Sunday, 21 September 2014
Last updated 1 day ago
Feb 13 2014 | 11:04am ET
Hedge fund and private-equity firms are doing pretty well in the Securities and Exchange Commission's new "presence exams."
The SEC said last week that it is issuing deficiency letters to only about half of the firms its reviewed so far. Routine exams yield deficiency letters in about 80% of cases, Ashish Ward, the SEC's exam manager in Los Angeles, told Thomson Reuters.
The "presence exams" are being conducted at the roughly 1,500 new private investment advisers required to register under the Dodd-Frank financial reform law. Such exams take less time that routine exams, but focus extensively on areas such as valuation, conflicts of interest and custody arrangements.
The SEC has conducted 250 such exams on newly-registered firms, putting it on pace to meet its goal of auditing 25% of them within two years.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.