The Securities and Exchange Commission (SEC) has charged a director of market intelligence at a Manhattan-based investor relations firm with insider trading ahead of news announcements by more than a dozen clients. The charges were filed against Michael Anthony Dupre Lucarelli, who garnered nearly USD1 million in illicit profits.
Dallas-based investment management firm Highland Capital Management is now compliant with the Global Investment Performance Standards (GIPS) and has been independently verified for the period of 1 January 2009 to 31 December 2013. The GIPS standards are a rigorous set of investment performance measurement principles which have been adopted in
Alternative mutual funds, also referred to as liquid alternatives or hedged mutual funds, are becoming a lot more popular with private fund managers. This has largely been driven by the requirement for hedge fund managers to register as investment advisers with the SEC. Prior to this, unregistered managers were not
The US Securities and Exchange Commission has charged three auditors for violating federal securities laws or failing to comply with standards during audits and reviews of financial statements for publicly traded companies. The actions are part of the agency’s ongoing effort to hold gatekeepers accountable for the important roles
The SEC has charged an ex-Oppenheimer & Co portfolio manager with misleading investors about the performance and valuation of a private equity fund of funds. An SEC investigation found that Brian Williamson disseminated quarterly reports and marketing materials to prospective investors misstating that the valuation of the Oppenheimer fund’s holdings was based
TPG, one of the world’s largest private equity firms, has been awarded over USD500,000 in sanctions against three hedge funds who had been pursuing unsuccessful involuntary bankruptcy petitions against two former TPG related companies. A New York Bankruptcy Court granted the award last week (18 July 2013). Law
BNY Mellon has developed a reporting solution that enables its affected alternative investment clients to prepare and file Form PF, as required by recent rules introduced by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). A joint effort of the SEC and CFTC, Form PF
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has completed the Service Organization Controls (SOC1) Type II reports for its hedge fund application hosting and managed cloud services. Following the successful completion of the SSAE16 Type II examinations in June 2012, Abacus
The Regulatory Fundamentals Group (RFG), a New York-based firm that provides business and regulatory insights for alternative funds, institutional investors and their advisers, has released FATCA Watch, a customised "issue spotting" tool to help advisers and fund managers quickly determine their exposure to the Foreign Account Tax Compliance Act.
BNY Mellon, a provider of investment management and investment services, has developed a reporting solution that enables its affected alternative investment clients to prepare and file Form PF, as required by recent rules introduced by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). A joint
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