Posts tagged as:

SEC

Hedge Fund Manager Registration to Cost Taxpayers $140 Million (at least)

November 17, 2009

CBO Calculates Cost of House Hedge Fund Bill
This past week the Congressional Budge Office (“CBO”) released a cost estimate of H.R. 3818, the Private Fund Investment Advisers Registration Act of 2009.  In a number of private conversations I have had about hedge fund registration over the last 9-12 months one of the issues that was [...]

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Hedge Funds and Insider Trading after Galleon

November 15, 2009

By Bart Mallon, Esq. (www.mallonpc.com)

High Profile Case Highlights Issues for Hedge Fund Managers to Consider
Insider trading is now an operational issue for hedge fund managers.  The high profile insider trading case involving RR and the Galleon hedge fund has put the spotlight directly on hedge funds again and has also sparked a debate of sorts [...]

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Insider Trading Overview

November 15, 2009

In light of the recent focus on insider trading, we are publishing the SEC’s discussion on Insider Trading which can also be found here.  The information below contains a broad overview of some of the important aspects which hedge fund managers should understand about the insider trading prohibitions.
For a greater background discussion on the legal [...]

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Public Comments on SEC Proposed “Pay to Play” Rules

November 4, 2009

SEC Proposed Pay to Play Rules Draw Many Comments
Earlier this year the SEC proposed so-called “pay to play” rules which would restrict SEC registered investment advisers from managing money from state and local governments under certain circumstances.  According to the SEC press release, “the measures are designed to prevent an adviser from making political [...]

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House Committee Votes for Hedge Fund Registration

October 27, 2009

Bart Mallon, Esq. (http://www.hedgefundlawblog.com)
Private Equity Funds Not Excluded
Today the House Financial Services Committee voted to require hedge fund managers to register with the Securities and Exchange Commission.  While private equity firms are also required to register under the proposed bill, managers to venture capital funds are excluded from this registration requirement.
The bill will next be [...]

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Hedge Fund Manager Charged with Insider Trading

October 16, 2009

SEC Brings Case Against Raj Rajaratnam
Below is another case of a hedge fund manager who was alledgedly engaged in insider trading. The SEC seems particularly excited about this cased because of the high profile nature of the manager who was involved. The major charge is against Raj Rajaratnam who reportedly has a net [...]

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OTC Derivatives Markets Act of 2009 Passes House Committee Vote

October 15, 2009

CFTC Chairman Gensler Applauds “Historic Progress”
In a first step towards increased regulation of the over-the-counter derivatives markets, the House Financial Services Committee approved the Over-the-Counter Derivatives Markets Act of 2009.  The act is one of several initiatives to increase regulatory oversight of the financial markets and if passed by Congress would be signed into law [...]

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Hedge Fund Investors to Sue SEC

October 14, 2009

SEC’s Madoff Failure Cited in Lawsuit
Just a quick note that the New York Times has written an article about two Madoff investors who are suing the SEC for not doing its job.  It will likely be a tough case for the investors/plaintiffs to prevail upon because of the doctrine of sovereign immunity (i.e. government agencies [...]

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Hedge Funds and Insider Trading

October 10, 2009

Hedge Fund Manager/Trader Settles Charges with SEC
Insider trading cases pop up every now and again and most cases do not warrant highlighting - post-Boesky everyone in the securities industry is well aware that trading on inside information is illegal.  However, it warrants emphasis that the SEC will crack down on hedge fund managers or traders [...]

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Section 13(d) Filings and Section 13(g) Filings

September 20, 2009

Section 13(d) of the Securities Act of 1934 requires any person who beneficially owns 5% or more of a class of equity securities of a publicly traded company to file a report with the SEC within 10 days of reaching the 5% ownership threshold.  SEC Rule 13d-1 provides more detailed guidance on the reporting requirements.
Generally [...]

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