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The US Securities and Exchange Commission has instituted public administrative and cease-and-desist proceedings against Thrasher Capital Management and its chief executive officer and managing member, James Perkins.
The proceedings were instituted because (i) Thrasher, a SEC-registered investment adviser, failed to make available to the SEC the books and records that Thrasher was required to make available under Section 204 of the Advisers Act and (ii) Thrasher’s Form ADV contained untrue statements of material facts regarding its client base and its ownership.
The SEC order indicates that Thrasher did not respond to the SEC examination staff to contact them, which precipitated
Gary Godel, a senior member of staff at the Jersey Financial Services Commission, has joined Comsure Compliance founder Mathew Beale as a senior consultant.
Godel was a director of the JFSC and has worked within the commission since its inception in 1998.
He also worked in its predecessor states department from 1990.
Godel worked with Beale in the funds section of the JFSC for several years where both were responsible for the evolution of the fund regulation that has evolved and led to the FSB Codes of Practice (and forthcoming funds COP) and their application.
Beale says: “We are delighted
The ongoing “competitive devaluation” in the foreign currency market has seen forex trading continue to thrive as funds seek to mitigate their risk and capitalise on ever evolving rate changes.
The foreign exchange market has seen a 20 per cent growth compared to two years previous and a recent report by the Bank for International Settlements estimates trading has now reached over USD4trn every day.
Corporate Currency Exchange Network director Nathan Bullas says: “We have seen a huge surge of interest from our corporate partners. Increased currency volatility has pushed treasury teams to focus on their portfolios and no longer
Hedge fund managers must significantly increase levels of transparency into their governance and operational structures if they are to win institutional investors’ favour for allocation of assets over traditional asset management industry providers, according to a report from PricewaterhouseCoopers.
The PwC report “Hedge fund trust & transparency: From black box to open book”, is compiled from interviews with funds, consultants, managers, administrators, regulators and industry associations.
It reveals that as hedge funds become more mainstream, institutional investors are demanding a higher level of transparency into their governance and operational structures, in order to rebuild and retain trust in the managers.
The Securities and Exchange Commission voted by a 4 to 1 majority on Friday to propose new rules to strengthen its oversight of investment advisers and fill key gaps in the regulatory landscape, notably by bringing managers of hedge funds and other alternative investments under its aegis.
The SEC’s proposed rules would implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that became law earlier this year, and that notably provide the authorisation to require advisers to hedge funds and other private funds to register with the SEC.
In 2004 the SEC introduced a controversial rule
The Alternative Investment Management Association has launched a Chinese translation of the first global hedge fund guide for institutional investors.
The Chinese version of Aima’s Roadmap to Hedge Funds was launched in Shanghai by the chairman of Aima Hong Kong and China, Christophe Lee.
The Roadmap was originally authored by Alexander Ineichen (of Ineichen Research & Management, formerly with UBS) and Kurt Silberstein of the California Public Employees’ Retirement Systems on behalf of Aima’s Investor Steering Committee. It was developed in association with the Chartered Alternative Investment Analyst Association.
The Roadmap has now been translated into Chinese with the
Saul Singer (pictured), a principal at Fusion Alternatives, the alternative investment asset manager specialising in investment diamonds, examines the current price movement of rough and polished diamonds.
Rough diamond prices continue to rise as evidenced by recent sales held by major diamond producers. Reports from the De Beers ‘sight’ held earlier this month in London point to an overall rise of three to five percent in rough diamond prices. Similar increases were seen at recent sales of BHP and Rio Tinto.
The continued increase in rough prices sent a clear message to the market by the major producers that
KBC Group has finalised the sale of its global convertible bond and Asian equity derivatives businesses to Daiwa Capital Markets for a total consideration of approximately USD1.2bn.
The amount consists of approximately USD0.2bn for staff, IT infrastructure and other assets (excluding the trading positions) and approximately USD1bn for trading positions.
The transaction allows KBC to free up capital resources for a total amount of USD0.2bn.
The acquisition, jointly announced on 5 July, forms a foundation for Daiwa’s growing derivatives business and fits within KBC’s renewed strategy to focus on its home markets in Belgium and Central and Eastern Europe and
A new study produced by HedgeFund Intelligence has found that the returns generated by onshore UCITS are broadly in line with their offshore hedge fund equivalents.
With UCITS assets in excess of USD5.6trillion and 59 per cent of managers with AUM of USD1billion or more running a UCITS platform (according to a recent Preqin report), Societe Generale has
