Friday, 27 March 2015
Last updated 4 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…