{"id":41857,"date":"2014-04-30T07:58:32","date_gmt":"2014-04-30T11:58:32","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=41857"},"modified":"2014-04-30T09:28:40","modified_gmt":"2014-04-30T13:28:40","slug":"sec-chair-1800-hedge-fund-advisers-registered-with-sec","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2014\/sec-chair-1800-hedge-fund-advisers-registered-with-sec.html","title":{"rendered":"SEC Chair: 1,800 Hedge Fund Advisers Registered With SEC"},"content":{"rendered":"

\"130124_mary_jo_white_vertical\"<\/a>New York (HedgeCo.Net) – SEC Chairman Chair Mary Jo White said that\u00a0hedge fund and private equity fund managers have been charging improper fees to portfolio companies or the funds they manage.<\/p>\n

“Since the effective date of the Dodd-Frank Act, approximately 1,800 advisers to hedge funds and private equity funds have registered with the SEC for the first time.” White said at a hearing yesterday at a meeting with the U.S. House of Representatives. “Some of the common deficiencies from the examinations of these advisers that the staff has identified included: misallocating fees and expenses; \u00a0charging improper fees to portfolio companies or the funds they manage; disclosing fee monitoring inadequately; and using bogus service providers to charge false fees in order to kick back part of the fee to the adviser.”<\/p>\n

In response to Michael Lewis’s book\u00a0“Flash Boys: A Wall Street Revolt,” in which high-speed trading is postulated to leave some investors at an unfair disadvantage, White said:\u00a0“The markets are not rigged, the U.S. markets are the strongest and most reliable in the world.”<\/p>\n

CNBC reports: “Since the book was released, the FBI, the U.S. Attorney General, New York state prosecutors and the SEC have confirmed they are investigating the practices of high-speed firms.”<\/p>\n

“Is not unlawful insider-trading.” Mary Jo White concluded.<\/p>\n

Alex Akesson
\nEditor for\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – SEC Chairman Chair Mary Jo White said that\u00a0hedge fund and private equity fund managers have been charging improper fees to portfolio companies or the funds they manage. “Since the effective date of the Dodd-Frank Act, approximately […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16025,11,12,3],"tags":[],"class_list":["post-41857","post","type-post","status-publish","format-standard","hentry","category-events","category-hedge-fund-fraud","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=41857"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41857\/revisions"}],"predecessor-version":[{"id":41884,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41857\/revisions\/41884"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=41857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=41857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=41857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}