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The Securities and Exchange Commission has filed a Complaint in federal district court against RKC Capital Management LLC, RKC Capital, LLC (RKC) and Russell K Cannon (Cannon), (collectively “Defendants”).
The Complaint alleges that the Defendants artificially inflated the assets of a hedge fund they managed, RKC Matador Fund LLC (Matador), to defraud Matador investors.
The Complaint alleges that from at least November 2007 through July 2011, Defendants engaged in fraudulent conduct to overstate the assets under management of Matador. Defendants did this through causing the price of Matador’s largest holding, stock in Global Pari Mutuel Services, Inc (Global), to artificially
Northern Trust Hedge Fund Services LLC, is actively working with its private fund clients to provide the data necessary for Form PF reporting.
With Northern Trust’s single, global platform for operations and flexible data management capabilities, Northern Trust Hedge Fund Services is able to present portfolio and trade information as well as risk data from outside providers in a format suitable for Form PF reporting, a regulatory filing required of hedge funds, private equity and other private funds beginning this year.
"While Form PF presents a new requirement to our private fund clients, the data aggregation and regulatory expertise necessary
Neal Berger (pictured), President, Eagle’s View Asset Management, and one of the speakers at GAIM International 2012 in Monaco in June, gives his views on current challenges facing investors, hedge fund heroes, and making successful investments…
What’s the biggest challenge an investor faces today?
For those of us who are in the business of investing with ‘best of breed’ talent, and more specifically, strategies that exploit a structural inefficiency in the marketplace, these Managers are closing to outside capital at an alarming rate. With hedge fund AUM growth at 35% per annum since 1999, finding capacity in Managers who are
LCH.Clearnet Limited’s interest rate swap clearing service, SwapClear, has announced in increase in buy-side cleared volumes of 175% y-o-y to April 2012.
A marked acceleration in cleared volumes over the last two months has driven total end-user client notional cleared on SwapClear to USD 712 billion. The movement towards central clearing of interest rate swaps comes ahead of the regulatory mandate, expected in 2012 in the US, and soon after in Europe. As demand for clearing increases, buy-side firms are currently clearing across eight of the 17 currencies available and have already started to backload existing portfolios.
“The pipeline of buy-side
The US Court of Appeals for the First Circuit has entered an order dismissing the appeal of Leila C Jenkins, the principal of Rhode Island-based investment adviser Locke Capital Management.
Jenkins had appealed a 30 June, 2011 decision by a federal judge in the US District Court for the District of Rhode Island. That decision granted the Commission’s motion for summary judgment and entered final judgments against both Locke and Jenkins. The Court of Appeals dismissed Jenkins’ appeal after she filed a motion to withdraw it.
The Commission’s Complaint against Locke and Jenkins, filed in March 2009, alleged that they
Vahan Zerounian has joined WTAS as a Director in the Alternative Investment Funds Practice in the firm’s Los Angeles office. Prior to joining WTAS, Vahan was a Tax Director at Marcum LLP.
Vahan has more than 14 years of experience in professional tax and accounting services. His practice area focuses on tax consulting and compliance for alternative investment entities including hedge funds, private equity funds, venture capital funds, real estate funds, portfolio companies and management companies. He also has extensive experience involving domestic and foreign transactions, and formation and dissolution of entities.
"Vahan’s extensive experience with alternative investments will be a strong
Deutsche Börse Group has completed its full acquisition of Eurex Zürich AG. Representatives of SIX Swiss Exchange/SIX Group AG and Deutsche Börse AG jointly finalised the transaction in Zurich and signed the corresponding closing documents. Deutsche Börse is to pay EUR295 million and transfer approx. 5.3 million Deutsche Börse AG shares to the SIX Group.
This gives the SIX Group a stake of around 2.7 per cent in Deutsche Börse AG. In return, Deutsche Börse has acquired the SIX Group’s share in the Eurex Group, the derivatives market provider that was previously under joint operation. The transaction was agreed on
Man saw net outflows of USD1.0 billion in the first quarter of 2012, reflecting sales of USD3.1 billion and reduced redemptions of USD4.1 billion, according to the group’s interim management statement for the three months ended 31 March 2102. There was a net outflow from alternative funds of USD1.4 billion and a net inflow of USD0.4 billion into long only styles.
The guaranteed product outflow of USD0.4 billion was identical to the previous quarter. The key drivers of the overall reduction in guaranteed product FUM are negative AHL performance and the resulting product degear.
Sales of open-ended alternatives were
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NICE Actimize, provider of a single financial crime, risk and compliance software platform for the financial services industry, has launched a comprehensive hedge fund trading compliance solution designed to monitor the activities of hedge funds across all cash market and derivative asset classes (exchange-traded and OTC).
NICE Actimize provides multiple deployment options, including on-premise, as well as hosting in a secure data center as an alternative delivery mechanism to help firms reduce the cost of operating and maintaining software in-house and acquiring market data.
The Actimize Hedge Fund Trading Compliance solution, based on a variation of existing market-proven NICE Actimize
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