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Backstop Solutions Group, a cloud-based productivity suite for institutional and alternative investors, has appointed Michael Neuman as the company’s first chief information security officer (CISO).
As CISO, Neuman will lead Backstop’s efforts in elevating compliance standards internally, and providing strategic counsel to Backstop’s clients to help them better adhere to security by design principles across their organisations. Neuman will also be responsible for the areas of privacy and trust, helping to expand Backstop’s expertise in these evolving areas of regulation and compliance.
Neuman previously served as vice president, information security at Backstop, where he played a significant role in
As hedge funds’ compliance teams get to grips with a byzantine array of plans from market authorities on both sides of the Atlantic, wider economic and political developments are continuing to recalibrate the investment and regulatory environment.
Regulatory change in Europe is gathering pace following the pandemic, and as ESMA’s plans for enhancing AIFMD and MiFID remain on managers’ radars, the post-Brexit FCA implementation of the new IFPR may bring added headaches.
With private fund advisor rules firmly in the SEC’s compliance crosshairs, a majority of US managers say they are concerned about the regulator’s far-reaching proposals, which could bring significant operational and compliance burdens and substantially impact certain hedge fund strategies.
A survey by Hedgeweek in June shows that 50% of larger hedge funds (>$1bn) are looking to expand their internal legal and compliance teams, with 44% of smaller hedge funds (<250m) planning to increase their outsourcing of compliance functions.
Edelman has launched Edelman Smithfield, a financial communications boutique that specialises in financial markets and strategic situations, serving clients in the United States, EMEA, Asia and beyond.
Barclays has acquired a stake in crypto custody and prime broking firm Copper, according to a report by AltFi. The report cites Sky News as revealing that the investment is expected to be completed within the coming days.
Established in 2018 by Dmitry Tokarev, Copper, which counts former UK Chancellor Philip Hammond among its advisers, provides storage and crypto purchasing services es for institutional investors.
The deal is Barclays’s second investment a crypto firm this year following a co-investment with Goldman Sachs in crypto trading platform and technology provider Elwood Technologies, which was founded by British hedge fund billionaire Alan
Stouff Capital has delayed the launch of a planned global macro crypto hedge fund due to ongoing turmoil in the digital assets markets, according to a report by CityWire.
Hedge funds and other money managers bought the equivalent of 31 million barrels of in the top six petroleum futures and options contracts in the week ending 129 July, according to a report by Reuters.
Digital asset investment products saw inflows totalling $30 million last week, while late reporting of trades from the prior week saw inflows corrected from $12 million to $343 million, marking the largest single week of inflows since November 2021.
That’s according to the latest Digital Asset Fund Flows Weekly Report from CoinShares which also reveals that bitcoin saw inflows totalling $19 million last week with the prior week inflows corrected to $206 million, the largest single week inflows since May 2022.
Ethereum meanwhile, saw inflows totalling $8 million, while the corrected prior week data saw inflows totalling $120 million. These
