Saturday, 26 July 2014
Last updated 1 day ago
Jul 9 2014 | 6:23am ET
The Securities and Exchange Commission is set to turn its wary eye on so-called alternative mutual funds.
The regulator plans to begin a set of examinations of such funds, known as a sweep, later this summer or in the fall, the head of its investment management division, Norm Champ, said last week. The SEC will focus on leverage, liquidity, compliance, valuation, governance and disclosure, he added.
The sweep will initially include between 15 and 20 fund families, Champ said.
Investors have poured billions into alternative funds in recent years, as investors shut out of traditional hedge and private-equity funds flock to mutual funds promising similar strategies.
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…