Sunday, 10 March 2013 09:15 On February 21, 2013, the U.S. Securities and Exchange Commission (“SEC”) released its examination priorities for the 2013 calendar year. The priorities were published by the SEC’s Office of Compliance Inspections and Examinations and are intended to convey to investors and registrants the areas that the SEC perceives to be […]
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CFTC Freezes Hedge Fund’s Assets
Tuesday, 21 June 2005 21:00 A Pennsylvania federal court froze the assets of Philadelphia Alternative Asset Management Company, LLC (PAAM), a commodity pool operator, and Paul Eustance. The CFTC alleged that PAAM and Eustance, who managed PAAM, fraudelently solicited propsective pool participants. Specifically, PAAM and Eustace, according to the CFTC’s complaint: issued false statements to […]
SEC Re-Adopts Independent Chairman Rule
Tuesday, 28 June 2005 21:00 The SEC re-adopted rules requiring investment companies to have independent chairman. The SEC rule requires 75% of the board of an investment company to be independent and the Chairman of the Board to be independent. The SEC action comes after the U.S. Court of Appeals for the District of Columbia […]
SEC will Release Soft Dollar Guidance for Money Managers
Tuesday, 20 September 2005 21:00 SEC Commissioner Cox announced today that the SEC will publish an interpretive release to provide guidance to money managers who pay “soft dollar” commissions. The interpretive release will outline when it is legal to use customers’ brokerage commissions to pay for “something else” besides brokerage, without violating their fiduciary duty […]
Comments Sought on Proposed CFTC Rule
Tuesday, 27 September 2005 21:00 The U.S. Commodity Futures Trading commission (CFTC) announced today that it is solicitng public comment on a proposed rule that would define the term “client” of a commodity trading advisor (CTA) and confirms the CFTC’s anti-fraud authority over all CTAs, irrespective of whether they provide advice on a personalized or […]
Bayou Charged by CFTC with Misappropriation and Fraud
Wednesday, 28 September 2005 21:00 The U.S. Commodity Futures Trading commission (CFTC) filed a compaind against Bayou Management, LLC, a Hedge Fund manager located in Connecticut. The complaint alleges that Bayou violated the Commodity Exchange Act’s (CEA) anti-fraud and false reporting provisions. Bayou allegedly committed a slew of violations including: misappropriation of customer funds; acquiring […]
SEC, NASAA Announce IARD System Fee Waiver
Thursday, 06 October 2005 21:00 As a result of a surplus generated from IARD fees, the SEC and the NASAA announced a one-year waiver of certain IARD fees for IAs and IARs. The fee waiver applies to all Form ADV annual updating amendments filed by SEC-registered advisers from November 1, 2005 through October 31, 2006. […]
SEC releases proposed interpretation of Soft-Dollar Safe-harbor
Tuesday, 18 October 2005 21:00 The SEC released proposed interpretive guidance on acceptable “soft dollar” payments by money managers to broker-dealers (Section 28(e) of the Exchange Act). The decision to revise previous interpretations was designed to curtail some of the overly aggressive soft-dollar practices. The interpretive release makes clear that soft dollars may only pay […]
SEC conducts first CCO outreach seminar
Monday, 07 November 2005 21:00 The SEC today sponsored its first outreach seminar for Investment Adviser and Investment Company Chief Compliance Officers. The agenda for the seminar can be reached at the link below. Please Click here for more information.
SEC posts comments on Soft-Dollar interpretive release
Thursday, 24 November 2005 21:00 The SEC has posted the comments it has received regarding Release 34-52635. Comments were submitted by investment institutions, regulatory associations, law firms, investors and students. Please Click here for more information.