West Palm Beach (HedgeCo.net) – The Cayman Islands Monetary Authority (CIMA) was formally admitted as the 189th member of the International Organization of Securities Commissions (IOSCO) at the meeting of the Presidents’ Committee at IOSCO’s 34th Annual Conference in Tel Aviv, Israel.

With the admittance, CIMA also officially becomes a party to the IOSCO Multilateral Memorandum of Understanding Concerning Consultation, Cooperation and the Exchange of Information. CIMA signed the MMOU, which is the benchmark for international cooperation among securities regulators, on 24 March 2009.

"Some countries either do not allow investment vehicles from non-IOSCO member countries to be sold in their jurisdictions or will require greatly enhanced due diligence which makes it more difficult to do business with those jurisdictions." CIMA’s Deputy Managing Director, Mr. Langston Sibblies said, "IOSCO membership will remove these impediments and open up these markets for Cayman-domiciled securities providers. This is a development our private sector has looked forward to for a long time. It will be welcomed by the private sector."

IOSCO is the principal global standard setting body for the regulation of securities markets. Its objectives encompass cooperation and information exchange, standard setting and surveillance, and mutual assistance.

Tags: 24 march, accredited-investors, admittance, cayman-islands-monetary-authority, due diligence, hedge fund, hedge funds, hedgeco, impediments, international cooperation, international-organization-of-securities-commissions, investment-vehicles, iosco, member-countries, memorandum of understanding, mutual assistance, palm-beach, securities markets, tel aviv israel, west palm beach

New York Times – To the ranks of chief executives who blame those terrible meanies who run hedge funds for their troubles — Jeffrey Skilling at Enron, say, or Jimmy Cayne at Bear Stearns, or Patrick Byrne at Overstock.com — we can now add a new name: the one and only Steve Jobs. According to Jim Goldman, who interviewed Mr. Jobs today on CNBC after his latest razzle-dazzle product announcement, the Apple chief executive said the rumors that he had suffered a recurrence of cancer came from “hedge funds with a big short position in Apple.”

Let’s quickly review the facts: In June, Mr. Jobs, who survived pancreatic cancer four years ago, appeared at an Apple developer’s conference looking gaunt and haggard. Naturally, investors worried that the cancer had returned. At first, Apple’s public relations folks lied — saying he had a common bug. Then, the company refused to say anything at all, even when asked during a conference call by an analyst. “Steve’s health is a private matter,” was the party line. 

So today, Mr. Jobs appeared on stage under a sign that read, “The reports of my death are greatly exaggerated” before plugging the latest iteration of iPods. These fairly minor product announcements got enormous attention as a result. So apparently, during marketing events at least, he is willing to put aside his privacy concerns. Interesting.

Read Complete Article

Tags: absolute-return, ashe, chief-executive, eliot-spitzer, guarantors, iphone, market-traders, member-countries