Tuesday, 2 September 2014
Last updated 10 min ago
Jan 4 2012 | 11:10am ET
Hedge funds aren't used to pushing for tighter regulation. But that's exactly what Och-Ziff Capital Management is doing as the Commodity Futures Trading Commission considers new collateral rules for swaps.
The New York-based hedge fund giant wants the CFTC to add additional protections for brokerage customers to the rule, which is required by the Dodd-Frank financial regulation reform act and could be adopted on Jan. 11.
According to Och-Ziff, the CFTC rule as written doesn't adequately protect clients when brokers fail to keep adequate records. The hedge fund asked the CFTC to allow swap buyers to have their collateral completely segregated from a broker's commingled funds.
The CFTC's five commissioners are likely to throw Och-Ziff and others, such as Fidelity Investments and State Street Corp., a sop, raising the possibility that future measures could give further protections, Bloomberg News reports.
The issue before the CFTC gained greater urgency—and, in the eyes of Och-Ziff and its allies, a need for more teeth—in the wake of the collapse of MF Global last year. Some $1.2 billion in client funds were found to missing when the broker filed for bankruptcy.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...