January 31, 2011

SEC Begins to Release Monthly Shadow Pricing Information About Money Market Funds

Money market funds’ shadow pricing information is now available on the SEC’s web site.

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January 28, 2011

SEC Charges Hedge Fund Manager with Fraudulent Misuse of Investor Assets

The SEC has charged a Stamford, Connecticut-based investment adviser and its principal, Francisco Illarramendi, with misappropriating at least $53 million in investor funds and used the money for self-dealing transactions.

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January 27, 2011

ICI Files Comment Letter on Proposed Changes to Form ADV and Amendments to Pay-to-Play Rule

The Investment Company Institute (the “ICI”) filed a comment letter addressing the SEC’s proposed changes to Form ADV and amendments to the pay-to-play rules.

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January 27, 2011

SEC Charges Former Hedge Fund Trader with Insider Trading

The SEC charged Michael Cardillo, a former trader at the hedge fund investment adviser Galleon Management, LP, with insider trading for trading ahead of September 2007 announced acquisition of 3Com Corp., and November 2007 announced acquisition of AxcanPharma Inc.

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January 27, 2011

SEC Publishes Study on Access to Information About Investment Professionals

The SEC has published a staff study (the “study”) recommending steps to help investors better access information about investment professionals.

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January 27, 2011

Askari Foy Named Associate Regional Director for Examinations in SEC Atlanta Regional Office

The SEC announced the promotion of Askari Foy to Associate Regional Director for Examinations in the its Atlanta Regional Office.

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January 27, 2011

SEC to Combine Broker-Dealer and Investment Adviser Search Feature on its Web Site

In a study, the SEC recommended that the FINRA's BrokerCheck website and the Investment Adviser Public Disclosure (“IAPD”) website be modified so that investors can simultaneously search both databases and receive unified search results.

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January 26, 2011

SEC Charges Former Galleon Portfolio Manager with Insider Trading

The SEC charged Adam Smith, a former portfolio manager of the Galleon Emerging Technology funds (f/k/a the Galleon Communications funds) (“Galleon”), with engaging in insider trading in the securities of ATI Technologies, Inc.

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January 25, 2011

SEC Answers Questions About Information Filed on Form N-MFP

The SEC staff posted a series of questions and answers on the availability of information filed by money market funds on Form N-MFP.

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January 24, 2011

SEC Charges Investment Adviser With Short Selling in Connection With a Public Offering

The SEC charged Horseman Capital Management, L.P. (“Horseman”), a London-based investment adviser with funds in the United States, with violating Rule 105 of Exchange Act Regulation M (“Rule 105”).

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