Hedgebay Trading Corp is seeing a rise in demand in the secondary market for hedge fund interests. Demand for liquidity services has been rising as regulation forces some funds to…
Read MoreThe 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…
Read MoreThe 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…
Read MoreThe 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…
Read MoreThe 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…
Read MoreThe 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…
Read MoreA 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…
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