Monday, 22 September 2014
Last updated 12 min ago
Mar 19 2012 | 11:05am ET
The Securities and Exchange Commission is putting more feet on the ground as it seeks to crack down on illegal trading and live up to its new mandate to oversee hedge funds.
The regulator has hired 130 examiners for its Office of Compliance Inspections and Examinations over the past year-and-a-half. Many of the new hires have expertise or experience with hedge funds, which face a March 30 deadline to register with the SEC.
That office's director, Carlo di Florio said that the agency will begin a series of coordinated exams to look at several target areas: the retail sale of structured products, due diligence, and fraud in custody arrangements. But first, di Florio promised to offer the asset management industry guidance on how it will implement new rules and regulations.
The SEC plans to give hedge funds and others notice of the "challenges we are seeing and provide guidance to help them strengthen their compliance," he told a recent compliance conference held by the Investment Adviser Association.
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.