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Barclays Capital has appointed a new hedge fund executive, Nicholas Wright, as its head of global market
Carey Olsen has advised Argentum Capital on the Jersey legal aspects of its multi-million pound listing on the Channel Islands Stock Exchange, the first listing of a litigation fund on the CISX.
Third-party funding is the provision of funding for litigation in return for a share in the proceeds. The funding is used to cover legal costs that would enable a case to be taken to a successful conclusion. Litigation investment is gaining momentum in the UK as a new area of investment as an emerging asset class and the CISX listing breaks new ground for the Channel Islands.
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Ruud Hendriks, a non-executive director of Man Group, has been appointed as non-executive Chairman of the firm’s Institutional Department and will step down from the Board. Ruud’s change of role will be effective from 1 December, 2011.
Ruud has a lifetime’s experience in institutional sales, having previously been a Managing Director and Co-Head of Sales for Europe, Middle East and Africa at Goldman Sachs and Global Head of Institutional Sales for Robeco, a leading international asset manager.
Jon Aisbitt (pictured), Chairman of Man, says: “While we are sorry to see Ruud step down from the Board, I am delighted
NYSE Technologies, the commercial technology unit of NYSE Euronext, has made Level 1 and Level 2 OTC Markets Group data through its global market data platform, SuperFeed.
SuperFeed is a fully hosted consolidated market data service managed by NYSE Technologies that offers direct connectivity to a range of key global trading venues, now including the over-the-counter securities trading on OTC Markets Group’s platforms. This data solution reduces complexity and client overhead by allowing customers to consolidate fragmented technologies and complicated connectivity options, thereby reducing costs and multi-vendor dependency.
“The addition of OTC data from the world’s largest electronic marketplace
BNY Mellon has launched MarginEdge, a global derivatives margin management service that allows financial institutions, clearing members and central counterparties (CCPs) to manage margin collateral efficiently while balancing trading costs and capital requirements associated with listed, cleared over-the-counter (OTC) and bilateral OTC derivatives.
Through MarginEdge, market participants use BNY Mellon’s technology and expertise to reduce risk and increase efficiency in the complex derivatives collateral management process. In particular, MarginEdge helps segregate assets, supports transformation services, optimises the use and allocation of collateral, consolidates margin management across collateral locations and providers, and simplifies connectivity among market participants for margin movements.
A federal court has entered a default judgment order requiring defendants Willie L Cloud, Jr and his company, C & R Financial, Inc, both of Houston, Texas, to pay restitution of USD280,170.66 and a USD5,070,000 million civil monetary penalty for operating an off-exchange foreign currency (forex) Ponzi scheme.
The order stems from a CFTC complaint filed on 4 March, 2010, that charged the defendants with violating the anti-fraud provisions of the Commodity Exchange Act.
The order, entered on 24 March, 2011, by Judge Gray H Miller of the US District Court for the Southern District of Texas, permanently bans the
Judge John F Grady of the US. District Court for the Northern District of Illinois has entered a final judgment against Jeffrey R. Neufeld (Neufeld) and Paridon Capital Management LLC (Paridon) of Elgin, Illinois for defrauding the TCM Global Strategy Fund (TCM Fund or the fund), a hedge fund, and its investors.
Without admitting or denying the Commission’s allegations, Neufeld and Paridon consented to the entry of the final judgment which imposed a USD75,000 civil penalty against Neufeld.
Previously, on 27 April, 2011, the Court permanently enjoined Neufeld and Paridon from violating Section 17(a) of the Securities Act of 1933,
Global financial crises and continued market volatility have transformed attitudes toward investing. As managers respond to the evolving needs of investors and their advisors, previously segregated products and segments are converging, according to a new paper from SEI.
Regulated Alternative Funds: The New Conventional, which evaluates the opportunities and challenges managers face when launching and distributing alternative investment strategies in a registered mutual fund or UCITS format, says the convergence is seen in growing capital flows into regulated alternative investment products, most often in the form of UCITS funds and US-registered mutual funds.
During the first half of 2011, more
Jay Gould, partner with law firm Pillsbury Winthrop Shaw Pittman, says the SEC’s recent decision to charge three investment advisers over compliance failures sends a ‘clear signal’ that the regulator is ‘serious about adviser compliance’…
On November 28, 2011, the SEC charged OMNI Investment Advisors, Inc of Utah, Feltl & Company Inc. of Minneapolis and Asset Advisors LLC of Troy, Michigan for failing to adopt and implement compliance procedures designed to prevent securities law violations.
The three enforcement actions discussed below should send a clear signal to investment advisers that are already registered and have implemented written compliance policies and
Professional services provider Rothstein Kass has appointed Meredith Jones as a Director. In this newly created role, Jones is responsible for generating research and content on the alternative investment industry by and on behalf of Rothstein Kass. She will provide strategic consulting services to Rothstein Kass clients and bring her business development skills to the firm.
"This is an exciting next step in my career," says Jones. "I am very much looking forward to working with such a respected and forward-thinking company where I can directly contribute to growth and success of both the firm and its clients."
Prior to
