Category Archives: Hedge Fund Regulation
SEC Chair: 1,800 Hedge Fund Advisers Registered With SEC
New York (HedgeCo.Net) – SEC Chairman Chair Mary Jo White said that hedge fund and private equity fund managers have been charging improper fees to portfolio companies or the funds they manage. “Since the effective date of the Dodd-Frank Act, approximately […]
Dodd-Frank Wall Street Reform To Focus On Hedge Funds
New York (HedgeCo.Net) – Reuters is reporting that because of the Dodd-Frank Wall Street Reform and Consumer Protection Act the SEC is putting together a team specifically to investigate private equity and hedge funds. The Dodd-Frank Act contains more than […]
Survey: Hedge Funds Struggling to Meet SEF Regulatory Preparedness
New York (HedgeCo.Net) – With the Dodd-Frank rule becoming effective for certain swaps to be mandatory when traded on Swap Execution Facilities (SEFs), a new survey by IPC Systems finds that the hedge fund industry is underprepared to meet the requirements of these […]
USB Launches Equity Hedge Fund & Swiss Distribution System
New York (HedgeCo.Net) – Swiss banking giant UBS is launching an equity-focused hedge fund according to a WSJ report. The new hedge fund will be called Capital and Consulting Services and will be run by Michael Sales, the Global Head of Business […]
Hedge Funds Go After Bankers For “Aiding And Abetting” Petters’ Ponzi Scheme
New York (HedgeCo.Net) – A group of six hedge funds led by Ritchie Capital Management are suing J.P. Morgan, Bank of America, Wells Fargo, UBS, Merrill Lynch and 7 other entities. The hedge funds claim that the banks “aided and abetted Thomas […]
Manhattan Private Equity Manager Charged With Stealing $9 Million
New York (HedgeCo.Net) – A Manhattan-based private equity manager, Lawrence E. Penn III and his firm Camelot Acquisitions Secondary Opportunities Management, have had their assets frozen in a case put forward by the SEC. Three entities and one other person […]
SEC Issues Risk Alert For Hedge Fund Advisers
New York (HedgeCo.Net) – The SEC’s Office of Compliance Inspections and Examinations (OCIE) has issued a 10 page Risk Alert (pdf) on the due diligence processes that investment advisers use when they recommend or place clients’ assets in alternative investments […]
Oppenheimer Fund Manager Agrees to Settle Fraud Charges
New York (HedgeCo.Net) – Former Oppenheimer & Co. portfolio manager has agreed to be barred from the securities industry and pay a $100,000 penalty for making misrepresentations about the valuation of a fund consisting of other private equity funds. Last year, […]
Iceland Prime Minister Not Interested In Hedge Fund Losses
New York (HedgeCo.Net) – The government in Iceland is still refusing to speak to the hedge funds and other creditors that are trying to get their claims paid out. Bloomberg reports. Kaupthing Bank, Glitnir Bank and Landsbanki Islands defaulted on […]
Hedge Fund Regulation: Banks Get CDO Exception To Volcker Rule
New York (HedgeCo.Net) – The SEC and other federal regulars yesterday approved a rule allowing banking entities to hold on to certain CDOs. Reuters reports that this would be the first “tweak” to the new legislation known as the “Volcker rule,” […]