Category Archives: Hedge Fund Regulation
Rep. Mike McKell: Utah Is “A Hot Bed For Financial Fraud”
New York (HedgeCo.Net) – A White Collar Crime Registry has been included in the Utah Code of Criminal Procedure allowing the public to check up on traders, hedge fund managers, investment advisors and the like, the NYT reports. “Utah is […]
Connecticut Hedge Fund Controller Admits To Embezzling $9 Million
New York (HedgeCo.Net) – Lawrence Herzing, the the former controller of hedge fund Contrarian Capital Management has pleaded guilty to one count of wire fraud stemming from his theft of more than $9 million from Contrarian, Reuters reports. Contrarian Capital […]
Hedge Fund People: Norm Champ To Leave SEC
New York (HedgeCo.Net) – The SEC director that oversaw the adoption of the Volcker Rule, will be leaving the commission after a 5 year run, the SEC announced. Norm Champ, Director of the Division of Investment Management, played a key role […]
Bank Of America Dumps Hedge Funds
New York (HedgeCo.Net) -Bank of America’s shares fell 1.5% to $16.43 in trading yesterday after the bank severed ties with approximately 150 hedge funds in its prime brokerage group, The Street reported today. Bloomberg says: “The second-largest U.S. bank made the […]
F-Squared Settles ETF Case by Paying $35 Million
New York (HedgeCo.Net) – Investment management firm F-Squared Investments has agreed to pay $35 million and admit wrongdoing to settle charges that it defrauded investors through false performance advertising about its flagship product. The SEC separately charged the firm’s co-founder […]
Governor Cuomo Vetoes New Bill Expanding Pension Allotment To Hedge Funds
New York (HedgeCo.Net) – Andrew Cuomo, the Governor who banned fracking in NY state, de-criminalized the use of medical marijuana and signed same-sex marriage legislation into law, yesterday vetoed a bill that aimed to raise the amount of assets New […]
White: SEC To Focus On Asset Management Risks In 2015
New York (HedgeCo.Net) – SEC Chair Mary Jo White announced in a speech at The New York Times DealBook Opportunities for Tomorrow Conference, that she has chosen to focus on the regulation of funds and their advisers. “We are now embarking on […]
Hedge Fund Manager Launches The Amerijuana Fund
New York (HedgeCo.Net) – Former founder of the Harley-Davidson Finance Company, Stephen Denari, has left the Prairie Wellness Fund to launch a new convertible debt/equity fund. This financing vehicle will initially provide financing to winning applicants for the newly created […]
SEC Adopts Rules to Improve Systems Compliance and Integrity
New York (HedgeCo.Net) – Given the heavy reliance on technology and automated systems in the securities markets today, the impact of technology failures can be significant. The SEC voted to adopt new rules designed to strengthen the technology infrastructure of […]
California Hedge Fund Founder Denied Re-Trial
New York (HedgeCo.Net) – San Francisco hedge fund founder Doug Whitman has been denied a new trial on his insider trading case which earned him two years in jail, the WSJ reports. Whitman was sentenced in January 2013 after a […]
Goldman Dumps $285 Million In Hedge Fund Stakes
New York (HedgeCo.Net) – In order to comply with rules implementing the new Volcker regulations, Goldman Sachs announced the sale of all liquid hedge fund assets. The WSJ reports: In a filing on Wednesday, Goldman said it had sold $2.55 billion it […]
SEC Names Hedge Fund Specialist To Run It’s National Exam Program
New York (HedgeCo.Net) – Marc Wyatt has been named Deputy Director of the agency’s Office of Compliance Inspections and Examinations (OCIE). Before joining the SEC, Wyatt was a principal and senior portfolio manager at Stark Investments, a global multi-strategy hedge […]
