Friday, 25 July 2014
Last updated 19 min ago
Sep 17 2013 | 11:29am ET
The U.S. Securities and Exchange Commission is taking its new hedge-fund examinations on the road.
The regulator plans to inspect more than a dozen SEC-registered hedge funds in London this week, The New York Times reports. The overseas visits are authorized by the Dodd-Frank financial reform law.
In advance of its inspectors' arrivals, the SEC has asked several London hedge funds for a large amount of information, including personal trading records, e-mails and instant messages.
While none of the hedge funds to be visited are suspected of any wrongdoing, they are being targeted for a reason: The SEC is singling out firms with a high number of retail investors, those it fears may not be complying with U.S. rules and those employing managers who have worked at funds with compliance issues in the past.
The sweep is striking some fear in Mayfair. Indeed, one British hedge fund is mulling the closing of its European event-driven strategy to avoid getting caught up in the sweep.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…