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Andrew Shrimpton, member at Kinetic Partners, on the extension of the deadline for SEC registration for Foreign Private Investors…
The SEC have now confirmed the extension of the deadline for registration for hedge funds to 30 March 2012, following the Dodd Frank Wall Street Reform Act which was passed in July last year.
The extension hugely relieves the pressure on fund managers, as it provides them with much needed time to implement additional systems to ensure timely compliance with the provisions of the Act. However, there is still a lot of work for fund managers to do in order to meet
Man Group plc has successfully launched the Man GLG Multi-Strategy fund – the first combined UCITS fund to result from Man’s acquisition of GLG Partners, Inc. in 2010, which created the world’s largest independent alternative asset manager.
The open-ended fund, which offers daily dealing, has raised more than EUR100m in commitments. It is designed to give both retail and institutional investors access to a complimentary portfolio of 10 to 15 Man-run UCITS funds, including industry-leading GLG and AHL strategies, as well as Man’s Man Systematic Strategies (MSS), Man Convertibles and Ore Hill strategies.
A dedicated investment team, led by
The Securities and Exchange Commission has adopted rules that require advisers to hedge funds and other private funds to register with the SEC, establish new exemptions from SEC registration and reporting requirements for certain advisers, and reallocate regulatory responsibility for advisers between the SEC and states.
The rules adopted by the Commission implement core provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding investment advisers, including those that advise hedge funds.
“These rules will fill a key gap in the regulatory landscape,” says SEC Chairman Mary L Schapiro (pictured). “In particular, our proposal will give the Commission,
The Conifer Group, LLC (Conifer), a provider of fund administration, middle office, trading and prime brokerage services to the hedge fund industry, has named Peter O’Connell (pictured) as its Chief Financial Officer. Prior to accepting this position, O’Connell was the President and founder of Conifer Fund Services offshore fund administration business.
In addition, Conifer has also named Douglas Lang as President of Conifer Fund Services and David Bateman as Director and Head of Conifer Fund Services, BVI.
This executive reorganisation comes as Conifer embarks on a period of expansion designed to further meet the evolving needs of the hedge
The principal sectors of Jersey’s finance industry showed strong growth in the first three months of 2011, with rises in new fund launches and the value of funds under administration providing particularly positive news for Jersey’s funds sector.
Geoff Cook, Chief Executive of Jersey Finance Limited, was encouraged by the strong performance for the first quarter of 2011, highlighting that the value of funds being administered in Jersey is now at its highest since June 2009 and that the total number of funds has increased by the largest amount for the first quarter of any year since 2008.
Furthermore, bank
Kevin Huby has been appointed a Member at Kinetic Partners to focus on building the firm’s risk management and remediation services. This new appointment will complement and significantly strengthen Kinetic Partners’ highly regarded regulation and compliance service offering.
Huby joins Kinetic Partners from Ernst & Young, where he established and led a team focusing on the investigation and resolution of accounting, operational and regulatory control failure.
During his time at Ernst & Young, Huby was recognised as the firm’s leading specialist in asset servicing and investment administration and led a number of major projects for many of the world’s
Hedgeweek spoke to Lisa Corvese, MD Global Product Marketing, PerTrac following the recent release of the company’s eighth annual hedge fund database study entitled: Sizing the 2010 hedge fund universe.
On 8 June, 2011, The Honourable Jed S Rakoff of the United States District Court for the Southern District of New York entered a judgment against Gautham Shankar in SEC v Galleon Management, LP, et al, 09-CV-8811, an insider trading case the SEC filed on October 16, 2009. The SEC charged Shankar, who was a registered representative and a proprietary trader at the broker-dealer Schottenfeld Group, LLC, during the relevant time period, with using inside information to trade ahead of impending acquisitions and earnings announcements.
In its action, the SEC alleged that, on July 2, 2007, Shankar was tipped with
JP Morgan Securities LLC is to pay USD153.6 million to settle SEC charges that it misled investors in a complex mortgage securities transaction just as the housing market was starting to plummet. Under the settlement, harmed investors will receive all of their money back.
In settling the SEC’s fraud charges against the firm, JP Morgan also agreed to improve the way it reviews and approves mortgage securities transactions.
The SEC alleges that JP Morgan structured and marketed a synthetic collateralized debt obligation (CDO) without informing investors that a hedge fund helped select the assets in the CDO portfolio and had
JP Morgan has launched a full prime brokerage offering for clients in Europe, the Middle East and Africa. The investment bank now has the local infrastructure in place to serve international and regional clients across the entire spectrum of both cash and synthetic products for the first time.
The build-out of the European platform reflects the firm’s wider strategy to invest in Prime Services and offer a full suite of products for hedge fund clients globally.
“This is a key milestone for our international business,” says Sandie O’Connor (pictured), Global head of Prime Services at JP Morgan. “These local capabilities
