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The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action in the US District Court for the Middle District of Alabama charging John David Stroud and his companies, Stroud Capital Management, LLC, TS Capital Partners, LLC, and TS Capital Management, LLC, all of Auburn, Ala, with fraud and misappropriation in operating two commodity pools.
On 7 March, 2012, US District Court Judge Myron H Thompson entered an emergency restraining order freezing defendants’ assets. The order also prohibits the defendants from destroying books and records and denying CFTC staff access to such records. The judge set a hearing date for 16 March, 2012.
A delegation from Guernsey has been in Moscow to raise the Island’s profile as an international investment funds centre.
The team was led by Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry.
The itinerary included a series of meetings with investment managers, private banks, accountancy firms and law firms as well as attending the Russian Fund Forum which attracted around 150 delegates over two days at the Moscow Marriott Grand Hotel.
Miss Le Poidevin says: “Guernsey has attracted very well known and highly respected names in the Russian funds world
By Debbie Payne and Gary Burr of PricewaterhouseCoopers – On 8 February 2012, the US Department of Treasury and IRS issued long-awaited draft regulations providing guidance on the application of the FATCA regulations.
Of more significance is the Joint Governmental Statement issued on the same day by the UK, France, Germany, Italy and Spain. This changes FATCA from a piece of unilateral US legislation to the start of an extensive multi lateral reporting system.
A further consequence is that FATCA will now become part of not just UK legislation but the domestic legislation of many FATCA Partners. For the UK
Value Partners Group (806:HK), one of Asia’s largest independent asset managers with approximately USD7.7billion in assets as at 31 January 2012, announced this week
Asian hedge funds continue to surge ahead as they attempt to eradicate last year’s losses.
Asia-focused hedge funds that launched post financial crisis are shutting as they struggle to compete for, and raise new capital from a shrinking pool of key investors reported Bloomberg
A former managing director at Standard Chartered and derivatives trader Yiming Liang, and the former chief investment officer of China&r
Gibraltar could benefit from a change to Luxembourg law, which has slowed down the launch of specialised investment funds in the Grand Duchy.
On 6 March 2012, the Luxembourg parliament passed a bill of law amending the Luxembourg law of 13 February 2007 on specialised investment funds (SIF). It is now no longer possible to launch SIF prior to the approval of Luxembourg Supervisory Commission of Financial Sector making launch of a fund slower.


James Lasry (pictured), Head of Funds at Hassans, International Law Firm in Gibraltar, says: "As a result of the new Luxembourg law that removes the possibility
Hedge funds posted their strongest start to a calendar year since 2000, with significant contributions from strategy areas which underperformed in 2011, according to data released today by HFR.
The HFRI Fund Weighted Composite Index gained 2.14 per cent in February, bringing performance through the first two months of 2012 to nearly five per cent. The recent gains have nearly recovered the -5.26 per cent decline from 2011, a year in which total hedge fund industry capital rose by 3 per cent to $2.02 Trillion.
Equity Hedge funds have had the most significant contribution to HFRI performance in 2012,
Kleinberg, Kaplan, Wolff & Cohen has appointed Howard Mulligan as Of Counsel in the Corporate Department. Mulligan is an experienced corporate and securities attorney who practices in the areas of structured finance and business restructurings.
Mulligan previously practiced in the New York offices of law firms McDermott Will & Emery, Dewey Ballantine LLP, and Milbank, Tweed, Hadley & McCloy LLP.
Mulligan brings 17 years of experience in the areas of structured finance, securitisation, derivatives and mergers and acquisitions involving structured products, workouts and restructurings, and entertainment law. At Kleinberg Kaplan, Mulligan will work collaboratively with attorneys across the firm’s
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