Wednesday, 17 December 2014
Last updated 10 hours ago
Jan 14 2014 | 11:49am ET
The Securities and Exchange Commission has a new strategy for keeping hedge funds in line: holding their compliance officers responsible.
Hedge funds required to register with the regulator are also required to have a chief compliance officer. And, according to Schulte Roth & Zabel's Marc Elovitz, those new CCOs are expected to be doing their jobs.
"The SEC is being much more aggressive in charging compliance officers when there's a compliance failure," Marc Elovitz, a partner at the law firm, told The Wall Street Journal. "It puts compliance officers in hedge funds in the hot seat and puts huge pressure on these firms and their officers to have much better compliance."
Schulte Roth plans to discuss that matter and others related to hedge-fund regulation at its annual conference today.
The SEC brought several administrative proceedings against hedge-fund compliance officers last year, according to the Journal.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.