Hedge funds and private equity firms face profit crunch, EU states still split on regulations in Europe, aimed at enforcing restrictions on the industry.
CalPERS' Joseph Dear says emerging money managers don’t need placement agents to get hired by the fund giant; New York’s CIO Schloss takes the lead on placement agent relationships.
The US Congress and the Securities and Exchange Commission (SEC)
could be close to passing legislation and rules that will, among other
developments, eliminate flash trading and institute ‘circuit breakers’
for short-sellers, according to financial policy specialist Joseph
Engelhard.
Ohio pension funds won class action certification over allegations of accounting fraud, among others; judge ends civil charges accusing BofA of misleading shareholders when it acquired Merrill Lynch.
The US regulator's decision depends on whether the
Financial Industry Regulatory Authority (FINRA) implements strict
pay-to-play rules prohibiting activities by registered broker-dealers
acting as placement agents.