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The Honourable Jed S. Rakoff of the United States District Court for the Southern District of New York entered a judgment against Adam Smith in SEC v Adam Smith, 11-CV-0535, an insider trading case the SEC filed on January 26, 2011.
The complaint alleged that Smith, a former portfolio manager at New York-based hedge fund investment adviser Galleon Management, LP, traded in the securities of ATI Technologies Inc, based on material nonpublic information concerning the acquisition of ATI by Advanced Micro Devices Inc. that was announced in July 2006. Prior to the announcement, Smith learned of the acquisition from an
The number of agricultural derivatives traded on Eurex has exceeded 100,000 contracts since their launch in July 2009. Volume has been increasing steadily, partly due to the volatile weather conditions in 2011 and 2010.
Year-to-date, the average daily volume (ADV) is above 300 contracts, or around 38,000 contracts in total. In June 2011, the ADV stands at almost 400 contracts. In 2010, the ADV was around 200 contracts.
Eurex offers six agricultural futures based on butter, European processing potatoes, hogs, London potatoes, piglets and skimmed milk powder. All futures are based on established reference prices from the respective spot markets
EFAMA, the European Fund and Asset Management Association, has elected Claude Kremer as its President for a two-year term. The election of the new EFAMA head took place in Lucerne during the association’s Annual General Meeting.
The representatives of the European investment management industry also appointed two Vice-Presidents, Mr Christian Dargnat and Mr Massimo Tosato. It is the first time that EFAMA has elected two Vice Presidents, reflecting its commitment to engaging with the industry regulatory and operating environment.
The new President, Mr Kremer, has already served as Vice-President and will succeed Jean-Baptiste de Franssu who served for two years. Kremer
Cedrus Investments, a global boutique investment firm, has appointed Denise Gower (pictured) as Vice President of Business Development.
Based in Cedrus Investments’ head office in Grand Cayman, Cayman Islands, Gower will be concentrating on: developing and managing global business development; client relationship management; and marketing strategy formation and implementation for the firm, which specialises in wealth and asset management as well as financial advisory services.
Gower has over 10 years of experience in strategic business development and positioning for financial services organisations, most recently as the Head of Marketing for Cayman Finance, a private-sector organisation with a mandate to actively
Altarius Asset Management Limited, the Malta-based asset management branch of Altarius Group, today announced the launch of its Fund Platform, PARAGON S.I.C.A.V. plc (PARAGON) which is one of Malta’s first independent fund platforms exclusively open and dedicated to third party managers and Family Offices.
Registered as a PIF. (Professional Investment Fund), PARAGON is highly flexible with regard to investment strategy, liquidity, reporting and leverage. One of PARAGON’s key benefits is that it does not attract income or capital gains tax.
Amongst its many strengths PARAGON has an open-architecture which allows clients the opportunity to nominate their own service provider.
Having the right people, processes and technology is fast becoming a prerequisite for hedge fund growth, according to a PwC paper published today. ‘Infrastructure: from cost to benefit – hedge funds 2.0’ examines the impact of the crisis on the industry and outlines what all parts of the hedge fund value chain need to do to satisfy regulatory demands and capitalise on growth opportunities.
Regulatory impetus includes the SEC registration requirements in the US (Dodd Frank), the Alternative Investment Fund Managers Directive (AIMFD) and the Foreign Account Tax Compliance Act (FATCA). These pressures, combined with greater investor due diligence
Abante Asesores, a boutique investment house with offices in Madrid, Barcelona and Valladolid is preparing to launch a
Paris-based Aequam Capital, an independent quantitative fund manager established last year by Arnaud Chretien, has launched the Aequam Currencies Fund: a UCITS III-compliant systematic multi-curren
Investors are getting worried about alternative UCITS funds using total return swaps according to a new quarterly survey conducted by Geneva-ba
