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National Futures Association (NFA) has levied a fine of USD500,000 against Vision Financial Markets LLC (Vision). Vision is a Futures Commission Merchant and Commodity Pool Operator with headquarters in New York City and branch offices in Chicago, Illinois and Stamford, Connecticut.
The decision, issued by NFA’s Business Conduct Committee, is based on a Complaint filed in May 2011 against Vision and its president and senior vice president, Howard M. Rothman and Michael P Doherty, respectively and a settlement offer submitted by them.
The Committee found that Vision, Rothman and Doherty failed to diligently supervise five of Vision’s Guaranteed Introducing Brokers
- 22/05/2011
Ahead of the proposed launch of Castlestone Management’s Aliquot Precious Metals UCITS fund on May 31, the firm’s CEO Angus Murray has been expounding the virtues of holdi
- 22/05/2011
ML Capital are certainly busy right now.
- 22/05/2011
EFAMA released a report on the evolving investment strategies of UCITS this week as the popularity in “newcits” – UCITS funds that employ hedge-like strategies to achieve ab
- 22/05/2011
Babson Capital Europe, the credit specialist investment firm, has hired high yield specialist Kam Tugnait reported Creditflux this week.
- 22/05/2011
CAISfunds, a New York based financial technology company providing an independent, alternatives investment platform to the wealth management community, has announced a strategic partnership with Fundspire, a provider of hedge fund analytics and portfolio management tools.
The Fundspire technology integration will add statistical analysis capabilities to the CAISfunds platform and allow advisors to analyse funds, optimise allocations, and construct client portfolios. Further, it will offer robust charting and report creation functions reflecting rolling statistics and correlations of a fund over varying investment periods. Fundspire provides a wide set of performance and risk metrics and market data for more than 1,500 indices
- 22/05/2011
HSBC Securities Services (Guernsey) Limited believes new measures to improve the safeguarding and verification of assets managed in the EU will best be handled by large, multi-jurisdictional administrators and custodians with strong balance sheets.
Article 21 of the Alternative Investment Fund Manager Directive (AIFMD) introduces the new concept of a ‘depository’ responsibility into the alternative fund management value chain, a concept taken from the more regulated UCITS domain. It is envisaged that the depository will be responsible for oversight of the fund, for safe-keeping of assets that can be kept in a safe custody account (the depository generally remaining liable
- 22/05/2011
Michael McKee (pictured), Head of Financial Services Regulation at DLA Piper, comments on the EU Finance Ministers decision not to permanently ban naked CDS shorting…
When the market targets the debt of a particular sovereign borrower it is usually because the country’s politicians have failed to make economic reforms quickly enough.
Usually, it is the country’s government that is to blame for such a debt crisis – rather than the markets. However, given the economic pressure on the Eurozone, the European Council have shown considerable political restraint in limiting themselves to passing emergency powers to impose a ban on naked
- 20/05/2011
- 20/05/2011
Lisa Le Gresley (pictured) has recently joined Jersey Trust Company (JTC) as a Director in the Corporate Services Division and will focus on developing JTC’s fund services and real estate client base.
Le Gresley is a Chartered Accountant and holds an MBA. She will be responsible for building relationships with the local funds’ industry, developing new business opportunities and acting as client director on a portfolio of international fund clients.
Having previously worked as a director in the Corporate Fiduciary Funds Division at Kleinwort Benson, Le Gresley has over 10 years’ funds industry experience with specific expertise in offshore structuring
- 20/05/2011
- 20/05/2011
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, Florida, with fraud in connection with offering, purchasing, selling or delivering gold, silver, platinum and palladium to US retail customers on a leveraged basis.
The CFTC’s lawsuit also alleges that the defendants violated the Commodity Exchange Act’s prohibition against selling palladium to customers on a leveraged basis. APM has never been registered with the CFTC.
The CFTC complaint was
- 19/05/2011
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