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The Securities and Exchange Commission (SEC) has charged Steven L Hamilton and Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners with securities fraud for defrauding at least 23 investors out of USD1.6 million in a series of Ponzi schemes.
The SEC alleges from 2007 through February 2011, Hamilton solicited investors through the internet and via direct solicitation. The SEC’s complaint alleges that Hamilton told Covenant Capital investors they were investing in real estate loans secured by deeds of trust, told Verde Retirement investors they were investing in either real estate loans secured by deeds of trust, certificates of
The Australian Securities and Investments Commission has released for consultation draft regulatory guidance with new disclosure benchmarks and principles for hedge funds to improve investor awareness of the risks associated with these products.
The guidance, contained in Consultation Paper 174 Hedge funds: Improving disclosure — Further consultation (CP 174), sets out the specific features and risks of hedge funds that should be addressed in a Product Disclosure Statement (PDS) for these products.
ASIC Chairman Greg Medcraft (pictured) says it was necessary to ensure that disclosure gives investors the information they need to make an informed investment decision, which may include a decision not to
BI-SAM Inc has appointed Scott Okupski as North America Head of Client Services, responsible for product implementations, client relationships and local support.
Okupski’s appointment will reinforce BI-SAM’s North American management team, which has already been strengthened through a heavy recruitment drive. Growing from 5 to 15 employees, the US subsidiary has benefited from a large success in the market, and has seen client numbers doubled.
Current market requirements combined with the impressive reputation of B-One & BI-SAM’s team of experts are the group’s main success factors in the region.
With more than 15 years’ experience in financial platforms
New York-based hedge fund consultant Atrato Advisors has added to its team, recently hiring Jinah Jang as an analyst.
Jang, a quantitative specialist, had previously worked as an analyst at fund-of-funds Argus Advisors and at Schafer Cullen Capital Management. Her appointment comes just as the hedge fund advisory firm, led by partners Brian Reich and Janna Sobolev, has completed its third year in business. Atrato has also promoted Mike Boensch to Director of Research.
The continued growth at Atrato Advisors comes on the heels of firm’s first few institutional mandates, which include a national non-profit organisation and a global financial
William Bollinger (pictured), a pioneer of London’s hedge fund industry and one of the co-fo
International law firm Akin Gump Strauss Hauer & Feld LLP has announced plans to open an office in Hong Kong and further expand its international footprint.
Hong Kong Exchanges & Clearing (HKEx), Hong Kong’s stock market, this week started selling the first futures tracking volatility in Asia reported Bloomberg
Doric Capital Corp, one of Hong Kong’s oldest hedge fund firms founded by former Man Group Plc executive Michael Nock (pictured) in 1999, has taken the tough
Barclays Corporate has appointed Richard Garritt as Director, Funds and Asset Managers, within its Non-Bank Financial Institutions (NBFI) team, based in New York.
At Barclays, Garritt will be responsible for building the bank’s corporate banking relationships with existing North American clients and developing strong links with new clients within the funds and asset managers sector.
Garritt was previously a Director and Head of Fund Manager Relations at National Australia Bank in New York where he was responsible for delivering the business strategy for the funds sector. Prior to joining NAB, Garritt spent 11 years at Scotia Capital where he originated
Altana Wealth is opening the Altana Distressed Assets Fund (ADAF) managed by founder and CIO Lee Robinson, to outside investors.
Robinson has a 14 year audited track record of managing money successfully particularly in bear markets and he has personally invested over USD20 million of his own money in ADAF.
Robinson says: “ADAF aims to protect investor capital by profiting from unloved, or distressed assets that are in forced selling situations, fundamentally undervalued or trading at low multiples of mid cycle earnings. Given that the lowest multiples are currently in Europe and the continent is entering a seismic economic
