Tuesday, 23 September 2014
Last updated 14 hours ago
Jul 10 2007 | 1:46pm ET
It’s been a year since Bulldog Investors’ Phillip Goldstein won his battle with the Securities and Exchange Commission over its hedge fund registration requirement, and, the SEC’s hopes notwithstanding, hedge funds are voting with their feet. About 500 fewer hedge funds are registered with the regulator today than were one year ago—a 21% decline. The Commission had expressed hope at the time of the Goldstein decision that hedge funds would choose to remain registered even though the requirement had been struck down.
SEC spokesman John Nestor said there are 1,977 hedge funds currently registered with the agency. Last year, the figure was roughly 2,500.
In 2004, then-SEC Chairman William Donaldson pushed the requirement through the commission with the support of its two Democratic members in the face of the virulent opposition of his two fellow Republicans. Last June, the U.S. Court of Appeals in Washington, D.C., rejected the move, saying the SEC had overstepped its authority. Efforts in Congress to specifically empower the SEC to register hedge funds have thus far failed to win enough support to become law.
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.