a dedicated team of professionals who are able to provide specialised AML services with specific knowledge of the Cayman Islands regulatory regime; the consolidation of AML
Ares Management Corporation has appointed Michael Schechter as Partner and Head of Credit Trading.
Based in Los Angeles, Schechter will oversee the trading of all bank loans, high yield and related credit instruments in the US and Europe. In this new position, Schechter will work with Ares’ existing senior trading professionals, portfolio managers and management to set and execute Ares’ trading agenda.
“We are pleased to welcome Michael to Ares in his new position as the leader of our Credit Group’s trading team,” says Kipp deVeer, Partner and Head of the Ares Credit Group. “Michael brings extensive knowledge and deep
