President of MFA Issues Response to Obama’s Proposals
On June 17th, 2009, Managed Funds Association (MFA) President and Chief Executive Officer, Richard H. Baker, issued the following statement in response to the proposed financial regulatory reform proposals recently announced by the Obama Administration:
“MFA believes the proposals outlined today by President Obama and Treasury Secretary Geithner, and [...]
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 [...]
Veteran Trader Joins Emerging Markets Team
NEW YORK, May 14 /PRNewswire/ — Malbec Partners, Inc., an institutional alternative asset management platform, announced today that Costas Hamakiotes has joined their emerging markets team as Senior Trader. Mr. Hamakiotes joins Portfolio Manager Bill Geisler and Senior Research Analyst Lars Pedersen and will report to Mr. Geisler.
“We are delighted [...]
According to a hedge fund broker, the industry is likely to see a greater amount of smaller investment advisors. This will certainly be a good thing for those investment advisory compliance and law firms and will increase the amount of work that state securities divisions. Hopefully the increased fees flowing into the states will be [...]
Order Approving Association of William M. Ennis With Kellport Capital Management LLC
On March 17, the Commission issued an Order approving the application of William M. Ennis for consent to associate with Kellport Capital Management LLC, a registered investment adviser. The Order is necessary because Mr. Ennis is subject to a 2007 order of the Commission [...]
In the Matter of Stephen J. Glantz
On February 10, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Stephen J. Glantz. The Order finds that from January [...]
Recent SEC Actions Affecting Investment Advisors and the Hedge Fund Industry
In the Matter of Peter J. Dawson
On January 12, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Peter J. Dawson. The Order finds that a final [...]
The SEC announced that a Massachusetts broker, who was acting as an investment advisor at the time, defrauded a number of investors out of $2 million or more. The fraudster used the money, which was supposed to be invested in non-existent “federal housing certificates,” to buy clothes and liquor. The full release is reprinted in [...]