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A special committee composed of representatives from the futures industry’s self-regulatory organisations (SRO) has proposed a series of initial recommendations for changes to SRO rules and regulatory practices designed to strengthen current safeguards for customer segregated and secured funds held at the firm level in light of the MF Global bankruptcy.
The four recommendations include:
Requiring all Futures Commission Merchants (FCM) to file daily segregation and secured reports. This will provide SROs with an additional means of monitoring firm compliance with segregation and secured requirements and a risk management tool to track trends or fluctuations in the amount of customer
Kinetic Partners, the global professional services firm to the asset management, banking and broking industry, has acquired AB Fund Services, the Luxembourg-based fund advisory firm.
AB Fund Services advises on regulatory and compliance requirements for investment funds domiciled in Luxembourg, with a particular emphasis on the risk management requirements of the regulator, Commission de Surveillance du Secteur Financier. It has an established reputation as a leading investment fund consultancy in Luxembourg, assisting funds in all of their infrastructure, risk management and operations needs.
Established in 2005, Kinetic Partners has grown rapidly to serve over 1,200 clients globally, providing a
Worldview Capital Management, the Swiss-based investment management firm, has launched a new fund that will focus on investments in emerging markets.
Headed by Angelo Moskov, the core investment team comprises of former members of US hedge fund QVT who have worked together since 2003 and plan to build on its past successes. Worldview’s approach is discovering deep value within a range of geographical regions – Central and Eastern Europe, South Eastern Europe, Russia and other countries of the Former Soviet Union (FSU), Central Asia and Africa – across multiple asset classes. Moskov and his team apply a bottom-up investment approach,
The US Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Christopher Varlesi of Chicago, Illinois, individually and doing business as Gold Coast Futures and Forex (Gold Coast).
The CFTC is charging Varlesi with fraudulently operating a commodity pool to trade commodity futures and off-exchange foreign currency (forex) contracts. The CFTC complaint also charges Varlesi with making false statements to pool participants, misappropriating pool funds, and failing to register as a commodity pool operator.
On 8 March, 2012, US District Court Judge Robert M Dow, Jr entered an emergency ex parte restraining order freezing Varlesi’s assets. The order also prohibits him from destroying
Stratton Street Capital LLP’s assets under management and advice have reached USD1 billion having risen from USD593 million at the start of 2011.
Following the launch of new currency classes, including Swiss Francs, to their Renminbi Bond Fund assets in the Fund rose from USD94.8 million to USD118.3million. This acceleration in growth increased assets under management and advice to over USD1 billion.
Andy Seaman (pictured), Partner and Portfolio Manager, says: "We now have Swiss franc classes in both the Wealthy Nations Bond Fund and our Renminbi Bond Fund. These are a reflection of the enthusiasm of Swiss investors for the
Stephanie Miller has joined JP Morgan Worldwide Securities Services as Global Head of the Alternative Investment Services business, reporting to Nick Rudenstine, Global Head of Investor Services for WSS.
In this new role, Miller will oversee strategy and direction for WSS’ Private Equity & Real Estate Services and Hedge Fund Services. This strategic new hire demonstrates an ongoing commitment to strengthening the alternatives business within WSS.
Prior to joining WSS, Miller was a Managing Director for Citco Fund Services (USA) Inc, which offers full Hedge Fund and Private Equity administrative services. At Citco, Stephanie was responsible for all operations
Alternative UCITS funds made further gains last month according to Alix Capital, provider of the UCITS Alternative Index Global which climbed 0.87 per cent to put it +2.25 per cent YTD.
BNY Mellon has launched the BNY Mellon Emerging Markets Corporate Debt fund, a Dublin-domiciled UCITS, and is to be managed by Insight Investment.
A move away from nuclear energy in light of last year’s tragic accident at the Fukushima nuclear power station in Japan is creating opportunities for transmission and e
To date hedge funds have largely escaped the impact of the increasing scope and aggressive enforcement of the Foreign Corrupt Practices Act by the US Department of Justice and the Securities and Exchange Commission. However, Matthew Reinhard, a member at Washington, DC law firm Miller & Chevalier, argues that hedge fund firms must monitor two large FCPA risk areas: inbound investment into and outbound investment by the fund…
It is hard to ignore the increasing scope and aggressive enforcement of the Foreign Corrupt Practices Act by the US Department of Justice and the Securities and Exchange Commission. While some recent
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