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SEC releases No-Action Letter on Rule 206(4)

Thursday, 01 December 2005 21:00 The SEC responded to an inquiry from the Investment Advisers Association relating to the use of third-party ratings in advertisements. The SEC clarified that whether a third-party rating is a “testimonial” (and thus disallowed) will depend upon all of the facts and circumstances relating to the rating. Please Click here […]

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SEC releases No-Action Letter on Rule 203(b)(3)

Wednesday, 07 December 2005 21:00 The SEC responded to a series of questions from the ABA Subcommittee on Private Investment Entities regarding the landscape and application of the new amendments to Rule 203(b)(3). Significantly, the SEC addressed issues related to the 2-year lock-up exemption and issues related to the withdrawal of the Incentive/Performance Allocation by […]

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Two Charged with Insider Trading of Sirius Stock

Sunday, 18 December 2005 21:00 The SEC charged an executive vice president of Sirius as well as an outside accountant with insider trading. The two purchased Sirius stock after learning in confidence that Howard Stern received an offer from Sirius and that the parties were negotiating. The two did not admit or deny the allegations […]

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SEC Charges Veras Capital with Market Timing and Late Trading

Wednesday, 21 December 2005 21:00 The SEC announced a settled enforcement action against Veras Capital Master Fund, et al. (the Respondents) and ordered disgorgement and other fines totaling over $35MM. The SEC found that the Respondents created legal entities to hide its true identity from mutual funds in order to engage in prohibited market timing […]

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Duetsche Bank AG woos Retail Investors

Monday, 09 January 2006 21:00 Deutsche Bank AG has created two funds, the “Hedge Long-Short Equity Market Neutral Fund” and the “Hedge Long-Short Equity Opportunistic Fund”, which require only an investment of $150 each. Please Click here for more information.

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Almost 800 Investment Advisers Register Before Feb. 1 Deadline

Wednesday, 01 February 2006 21:00 On February 2, the New York Times reported that SEC had processed 714 investment adviser registrations. The Times also reported that the SEC still had to process 71 registrations. It is currently unknown whether and to what extent investment advisers failed to register with the SEC. Please Click here for […]

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2006 Outlook: Continued Increase in Demand for Hedge Funds

Monday, 06 February 2006 21:00 Institutions and Pensions are expected to continue to pursue investments in hedge funds because of the perception of the funds’ ability to produce superior returns. But this growth will be capped to the extent that ERISA regulations effectively limit the amount of assets a fund can accept from any one […]

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Hybrid Investing: Hedge Funds using Private Equity Strategies

Sunday, 19 February 2006 21:00 Many Hedge Fund managers are beginning to utilize Private Equity-like investments as part of their investment strategy. These Funds will create “side-pockets” in which the Fund will invest in illiquid private equity investments alongside the more traditional, and more liquid, securities. Such a strategy is designed in part to provide […]

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Morningstar to Deliver Hedge Fund Report-cards

Sunday, 26 February 2006 21:00 The well-known mutual fund tracking company, Morningstar, will begin to publish independent reports on hedge funds, in addition to its existing hedge fund database. While Morningstars database currently provides performance information on more than 2,600 funds, the research reports are designed to help investors determine the quality of a hedge […]

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Secondary Market for Hedge Fund Interests Beginning to Expand

Wednesday, 01 March 2006 21:00 The secondary hedge fund market is beginning to expand with such players as Hedgebay Trading Corp. Demand for such liquidity services has been rising as regulation forces some funds to adopt greater investment lock-up requirements. The demand is expected to grow as the hedge fund industry continues to expand. Hedgebay […]

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