Friday, 31 October 2014
Last updated 3 hours ago
Feb 19 2013 | 9:02am ET
The head of the Commodity Futures Trading Commission is concerned that banks may be helping hedge funds skirt new clearing rules designed to reduce market risk.
Chairman Gary Gensler made his worries clear in prepared testimony for a congressional hearing on the Dodd-Frank financial regulation reform law. The rule, requiring trades to be guaranteed at central clearinghouses, is to go into effect next month. But Gensler said U.S. banks may be helping U.S.-based but offshore-domiciled funds to avoid that requirement by routing trades to overseas offices.
"The CFTC is working to ensure that this idea does not prevail and develop into a practice that leaves the American public at risk," Gensler said.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.