Hedge Funds to be Subject to “Surprise Exams”
In addition to the likelihood of hedge fund registration, the SEC is now proposing to have “gatekeepers” to make sure that investment advisors are not engaged in any fraudulent behavior. When and if such a requirement is adopted, it will further burden investment advisors with more paperwork. “Surprise [...]
Credit Suisse/Tremont Hedge Fund Index Estimated to Finish Up 0.80% for January
New York, February 10, 2009 — Early estimates indicate that the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up approximately 0.80% in January, (based on 58% of assets reporting).
Faced with a barrage of weak corporate earnings and macro data in January, the [...]
Testimony Continually References Lack of SEC Funding
Yesterday the Senate Commission on Banking, Housing and Urban Affairs held a hearing on the Madoff scandal. Those providing testimony include an investor who was swindled by Madoff, two employees of the SEC and a law school Professor. While all testimony concerned Madoff to some extent, a few themes [...]
Treasury Secretary Nominee Supports Hedge Fund Registration
Last week Timothy Geithner, President Obama’s nomination for Treasury Secretary, testified before Congress as part of the confirmation process. In that testimony he stated a number of times that he was in favor of increased financial industry regulations and that he also supported hedge fund registration. It is expected [...]