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The Commodity Futures Trading Commission (CFTC) has made an award of approximately USD2 million to two model whistleblowers who provided the agency with significant information that prompted the CFTC to open an investigation.
The CFTC found numerous violations of the Commodity Exchange Act (CEA) that were directly based on information from the whistleblowers. The multiple interviews and numerous documents the whistleblowers provided were highly informative and formed the basis of the CFTC’s investigation. The whistleblowers also reported the same information to another organisation, which conducted a separate investigation and shared its findings with the CFTC. Those findings significantly assisted the
Lendingblock, a regulated, open exchange for institutional borrowing and lending of digital assets, has partnered with Caspian, the institutional crypto trading platform.
This partnership enables essential market infrastructure for borrowing and lending digital assets to be scaled to institutions globally.
The integration between Lendingblock and Caspian will offer institutional investors that use Caspian’s order-execution management system across both digital assets and traditional capital markets the opportunity to access cryptocurrency lending markets for additional yield-enhancing opportunities. Banks, market makers, hedge funds, asset managers and trading firms can now facilitate lending and borrowing across multiple digital assets for arbitrage, short selling, working
To gain an advantage in today’s hyper-competitive world, asset managers must not only evolve their operations, but they must also discover new ways to leverage them. Managers must be operationally adept; particularly in a business that grows more costly and complex, they need an infrastructure that will equip them to better meet client needs, satisfy regulators and compete more effectively.
Jersey Finance has appointed Philip A Pirecki as its business development lead in the US, ahead of the opening of a new representative office in New York later this year.
In his new role, Pirecki will take on responsibility for enhancing Jersey’s visibility in the US as an international finance centre, focusing in particular on promoting Jersey as a gateway to Europe for US fund managers.
With over 20 years of professional experience spanning investment banking, investment management, consulting, auditing and accounting, Pirecki has a track record of growing and leading businesses in the Caribbean, US and Europe. He has
Nobel Gulati has joined the board of Pictet Asset Management Holding SA – the Swiss holding company that controls all the asset management entities in the Pictet Group – as a non executive director, effective immediately.
Gulati retired from Two Sigma, a US based Hedge Fund, in 2019 after twelve years at the company. During his tenure he led the growth of the business with assets under management rising from USD3bn in 2007 to USD60bn in 2019. Before joining Two Sigma, Nobel held various roles at Citigroup, ABN Amro and NatWest Markets. A graduate of the University of Pennsylvania, he
The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Respondent, Eagle Market Makers, Inc. (Eagle), an Illinois firm, for engaging in wash sales and noncompetitive transactions which were traded on the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (collectively, CME).
The Order requires Eagle to pay a USD350,000 civil monetary penalty and implement and improve its internal controls and procedures.
James McDonald, the Director of Enforcement, says: “As today’s action shows, the CFTC will work tirelessly to ensure that the derivatives markets remain open and competitive, and are not undermined
Private markets general partners have continued to adopt third-party fund administration at a rapid rate, which aligns with the overall rising interest in this asset class among institutional investors, according to the 2019 eVestment Alternative Fund Administration Survey.
The median respondent grew real assets under administration by +20.64 per cent year-over-year and private equity and debt AUA by +11.35 per cent, according to the survey.
Institutional investors have increasingly turned to alternatives as a means of improving performance and diversifying their portfolios. Fund administrators have stepped in as partners to asset managers as the subsequent demand for institutional quality
Gibraltar is in a unique position for funds, despite the potential impacts of Brexit, according to a recent expert panel discussion entitled ‘Crypto Funds: The Gibraltar Solution’ moderated by a partner in Gibraltar law firm ISOLAS LLP, Jonathan Garcia.
The panel was hosted by the Gibraltar Funds and Investment Association (GFIA) at the Traveller’s Club in London on 12 of June.
In addition to Garcia, who has recently been re-elected to the Executive Committee of the GFIA, as moderator, panellists included Jay Gomez and James Lasry, who sit with Jonathan as members of the GFIA executive; Pavel Stehno, Investor, Entrepreneur and founder of
SANNE, a global provider of alternative asset and corporate administration services has obtained a new bookkeeping licence in China expanding its existing product offering in the country.
SANNE can now offer bookkeeping, accounting and tax preparation services for Chinese registered entities.
Jing Jing Qian (pictured), Managing Director, Asia-Pacific says: “We are delighted to have obtained this new licence. It underlines SANNE’s trusted reputation as a global leader in providing fund accounting and corporate administration services and aligns with our expansion plans as we double our head count in China, strengthening SANNE’s commitment to the Chinese market.”
Mark Law Chief Commercial
Apex Group (Apex), has successfully closed the acquisition of the Corporate and Private Client Services (CPCS) and Throgmorton businesses of Link Group’s Asset Services division.
The acquisitions add over 600 employees and 6,000 clients to the Apex Group, across multiple markets, and bolsters Apex’s corporate services capabilities adding specialist hubs in the UK, Jersey, Ireland, Luxembourg, the Netherlands, Hungary and Switzerland.
Over the past eighteen months, Apex has continued to expand its capabilities to meet client demand successfully executing a programme of strategic acquisitions to deliver on its ambition to offer a unique end-to-end solution for global asset managers
