SEC Issues FAQs on Proxy Voting
Last week the Securities and Exchange Commission’s (“SEC”) Division of Investment Management issued new guidance on proxy voting in the form of a Legal Bulletin (the “Bulletin”) containing, thirteen (13) frequently asked questions. The guidance reiterates the importance of an … Read More
A Bad Performance: NY Hedge Fund Advisory Firm Charged with False Performance Results by SEC
In the investment advisory world, a positive performance report of an investment account means everything. Unfortunately, in the case of Vineet Kalucha, the Chief Investment Officer (“CIO”) of the New York-based hedge fund advisory firm Aphelion Fund Management, the altering … Read More
Securities and Exchange Commission Publishes Draft Strategic Plan
On February 3rd, 2014, the Securities and Exchange Commission (“SEC”) released a draft version of the Strategic Plan for public comment through March 10th. The plan outlines the SEC’s strategic goals for the years 2014 through 2018.
SEC Charges Two Wall Street Traders Involved in Parking Scheme
On February 4, 2014, the Securities and Exchange Commission (“SEC”) announced charges against two traders involved in a “parking” scheme in which one trader temporarily placed securities in the other’s trading book in order to bypass a policy at his … Read More
Staying Ahead of the Curve: Technologically Evolving in 2014
Heading into 2014, the Securities and Exchange Commission (“SEC”) has stressed the importance of keeping up with technology as it constantly evolves. It is critical that firms embrace the technological advances that are available to them. These advances have given … Read More
Highlights of the SEC’s 2014 OCIE National Examination Priorities
To start the new year, the Securities and Exchange Commission’s (“SEC’s”) Office of Compliance Inspections and Examinations (“OCIE”) released its 2014 National Examination Program Priorities. The purpose of this announcement, according to OCIE, is to “communicate with investors and registrants … Read More
SEC Announces National Seminar for IA Compliance Outreach Program on January 30, 2014
The beginning of the year 2014 is upon us, and the Securities and Exchange Commission (“SEC”) has announced the date and open registration for the agency’s Compliance Outreach Program (“COP”) annual National Seminar in Washington, D.C., to be held on … Read More
Internal Control Oversights Charged to Trans-Atlantic Hedge Fund-Holding Company Partnership by SEC
In yet another case of negligence in regulatory internal controls, the Securities and Exchange Commission (SEC) sanctioned GLG Partners L.P., a UK-based hedge fund adviser, and its US-based holding company, GLG Partners Inc., with failure to implement the “proper controls” … Read More
When Is An Investment Adviser Managing Venture Capital Funds Exempt From Registration?
Many investment advisers may be aware of the exemption from Securities and Exchange Commission (SEC) registration that is available for those who manage venture capital funds. But who exactly is eligible for an exemption, and how is a “venture capital … Read More