Tuesday, 23 September 2014
Last updated 10 hours ago
Aug 10 2011 | 10:52am ET
Massachusetts has become the first state to impose new regulations on the use of expert-networks in the wake of the Justice Department's crackdown on insider-trading.
Beginning Dec. 1, Massachusetts investment advisers, including hedge funds, will have to certify that the expert-network consultants they speak to won't provide any confidential information and lay out all "relevant confidentiality restrictions" they must adhere to.
According to Massachusetts Secretary of the Commonwealth William Galvin, whose office imposed the new regulation, it is "designed to thwart the misuse of inside information improperly obtained by these expert network consultants and ensure that information they provide was properly obtained."
Massachusetts' action follows a Justice Dept. investigation that has ensnared 14 people, including hedge fund managers. All 14 were clients of expert-network Primary Global Research, beneficiaries of information those clients received, or employees or consultants of the company. Thirteen have either pleaded guilty or been convicted.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.