California Employment Regulators Issue Four Important Actions

California’s regulatory agencies have issued four important actions in the past two months: (i) a set of final regulations establishing employers’ obligations concerning harassment and discrimination prevention; (ii) a proposed set of regulations limiting employers’ use of criminal history in hiring, promotion and other employment decisions; (iii) a regulatory “guidance” concerning the rights of transgender […]

CFTC orders Citibank to pay $250M for attempted manipulation, false reporting

The US Commodity Futures Trading Commission is settling charges against the bank for attempted manipulation and false reporting. The Commodity Futures Trading Commission on Wednesday ordered Citibank to pay $425 million to settle charges including attempted manipulation and false reporting of several key currency-valuation benchmarks. The regulators said $250 million in the settlement relate to […]

Long Ridge leads $35 mln investment in Carson Group Holdings

Long Ridge Equity Partners led a $35 million minority investment in Carson Group Holdings, a provider of wealth management services. Jim Brown and Kevin Bhatt of Long Ridge will join Carson’s board of directors. In addition, Carson Wealth Management Group and Peak Advisor Alliance are reorganizing under a new parent company, Carson Group Holdings. Press […]

Launching a Hedge Fund in 2016: An Overview for US Managers

Despite a challenging environment for the hedge fund industry, many institutional investors continue to allocate to hedge funds in a market environment otherwise devoid of promising investment opportunities. While the hedge fund industry saw net outflows in the first quarter of 2016, the $3.13 trillion in global hedge fund assets under management continues to attract […]

FXPA responds to CFTC, supports buy-side view of Forex derivatives

The Foreign Exchange Professionals Association (FXPA) submitted written comments yesterday in response to the Commodity Futures Trading Commission’s (CFTC) Market Risk Advisory Committee (MRAC) meeting held to look at how well the derivatives markets are functioning. The MRAC meeting focused on the impact and implications of the evolving structure of derivatives markets on the movement […]

US Commodity and Futures Trading Commission Commissioner Calls DLT Biggest Innovation in A Generation

In a recent speech to financial information and services company industry body Markit in New York, US Commodity and Futures Trading Commission Commissioner Christopher Giancarlo discussed the potential of distributed ledger technology (DLT) , which he called “…the biggest technological innovation in the financial services industry and financial market regulation in a generation or more.” […]

SEC Proposes Incentive-Based Compensation Rule: How to Determine Whether Your Firm Will Be Impacted

The SEC recently released a proposed rule (the “Rule”) with respect to the implementation of incentive-based compensation arrangements for certain “covered financial institutions” (which includes investment advisers). The Rule followed the release of a substantially similar rule issued by the Department of Treasury, Office of Comptroller of the Currency, jointly with a number of other […]

Non-U.S. Investment Crowdfunding Platforms Can Offer Securities to U.S. Investors under Current Securities Laws

As a result of the capital formation innovations advanced by the U.S. Jumpstart Our Business Startups Act (“JOBS Act”), investment crowdfunding has increasingly emerged as a viable alternative for raising growth capital in the United States. Internet-based crowdfunding securities offerings are now permissible under three separate regulatory regimes that provide exemptions from registration under the […]

What robo advisers miss for investors

Will robo-advisers fully replace human financial advisers, because they’re cheaper and more efficient? No way. And those who think so misunderstand what financial advisers do. “My clients pay me for advice, a holistic financial and retirement plan,” as well as referrals to experts in trust and estate planning, said Michael Kitces, who runs a financial […]

US BROKERS’ MONTHLY CLIENT DEPOSITS IN Q1 BELOW 2015’S LOWEST

The combined client assets of retail forex brokers in the US amounted to $510.7 million in March 2016, posting a slight decline of 1.6% compared to a month earlier, according to data published on Wednesday by the US Commodity Futures Trading Commission (CFTC). Year-on-year, the figure represents a drop of 11.8%. Client deposits include funds […]