Sunday, 29 March 2015
Last updated 1 day ago
May 21 2009 | 10:39am ET
Britain’s Serious Fraud Office is setting up a hedge-fund fraud detection system, it said yesterday.
The SFO announcement comes less than a week after it made its first arrests of hedge fund employees—Weavering Capital CEO Magnus Peterson and another employee of the firm— since the beginning of the credit crisis.
“We’re looking in particular at a system of red flags to give warnings in respect of hedge funds,” SFO chief Richard Alderman said. “We want to be able to help the market, as it recovers, in knowing what are the features of hedge funds that can give rise to fraud.”
How effective such a mechanism will be is open to question: Reuters reports that the SFO is looking at U.S. practices in intelligence gathering—using a hedge fund’s auditor and people who have worked at the firm, for example—despite the fact that U.S. regulators have proven somewhat less-than-adept at detecting hedge fund fraud.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…