Dear Friends, The SEC has released a No-Action letter providing guidance on individuals who qualify as “knowledgeable employees” under Rule 3c-5 of the Investment Company Act of 1940. The Rule defines knowledgeable employee as any natural person who is an “executive officer, director, trustee, general partner, advisory board member, or person serving in a similar capacity” of a private […]
By David Drake, The Soho Loft The year 2014 will be full of change and innovation in the finance and investing landscape as many newcomers will enter the game of finance. Here are some of the changes and trends that we see for the year 2014: 1. JOBS Act SEC will try to make it clear for investors whether an […]
The Washington-based Managed Funds Association (MFA), unanimously elected John R. Torell, IV, the managing director and chief financial officer at Tudor Investment Corporation, as its Chair. As a representative of the global community of hedge fund and managed futures funds, “The new Board reflects MFA’s global membership and a commitment to continuing positive, effective outreach to regulators and policy makers.” MFA […]
Anadarko Petroleum Corporation, a BP partner, is being sued by investors for its role in the 2010 Deepwater Horizon oil spill at the Macondo well. Anadarko has over 100 hedge fund shareholders. Reuters reports: “The investors claimed Anadarko wasn’t a passive partner in the Macondo well. It “expressly approved and funded a series of extremely risky decisions made in connection […]
The hedge fund industry is regarded as one of the most appealing sectors within the financial community, drawing in talent eager to make a substantial impact. Interestingly, some hedge fund professionals have started exploring alternative assets like a bitcoin casino for recreational investments, intrigued by the anonymity and high-payout potential that cryptocurrencies offer in unregulated gambling environments. This crossover reflects […]
Seward & Kissel, the law firm that helped create the first hedge fund in 1949, announced its second annual study of New Hedge Funds in the U.S. The New Hedge Fund Study: 2012 Edition, has revealed that 64% of new funds covered by the study had equity or equity-related strategies, up 14% from the 2011 study. Of the 64% of new funds involved […]
Hedge funds have become some of the most exciting firms within the financial sector. It isn’t just the money that attracts job seekers — applicants are also drawn to the culture and fast-paced environment. Before applying for a job with a hedge fund, it’s important to know what the industry wants most when acquiring new talent. To find out, StreetID […]
As many as two-thirds of organizations are said to be ineffective or inefficient in some capacity. Sometimes the inefficiencies are brought on by laziness — other times they are the result of a massive corporate scandal. JPMorgan Chase is one of many multinational institutions that endured a scandal last year. When that happens, investors often run for the hills. But […]
Edward Lampert is one of the wealthiest people in America. He is the chairman of Sears Holding Corporation and the founder and CEO of ESL Investments, a hedge fund that is estimated to be worth more than $10 billion. Up until last year, he brought most of his wealth to Greenwich, Connecticut. That changed as soon as the state raised […]
For now and the foreseeable future, New York will continue to be the leader of the financial sector. But as we have learned, you don’t have to be on Wall Street to succeed in this industry. Evan Rapoport, CEO of HedgeCo Networks, recently lured Brett Langbert away from New York City. With more than 17 years of experience (he spent […]
When looking for work, unemployed job seekers do not have to hide their search for a new gig. More often than not, it is better to loudly tell the world that they are currently looking for work. The more people they talk to, the more doors that will be opened. On the other hand, job seekers that are still employed […]
There are few things in life that are as awful as losing a job. In addition to the loss of financial security and the independence that comes with having a job, there is a tremendous amount of stress that comes with the loss. When a new job is finally attainable, some individuals are surprised to learn that their next employer […]
There are many challenges that every job seeker must face, even after landing a job. One day every man and woman must walk over to their boss’s office and politely ask, “Can I have more money?” Obviously the question is never that simple and cannot be asked so plainly. Rather, the quest for a raise must be approached delicately, thoughtfully […]
With every new year comes a host of new challenges. In the financial sector, those challenges include an evolving job market and a growing number of people who are fighting for every job. What can a job seeker do to stand out? What skills can he or she obtain to become a stronger candidate? To find out, StreetID turned to […]
CFTC Guidance on CPO Delegation Process
Dear Friends, On May 12, 2014, the CFTC announced a streamlined approach for considering requests for no-action relief with respect to CPOs who delegate certain activities to a registered CPO (e.g. GPs of limited partnerships who delegate CPO authority to a registered investment manager). Each delegating CPO must submit a letter certifying it meets certain criteria outlined in the release. […]