Friday, 9 October 2015
Last updated 11 hours 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…