Hedge Funds Securities & Exchange Commission

News & Analysis as of

Och-Ziff: Accountability and Internal Controls (Part IV)

There are a number of important lessons from the Och-Ziff enforcement action, some of which are related to the private equity and hedge fund industry and some of which apply across all businesses....more

FCPA Enforcement Ramping Up Against Private Equity and Hedge Funds (Part III)

The Och-Ziff settlement has now set the stage for the Justice Department and the SEC to focus its enforcement eye on the private equity and hedge fund industry. The Och-Ziff action was initiated in response to the SEC’s...more

Compensation and Benefits Insights – September 2016 #2

Hardly Water Under the Bridge: NLRB, SEC, OSHA Mount Offensive Against Confidentiality Agreements - A recent New York Times story shed light on complaints by an employee of Bridgewater Associates, a $154 billion hedge...more

Major FCPA Enforcement Action Against Nation’s Largest Publicly Traded Hedge Fund

In one of the largest FCPA settlements in history, hedge fund Och-Ziff Capital Management Group LLC (“Och-Ziff”) recently resolved a long-running government inquiry by agreeing to $413 million in financial penalties and a...more

DOJ and SEC Deliver Body Blow to Private Equity and Hedge Funds: Och-Ziff Settles FCPA Violations for $412 Million (Part I)

The Justice Department and the Securities Exchange Commission delivered a powerful FCPA enforcement message to private equity and hedge funds. Och-Ziff settled with the DOJ and SEC for total penalties of $412 million....more

SEC Charges Hedge Fund Executive Cooperman with Insider Trading

Later this year the Supreme Court is expected to hand down what may well be the most significant insider trading case in years when U.S. v. Salman, No. 15-628 (S.Ct.) is decided. The decision has the potential to end the...more

Top Ten International Anti-Corruption Developments for August 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

SEC Charges Adviser With Fraud Tied to “Death Puts”

The Commission’s enforcement division and inspectors at OCIE continue to work closely and have developed a series of cases in recent months. One of the more unusual proceeding spawned through this relationship is the action...more

The Lawyers' Lawyer Newsletter - Recent Developments in Risk Management - August 2016

Joint Clients — Confidentiality — Right to See Clients' File - New York State Bar Association Committee on Professional Ethics Opinion 1070 (10/9/15) - Risk Management Issue: In a joint client representation, if one...more

Your daily dose of financial news - The Brief – 7.27.16

We heard last week about Unilever’s $1 billion acquisition of start-up Dollar Shave Club. With a few days to reflect, the Deal Professor suggests that this relatively innocuous deal should make “every other company . . . very...more

Yet Another Congressional Proposed Corporate Reform: Proxy Advisory Firms in the Crosshairs.

Over the past six months, U.S. legislators have engaged in an unusual burst of energy to introduce three separate bills regulating various areas affecting U.S. public company corporate governance: - The Cybersecurity...more

Barred Securities Professional Charged By SEC

The Commission brought an action against a hedge fund operator who had previously been barred from the securities business and his son. The case centers on undisclosed conflicts and preferential withdrawal rights for the two...more

Regulatory Update and Recent SEC Enforcement Actions

Securities and Exchange Commission (“SEC”) Hosts National Compliance Outreach Seminar for Investment Companies and Investment Advisers In April 2016, the Office of Compliance Inspections and Examinations (“OCIE”), the...more

Your daily dose of financial news - The Brief – 6.22.16

Elon Musk is curing what ails SolarCity by having his Tesla motors company buy it—a move he’s called “obvious” [though others disagree] but which will leave him personally exposed to margin calls if the stock price for the...more

Left Swinging: Why Mickelson Went Uncharged For Insider Trading

In Depth - The Securities and Exchange Commission recently revealed details of an insider trading case against a gambler named William Walters, who allegedly engaged in insider trading based on information he obtained...more

This Man Is Dodging Wall St.

Rather than confront accusations of baseless zeal and prosecutorial overreach, New York federal prosecutor Preet Bharara would rather spend his energy dodging accountability. In 2010, Bharara launched a crusade against...more

Your daily dose of financial news The Brief – 5.13.16

We learned yesterday of the effect that broken mergers are having on some hedge funds. Now comes news that, like many other institutional investors, large US insurance companies are yanking huge sums of money out of their...more

Recent Criticisms of the SEC: Fair or Unfair?

Over the last few years, the SEC has been criticized for (1) failing to “consistently and aggressively enforce the securities laws and protect investors and the public,” (2) obtaining sanctions that amount to only a slap on...more

Private Equity and the Och-Ziff Enforcement Action

Since 2010, the Justice Department and the SEC have been “investigating” a number of private equity and hedge funds for FCPA violations. The launch of the inquiries was a big deal with lots of fanfare and focus on private...more

Your daily dose of financial news The Brief – 4.28.16

As expected, the Fed held steady on rates as it waits for the American economy and labor market to keep improving. June remains on the table for the next incremental increase, though some analysts are shifting expectations...more

Your daily dose of financial news The Brief – 4.22.16

US financial regulators dropped some much-anticipated rules yesterday that aim to restrict how “big financial institutions can pay their top executives.” In particular, the rules would make banker wait “at least four years...more

SEC - Registered Investment Advisers – Annual Compliance Requirements

As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), most private equity and hedge fund managers are required to register as investment advisers with the U.S. Securities and Exchange...more

The Ripple Effects of U.S. v. Newman Continue: SEC Lifts Administrative Bar on Downstream Insider Trading Tippee and Tipper...

The ripple effects of the Second Circuit’s landmark insider trading decision, United States v. Newman, 773 F.3d 438 (2d Cir. 2014), were felt again last week. On Tuesday, February 23, 2016, the U.S. Securities and Exchange...more

Fund Manager Annual Update

The SEC brought a record number of enforcement actions against investment advisers in 2015, resulting in approximately $4.2 billion in sanctions.1 This alert highlights current issues for private equity, venture capital and...more

Your daily dose of financial news The Brief – 3.1.16

Apple’s gained some welcome federal precedent in its battle to resist unlocking its phones for the federal government, thanks to an EDNY drug case in which federal magistrate judge James Orenstein denied the government’s...more

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