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SEC Ignored Internal Madoff Whistleblower, Too

Jul 2, 2009

Since Bernard Madoff’s arrest, much has been made of Harry Markopolous, who for years tried—and failed—to get the Securities and Exchange Commission to take a closer look at Madoff’s operations. But it seems the SEC had an in-house whistleblower that it also ignored.

A lawyer in the SEC’s Office of Compliance Inspections and Examinations, assigned to look into Madoff’s relationship with hedge funds, told her supervisor that information provided by the now-convicted Ponzi schemer didn’t add up, the Washington Post reports.

Long/Short Funds Fall, Macro Funds Rise In June

Jul 2, 2009

Hedge funds posted mixed returns in June, according to the first—very preliminary—index returns.

Och-Ziff Assets Drop As Funds Rise In June

Jul 2, 2009

Och-Ziff Capital Management, which finally reversed the decline in its assets under management in May, gave back almost all of that gain in June.

Pension Adviser Settles N.Y. Kickback Case

Jul 2, 2009

New York Attorney General Andrew Cuomo has won another settlement in the pay-to-play scandal at the state’s public pension fund that has engulfed several high profile alterative investments firm.

Tahan Capital Readies Asian Credit-Focused Hedge Fund

Jul 2, 2009

Alternative asset management firm Tahan Capital Management is gearing up to launch an Asian-focused hedge fund that invests in Asian high yield/distressed securities, credit long/short, and macro strategies.

SEC Inspector General Favors New Hedge Fund Rules

Jul 2, 2009

The Securities and Exchange Commission’s inspector general says hedge funds should be forced to use independent custodians and certify that they have conducted proper due diligence.

Report: Ruth Madoff Won’t Be Criminally Charged

Jul 2, 2009

While more indictments are expected in the Bernard Madoff Ponzi scheme case, the convicted fraudster’s wife will apparently be spared.


In Depth

Bracewell & Giuliani: Obama Proposals Could Have Major Impact On Private Fund Managers

By John Brunjes and Genna Garver, Bracewell & Giuliani -- President Obama’s plan to modernize financial regulation and supervision reflects a complex and consequential policy that directly impacts private investment funds and their managers.  Most significantly, all managers of hedge funds and other private pools of capital, including private equity and venture capital funds, whose assets under management exceed some "modest threshold," would be required to register with the SEC.  More...