Firm Launched Hedge Fund Fraud Risk Certification

Jun 1 2009 | 9:01am ET

The investment industry's first hedge fund fraud risk certification has been launched by Protean Fraud Risk Appraisal, an independent risk certification firm specializing in the alternative investment sector.

Protean Fraud Appraisal Certification (PFAC) provides hedge funds and other managers with the means to demonstrate that their fund represents a low fraud risk, thereby bringing renewed confidence to investors. PFAC combines the disciplines of insurance risk underwriting with traditional due diligence techniques and a proprietary historic fraud loss analysis tool.
 
Protean Fraud Risk Appraisal is an affiliate of Protean Investment Risks, which specializes in the provision of insurance products to protect investors against hedge fund fraud.
 
"The priority at this time for managers and investors alike is confidence. PFAC enables hedge fund and other managers globally to provide evidence that they are a low fraud risk bringing increased confidence to both new and existing investors,” said Nathan Sewell, a partner at Protean Fraud Risk Appraisal. “PFAC is highly cost-effective and requires a minimal time investment by the hedge fund manager.”
 
The certification's due diligence includes on-site visits and background checks using specialist providers to cover the UK, the U.S. and other regions.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...