From the category archives:

Press Releases

Advisors Tell SEC to Rethink Proposed Custody Rule

June 2, 2009

Overwhelming Majority of Investment Advisors Disagree with Proposed Changes to Custody Rule In an effort to deter fraudulent activity, the SEC has proposed to amend Rule 206(4)-2, also known as the ‘custody rule’, to require that all registered investment advisers with custody of client assets engage an independent public accountant to conduct an annual surprise [...]

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New Initiative to Assist in the Sale of Devalued Loans and Securities: Public Private Investment Program

June 1, 2009

Public Private Investment Program and its Regulatory Measures In a statement set forth on May 20th, 2009 before the Senate Banking Committee, Timothy F. Geithner, U.S. Secretary of the Treasury, discusses the rehabilitative financial programs and regulatory measures proposed by Congress in response to the nation’s financial upheaval and economic uncertainty.  These initiatives are introduced [...]

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Hedge Fund Administrator Charity

February 18, 2009

As described in the press release reprinted below a hedge fund administrator is providing reduced fees to clients who donate their set up fees to Hedge Funds Care, a charity which benefits abused children.  Hedge Funds Care puts on a number of events throughout the US.  The San Francisco Hedge Funds Care group will be [...]

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Hedge Fund Administrator Completes SAS 70 Type II (Press Release)

December 5, 2008

GlobeOp Successfully Completes SAS 70 Type II Examination for Second Consecutive Year LONDON, UK; NEW YORK, NY, USA – 4 December 2008 – GlobeOp Financial Services (“GlobeOp®”, LSE:GO.) today announced that, for the second consecutive year, it has successfully completed a SAS 70 Type II examination of specified middle-, back-office and fund administration controls by [...]

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Open Letter to CEOs of SEC-Registered Firms (SEC Release)

December 3, 2008

Open Letter to CEOs of SEC-Registered Firms December 2, 2008 Dear CEO of SEC-Registered Firm: During this time of financial and market turmoil, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission reminds leaders of SEC-registered firms, including broker-dealers, investment advisers, investment companies and transfer agents, of the critical role played [...]

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SEC Staff Reminds CEOs Of Registered Firms of Importance of Compliance Programs (SEC Release)

December 2, 2008

SEC Staff Reminds CEOs Of Registered Firms of Importance of Compliance Programs FOR IMMEDIATE RELEASE 2008-283 Washington, D.C., Dec. 2, 2008 — The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations today issued an open letter to chief executives of SEC-registered firms, including broker-dealers, investment advisers, investment companies and transfer agents, to remind [...]

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Hedge Fund Accounting Firm Named Tops in 2008 (Press Release)

December 2, 2008

Rothstein Kass Rated Top Accounting Firm in 2008 Hedge Fund Service Providers Survey by Alpha Magazine NEW YORK, Dec 01, 2008 /PRNewswire via COMTEX/ — CPA firm Rothstein Kass rated first among accounting firms in the 2008 Alpha Awards(TM), an annual ranking of hedge fund service providers sponsored by Institutional Investor’s Alpha Magazine. Results were [...]

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Hedge Funds Regulation – Survey Indicates More Regulation Expected

November 13, 2008

The following is a press release from Rothstein Kass. HEDGE FUND MANAGERS ANTICIPATE INCREASED REGULATION UNDER NEW PRESIDENTIAL ADMINISTRATION ACCORDING TO NEW SURVEY FROM CPA FIRM ROTHSTEIN KASS Majority of Senior Partners at U.S. Firms Expect Rising Compliance Costs Will Make Hedge Funds More Costly to Operate

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Congress to examine Hedge Fund AML Requirements Next Year

November 6, 2008

In an article yesterday we discussed the withdrawal of proposed rules which would require hedge funds to implement anti-money laundering compliance programs (see Hedge Funds and AML Requirements).  Yesterday Senator Carl Levin, a democrat from Michigan, released a statement condemning the withdrawal of proposed hedge fund AML rule by the Treasury.  Senator Levin statement said, [...]

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NFA Suspends Commodity Hedge Fund Firm

November 1, 2008

The NFA suspended the membership of SNC Investments, a firm which ran commodity hedge funds and commodity managed accounts.  The original post can be found here. For Immediate Release For more information contact: Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org NFA takes emergency enforcement action against SNC Investments, Inc. and its principal, [...]

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