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FrontLine Compliance, a regulatory compliance consulting firm servicing investment advisers, broker-dealers, hedge funds, private equity firms, investment companies and insurance company affiliates, will open its new office headquarters at 6010 Executive Boulevard in Rockville, Maryland on 1 August.
The firm will continue to be based in the Washington, DC metropolitan area. The firm’s new location provides an expanded and modern office environment with close proximity to the primary securities industry regulators that include the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
The firm’s new address is located within the current re-development of
TPG, one of the world’s largest private equity firms, has been awarded over USD500,000 in sanctions against three hedge funds who had been pursuing unsuccessful involuntary bankruptcy petitions against two former TPG related companies.
A New York Bankruptcy Court granted the award last week (18 July 2013).
Law firm Kasowitz Benson Torres & Friedman represented TPG as the three hedge funds pursued the firm in courts around the world for the past three years. The team included Andrew K Glenn, Paul M O’Connor III, and Michele L Angell.
Stamell & Schager represented the three hedge funds, referred
The Depository Trust & Clearing Corporation (DTCC) is to acquire full ownership of Omgeo, combining Thomson Reuters’ 50 per cent stake in the company with DTCC’s existing 50 per cent ownership.
The transaction will facilitate increased collaboration among investment managers, broker-dealers and custodian banks, to further reduce industry risk and cost as the post-trade processing and regulatory environment continues to evolve.
Upon the closing of the transaction, Omgeo will become a fully-owned subsidiary of DTCC.
Marianne Brown (pictured) will continue to serve as president and chief executive officer for Omgeo.
“Full industry ownership enables market participants
Institutional investors intend to remain active in hedge funds, with 88 per cent indicating that they plan to make additional allocations during the second half of this year, according to Credit Suisse’s mid-year Hedge Fund Investor Survey.
This indicates that the industry may see continued significant levels of allocation activity in the second half of 2013.
In addition, respondents were asked to share their insights into whether they are planning to allocate, maintain or decrease allocations to various hedge fund strategies in the second half of this year. The top three strategies by net demand (percentage increasing allocation
EDHEC-Risk Institute–Asia is creating a scholarship scheme aimed at facilitating the participation of outstanding professionals in the executive track of its doctoral programme in Singapore.
Ahead of the launch of the ASEAN Economic Community and in the wider context of Asia-Pacific integration, EDHEC-Risk Institute has unveiled a new initiative to accelerate the build-up of a regional pool of finance experts and leaders.
Part of 100-year old EDHEC Business School, the finance research institute is creating a new scholarship programme to facilitate the participation of Asia-Pacific practitioners in the executive track of its PhD in Finance programme.
“Since it
Uneven progress is being made in implementing the Alternative Investment Fund Managers Directive (AIFMD) across the European Union, according to a joint study by hedge fund industry association the Alternative Investment Management Association (AIMA) and EY, the multinational professional services firm.
The AIMA/EY study found that although a majority of EU member states have either already transposed the AIFMD into law within the transposition deadline of 22 July 2013, or have drafted the final legislation and are awaiting parliamentary approval, only 12 have completed full legislative transposition.
At least five member states are known to have made little
Torstone Technology has released a new Inferno module that consolidates OTC derivative trades from multiple front office systems and feeds them into Global Trade Repositories (GTRs) such as DTCC, automatically.
The aim is to help financial institutions comply more easily and accurately with the transparency and reduced risk goals of new global regulatory reporting requirements for OTC derivatives evolving from the European Market Infrastructure Regulation (EMIR) and US Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
Torstone has developed the technology based around the open industry standard FpML messages for OTC products. Trades can be fed either
Yahoo! is to repurchase 40 million shares of Yahoo! common stock beneficially owned by hedge fund Third Point at a purchase price of USD29.11 per share.
The purchase price equals the closing price of Yahoo! common stock on 19 July 2013.
Following the repurchase, Third Point will beneficially own approximately 20 million shares, representing less than two per cent of Yahoo!’s outstanding common stock.
In accordance with the board’s settlement agreement announced on 13 May 2012, each of the directors originally nominated by Third Point – Daniel S Loeb, Harry J Wilson, and Michael J Wolf -–
The Financial Conduct Authority (FCA) has fined US-based high frequency trader Michael Coscia USD903,176 (GBP597,993) for deliberate manipulation of commodities markets.
This is the first time the FCA has taken enforcement action against a high frequency trader, and reflects the FCA’s objective of enhancing the integrity of the UK’s financial markets.
Between 6 September 2011 and 18 October 2011 Coscia used an algorithmic programme of his own design to instigate an abusive trading strategy known as “layering”.
During this time, Coscia placed thousands of false orders for Brent Crude, Gas Oil and Western Texas Intermediate (WTI) futures from
Volante Technologies, a provider of solutions aimed at simplifying the complexity of financial data integration, has expanded its operations in EMEA, US and Mexico with the addition of new key hires.
John Burgos joins Volante Technologies in New York as director, North American sales, bringing more than 15 years of experience in the financial services industry, with a focus on technology and data integration solutions.
Jon Head joins Volante Technologies’ sales team in London, where he will be responsible for European sales. He brings in more than 20 years of experience in financial services software sales, pre-sales,
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