{"id":9484,"date":"2008-12-24T00:00:00","date_gmt":"2008-12-24T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"ubp-wants-independent-hedge-fund-administrators","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2008\/ubp-wants-independent-hedge-fund-administrators.html","title":{"rendered":"UBP wants independent hedge fund administrators"},"content":{"rendered":"<p>Reuters &#8211; Swiss private bank Union Bancaire Privee (UBP) may pull client money out of hedge funds unless they set up independent administrators, the Financial Times said on Wednesday.       <\/p>\n<p> The Geneva-based bank, one of the world&#8217;s largest investors in hedge funds, declined to comment on the report, which cited an internal memo to instruct managers.<\/p>\n<p> Investors have blamed the absence of independent administrators as a key factor in Bernard Madoff&#8217;s success in setting up an alleged fraudulent Ponzi or pyramid scheme. Madoff was arrested earlier this month on accusations of a $50 billion fraud.<\/p>\n<p><strong><br \/><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.reuters.com\/article\/fundsFundsNews\/idUSLO21173020081224\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; Swiss private bank Union Bancaire Privee (UBP) may pull client money out of hedge funds unless they set up independent administrators, the Financial Times said on Wednesday. The Geneva-based bank, one of the world&#8217;s largest investors in hedge [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4505,4503,4497,4331,4498,4416,797,49,4496,3044,4504,4501,4502,4499,4326,4500],"class_list":["post-9484","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-absence","tag-accusations","tag-bank-one","tag-bernard-madoff","tag-client-money","tag-financial-times","tag-fraud","tag-geneva","tag-independent-administrators","tag-internal-memo","tag-investors","tag-ponzi","tag-private-bank","tag-pyramid-scheme","tag-reuters","tag-ubp"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9484","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9484"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9484\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}