Wednesday, 1 October 2014
Last updated 52 min ago
Jun 28 2012 | 3:31am ET
Hedge funds will have to wait a little longer to begin peddling their wares like most other companies.
In April, Congress passed and President Barack Obama signed the JOBS Act. Among that law's many provisions was the elimination of an 80-year-old rule that had prevented hedge funds from advertising.
But while the law gave the Securities and Exchange Commission 90 days to write new rules to implement that provision, the regulator will miss the deadline, SEC Chairman Mary Schapiro will say tomorrow.
Schapiro will tell a House of Representatives panel that the timelines enshrined in the law "are not achievable."
"The 90-day deadline does not provide a realistic timeframe for the drafting of the new rule, the preparation of an accompanying economic analysis, the proper review by the commission, and an opportunity for public input," Schapiro said in prepared testimony.
Schapiro did say that the SEC has "made significant progress" on the new rule, adding that she thinks the regulator "will be in a position to act on a staff proposal in the very near future."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...