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Commissioners at the Securities and Exchange Commission have voted four to one to begin the 30 day public comment process on the Jobs Act.
This was a major step by the SEC to eliminate the ban on general solicitation and advertising for the hedge fund industry.
Agecroft Partners believes that this legislation is a fait accompli and ultimately the final regulations will end up being very favourable to the hedge fund industry, because it is good for both consumers and the hedge fund industry.
Until now, hedge funds have been banned from making general solicitations and advertising to the general
The Securities and Exchange Commission has proposed rules to eliminate the prohibition against general solicitation and general advertising in certain securities offerings.
Under the proposed rules, which are mandated by the Jumpstart Our Business Startups Act, companies would be permitted to use general solicitation and general advertising to offer securities under Rule 506 of Regulation D of the Securities Act and Rule 144A of the Securities Act.
“I believe that the proposed rules fulfil Congress’s clear directive that issuers be given the ability to communicate freely to attract capital, while obligating them to take steps to ensure that this ability
China has set out on a reform course that is expected to structurally transform its economic landscape. Mike Shiao (pictured), Investment Director in charge of Greater China Markets at Invesco, explores the key measures taken and the new opportunities these are believed to bring for investors in China’s equity markets…
Although Chinese equities continue to be overshadowed by weak external conditions and soft domestic economic data, we believe that current valuations may offer long-term investors a compelling opportunity to invest in quality companies at attractive levels.
The ongoing reform and transformation of China’s economic model has one goal –
HedgeServ, an independent global fund administrator, has added a Form PF (Private Fund) enterprise reporting solution to its service offering.
Designed to help hedge funds, private equity funds and other private fund managers comply with SEC regulatory filing requirements, HedgeServ’s solution streamlines the Form PF data gathering process and creates reports that can be electronically filed directly with the SEC.
Form PF is a Dodd-Frank US regulatory filing intended to help the SEC monitor industry-wide systemic risk. The filing requires fund managers to identify, map, verify, normalize, aggregate and store considerable information from a variety of internal and external sources.
Hedge fund managers are lagging the current summer rally, says Stefan Keller (pictured), head of MAP research & external relations at Lyxor AM…
And the market climbs the wall of worry. Who did not read recently that the financial crisis started five years ago? And that we’re now actors of "Crisis (season 6)"? We continue reading hedge fund managers reports expecting a 50% chance of a eurozone breakdown, noting that the reality of the crisis in Europe is no better (worse, in fact, as banking system fragmentation accelerated significantly in July), wondering if the upcoming ruling by Germany’s Constitutional Court
The Commodity Futures Trading Commission’s division of market oversight has issued a letter advising Eurex Deutschland that its Euro Stoxx 50 Ex Financials Index futures contract submitted by Eurex for review on 12 July has been deemed certified.
The contract satisfies the requirements of the Commodity Exchange Act and the Commission’s regulations and may be offered or sold to persons in the US through Eurex’s direct access terminals located in the US.
SEI has completed its first Form PF filing on behalf of a global, multi-billion-dollar hedge fund client.
SEI files the Form electronically as part of its multi-faceted Form PF service, designed to help managers ease the time, infrastructure, and expense burdens related to managing the volumes of information necessary to complete the regulatory filing.
The complexity and in-depth nature of the filing has driven many fund managers to seek outside expertise and support to meet their Form PF obligations.
Form PF, which last October was jointly adopted by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission
The economics of fixed income dealing operations is evolving due to market structure changes, emerging regulations, and disruptive technologies already in the market and on the horizon.
As new regulations continue to put pressure on revenue models, firms are investing in innovation in areas such as trading models, price discovery, and trading technology, according to a new report from Celent called “The future of electronic fixed income trading-cash and derivatives: regulation and dealer economics spur innovation in dealer-to-client markets”.
There are a myriad of regulatory drivers, and they all have teeth. The Basel III regulation (global) and the Volcker rule
The US District Court for the District of Utah has entered a final judgment against Jeffrey L Mowen, ordering him to disgorge USD8,041,779 in ill-gotten gains and USD1,964,203.67 in prejudgment interest.
The Court also ordered Mowen to pay a civil penalty of USD8,041,779, for a total of USD18,047,761.67.
The Court further enjoined Mowen from future violations of Section 10(b) of the Securities Exchange Act of 1934, Rule 10b-5 thereunder, and Section 17(a) of the Securities Act of 1933.
The SEC Complaint alleged that Mowen operated a Ponzi scheme that was fed through investor funds raised by another defendant, Thomas Fry.
The Securities and Exchange Commission has filed a settled civil action in the US District Court for the Northern District of California against Gary R Marks.
The Commission’s complaint alleged that Marks managed and recommended various fund of funds hedge funds through Sky Bell Asset Management (an investment adviser formerly registered with the Commission), including the Agile Sky Alliance Fund that was co-managed with the Agile Group, PipeLine Investors, Night Watch Partners, and Sky Bell Offshore Partners (collectively Sky Bell Hedge Funds).
The Commission’s complaint alleged that between at least 2005 and September 2007, Marks negligently misrepresented the level of
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