Saturday, 23 May 2015
Last updated 16 hours 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…