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A federal judge in Rhode Island has granted the Securities and Exchange Commission’s motion for summary judgment and entered final judgments against Locke Capital Management, Inc, an investment adviser based in Newport, Rhode Island and New York City, and Leila C Jenkins, its founder and sole owner.
The Commission’s Complaint against Locke and Jenkins, filed in March 2009, alleged that they invented a billion-dollar client in order to gain credibility and attract legitimate investors. The Complaint further alleged that Jenkins tried to perpetuate her scheme by lying to the Commission staff about the existence of the invented client and furnishing
Signet, a USD1.5 billion fund-of-hedge-funds group based in the UK and the US, has hired Marco Meli as a senior investment specialist. Bridging the group’s portfolio management and business development functions, Meli will focus on customised investment products and investor relations in German- and French-speaking Europe.
Mel brings to Signet over a decade of experience in finance, including eight years in hedge funds. Before joining Signet he was a portfolio manager at EIM in Nyon, Switzerland, where he managed fund-of-hedge-fund portfolios for institutional investors and developed tailor-made products. He speaks three languages fluently, has a Bachelor’s Degree in Financial and
The US Commodity Futures Trading Commission (CFTC) has charged Flint-McClung Capital LLC (FMC) of Englewood, Colo., and Shawon McClung of Denver, Colorado, with fraud and misappropriation in an off-exchange foreign currency (forex) Ponzi scheme in which defendants allegedly fraudulently solicited and accepted at least USD1.9 million from at least 10 commodity pool participants since March 2010.
On 23 June, 2011, the same day the complaint was filed, Judge Christine M Arguello, of the US District Court for the District of Colorado, Denver Division, issued an emergency order freezing assets in defendants’ bank accounts and prohibiting the destruction of books and
Combining its macroeconomic expertise and global stock selection capabilities into a single solution for investors, Scout Investments (Scout) has introduced the Scout Global Equity Fund (SCGLX), an all-cap global core equity portfolio of high conviction investment ideas.
The no-load Scout Global Equity Fund showcases Scout’s experience in identifying growth-producing companies in the US and abroad. Lead portfolio manager and chief investment officer Bill Greiner (pictured) incorporates his comprehensive top-down outlook of the global markets to determine the fund’s domestic and international mix and how it is allocated across market capitalisations.
The portfolio is composed of focused "sleeves" of select companies
The European Union’s Directive on Alternative Investment Fund Managers will come into force on 21 July following its publication in the Official Journal of the European Union last Friday.
Perhaps not coincidentally, the publication of the directive – the last step before it become part of EU law – took place on the same day that the Ucits IV directive on cross-border retail fund distribution was due to be implemented by member states.
The directive received formal approval by the EU Council at a meeting of transport, telecommunications and energy ministers on 27 May, and it was formally signed in
The seemingly intuitive application of long-standing securities anti-fraud and anti-manipulation rules to the complex world of over-the-counter derivatives, particularly where derivative products intersect with the loan market, will affect trading practices and compliance rules at all institutions trading these instruments, according to Richards Kibbe & Orbe partners Julia Lu and Eva Marie Carney…
Before The Dodd-Frank Wall Street Reform and Consumer Protection Act, loan credit default swaps (LCDS) and loan total return swaps (LTRS) were outside the ambit of each of the Commodity Exchange Act (CEA), the Securities Act of 1933, and the Securities Exchange Act of 1934 and the
Skyline Capital Management, the London-based hedge fund manager established last year by Geoff Bamber and Vernon West, announced this week that it was launching a global equity
Gide Loyrette Nouel, an international law firm established in Paris in 1920 and regarded as one of Europe&rsq
According to research by RBC Dexia Investor Services, several European markets missed the deadline to implement the 1July UCITS IV Directive.
JP Morgan Asset Management has decided to launch a Japan Market Neutral (UCITS) Fund, based on the Nippon Neutral Strategy,
