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The Securities and Exchange Commission has charged a Seattle-based financial adviser and his firm with defrauding clients by secretly investing their money in two risky start-up companies he co-founded.
The SEC alleges that Mark Spangler, a former chairman of the National Association of Personal Financial Advisors, funnelled approximately USD47.7 million of client money into these private ventures despite representing that he would invest primarily in publicly traded securities. Spangler served as chairman and CEO of one of the companies, which is now bankrupt. Such risky investments were inconsistent with the investment strategies that Spangler promised his clients and contrary to
Dow Jones Indexes has expanded the Dow Jones LSP Position Sizing Index family to include three new size-segment indexes: Dow Jones LSP Position Sizing US Large-Cap 250 Index; Dow Jones LSP Position Sizing US Mid-Cap 250 Index; Dow Jones LSP Position Sizing US Small-Cap 250 Index.
The Dow Jones LSP Position Sizing Indexes are quantitative-strategy gauges based on a proprietary quantitative algorithm created by the risk-management-research consulting firm LSP Partners LLC. The new size-segment indexes supplement the Dow Jones LSP Position Sizing Equal Sector US Large-Cap 50 Index, which launched in January.
Indexes in the Dow Jones LSP
London-based RMG Wealth Management is apparently planning to launch its inaugural UCITS fund for UK clients before year-end reported FT Adviser this week.
CBOE Futures Exchange, LLC (CFE) plans to launch trading on the CBOE NASDAQ-100 Volatility Index futures contract beginning on Wednesday, 23 May, pending regulatory approval.
VXN, which measures the volatility of the NASDAQ-100 Index, is calculated through the application of CBOE’s VIX methodology to the prices of options on NDX.
The NASDAQ-100 Index represents the largest non-financial US and international securities listed on The NASDAQ Stock Market, based on market capitalisation. As of May 15, 2012, 63.76 percent of the Index securities were classified as technology.
"Our customers are seeking ways to trade and better hedge the dynamic volatility in
Altegris Advisors has launched the Altegris Equity Long Short Fund (ticker:ELSAX). This fund aims to generate and capture alpha on the long and short side of the equity markets, predominantly US stocks.
Since 1990, long/short equity represented by HFRI Equity Hedge Total Index gained 1,339%, while US stocks represented by S&P 500 Total Return Index gained 469%.
"We believe many long/short funds are managed by long-only managers who’ve only recently started shorting," says Jon Sundt (pictured), President and CEO of Altegris and Co-Portfolio Manager of the Altegris Family of Mutual Funds. "We were methodical in our preparation for launching this
The US Commodity Futures Trading Commission (CFTC) has obtained two federal court consent orders of permanent injunction against Ronald E Satterfield and Nicholas and Patricia Bos.
One order requires defendant Ronald E Satterfield, of Charleston, SC, to pay USD957,146 of restitution and a USD2,871,438 civil monetary penalty, and the other requires defendant Nicholas Bos (Bos) of Ludington, Michigan, to pay USD849,146 of restitution and a USD2,547,438 civil monetary penalty, for operating a foreign currency (forex) Ponzi scheme.
The Bos order also requires Patricia Bos (P. Bos), a relief defendant and Bos’ wife, to disgorge USD295,000 in ill-gotten gains. The orders also impose permanent trading and registration
FXCM Inc has fully launched its forex trading app store – FXCM Apps – a unique offering in the retail forex industry, hosting applications for the FXCM Trading Station and MT4 platforms.
FXCM Apps opens the door for traders to choose from dozens of plug-and-play apps for all types of traders.
“It is about customising the user experience,” says Sameer Bhopale, chief marketing officer of FXCM. “Trading is a large part of our audiences’ lives. Why not provide them a medium to customise their experience, whether it is through providing indicators, strategies, or custom tools. Every trader has different needs
Pallas Global has launched a real estate investment and advisory firm in New York City. This full-service investment and advisory firm serves real estate developers by providing financing from Pallas’ proprietary network of hedge funds, family offices and high net worth individuals throughout the World.
Pallas also assists real estate investors who are interested in investing in the residential, hospitality and commercial markets, including retail and mixed-use properties, specifically in Manhattan.
This innovative company works as an intermediary between private owner-operators and qualified investors. The company specialises in providing equity and debt capital financing for commercial and residential real estate
AXA Investment Managers announced this week that it had obtained permission to open a representative office in Beijing having received its registration certificate from Beijing Administration of Industry and Commerce.
Ying Du has been appointed as Chief Representative and will report to Terence Lam, AXA IM head of sales & marketing, Asia. In a move that certainly helps solidify the firm’s presence in the region, the new office will focus on performing market research and building relationships with Chinese institutional investors. AXA IM says it wants to contribute to the rapid development of China’s asset management industry; having a
In the framework of the NER 300 Initiative of the European Investment Bank (EIB,) European Energy Exchange (EEX) will launch auctions of EU allowances (EUA), which will be held on four days per week on its Derivatives Market in June and July.
For the first time, EU allowances for the third trading period will be auctioned on EEX.
The EIB auctions will be carried out by EEX during the period from 7 June to 31 July 2012. The auctions are scheduled to take place on Monday, Tuesday, Thursday and Friday of the respective weeks with a volume of 625,000 EUAs
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