investment industry

TD AMERITRADE appoints new risk management officer

September 29, 2009 - 10:17am | Investment industry | News

TD AMERITRADE Holding Corporation has appointed David Kimm as the Company’s chief risk officer. Kimm joins the company in October and will work with the Company’s various business units to help identify and manage the company’s credit, market and operational risks, as well as overseeing the firm’s regulatory compliance and audit functions.

Financial Services | investment industry | risk management | TD AMERITRADE

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Hedge funds industry reviving with more money coming than before the crisis

September 17, 2009 - 9:31am | Investment industry | News

Martin Currie, a Scottish fund firm, says that investors seem to return to the sector as customers have put more money into its hedge funds at a faster rate than before the credit crisis, according to Reuters’ report. Between October and June net client outflows made up $300 billion and now there are signs of the market recovery.

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Investment industry expects big inflows into Asian hedge funds in third quarter

June 15, 2009 - 8:54am | Investment industry | News

As investors confidence is returning may experts think that Asian hedge funds will have more inflows in the third quarter. Both Western and Asian hedge funds suffered heavy redemptions since Lehman Brother's collapse in September and the largest scandals in investment industry elated to Madoff and others undermined the trust to the industry.

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JetProfit.Biz walked away to preserve its own capital

May 20, 2009 - 2:50am | Investment industry | News

JetProfit.Biz, a program established in June 2008 assured all the users that it is a slave to the principle of 'Preservation of Capital" and that old premise that "he who walks away gets to play another day", has never had more relevance. However it appeared to be that the company thinks only about the preservation of its own capital and that is why it decided to walk away to get paid immediately. On May 7, 2009 the lucky users managed to get their payouts. Currently the site is down.

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Derivatives market will no longer be uncontrolled? Geithner wants overhaul

May 14, 2009 - 6:39am | Law aspects | News

New regulation of the financial system was proposed to the U.S. Congress in a two-page letter sent Wednesday by Treasury Secretary Timothy Geithner. The letter shows that the Obama administration wants the lawmakers to extend its oversight of the financial industry to include market of derivatives, the kind of complex financial instruments that helped bring down the giant insurer AIG.

derivatives market | investment industry | Timothy Geithner | Treasury | U.S. Congress

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25 top hedge fund managers earned $11.6 billion in 2008

March 25, 2009 - 9:49am | Investment industry | News

At the times of turbulence in the financial markets and a global economic crisis, the 25 top-earning hedge fund managers of the world have in total collected $11.6 billion last year, as found by Alpha magazine.

The annual ranking conducted by the magazine showed that on an average, one of those managers has raked $464 million.

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Texas famous Dick DeGuerin may represent Allen Stanford in the court

March 25, 2009 - 4:01am | Fraud | News

Since last month when the Securities and Exchange Commission charged Allen Stanford with running an $8 billion Ponzi scheme the alleged scammer hasn’t had a full-time lawyer representing him. According to the latest reports by the Register there are some speculations that high-powered Houston attorney Dick DeGuerin is viewed as a potential candidate.

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Madoff precedent urges the need to create International Financial Court

March 10, 2009 - 3:28am | Law aspects | News

As reported by Reuters a dedicated coalition of lawyers that formed their association in regards to the purported $50 billion fraud of once-respected Wall Street trader Bernard Madoff are calling for the creation of a new international instance to deal with the legal issues precedent of which was established by the Madoff investment business.

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New funds with lower fees to be launched by Citadel

March 6, 2009 - 7:08am | Investment industry | News

The Wall Street Journal reported that a number of new funds will be rolled out by the U.S. hedge fund Citadel investment Group LLC. Among these the firm will also offer one with lower fees that will aim to make money on currencies, interest rates and other trades based on broad economic trends.

Citing marketing documents the WSJ advised that the Citadel expects to raise $2 billion in coming months and could raise $5 billion for its new Citadel Global Macro Fund Ltd

Additionally, the company plans to start a marketing campaign to promote a fund focused on stocks and another focused on convertible bonds.

Citadel Investment Group | currency exchange | hedge fund | interest rate | investment industry

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The U.S. authorities sued by Stanford investors for freezing assets

March 5, 2009 - 3:38am | Law aspects | News

A clutter around Stanford’s case is increasing as the Stanford Group’s account holders file a lawsuit against the U.S. Securities and Exchange Commission, the U.S. Marshals Service and Stanford's court-appointed receiver Ralph Janvey. The filing states that the government has no right to seize and freeze the assets of the bank clients.

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A hearing over a conflict of interest in Madoff case postponed

March 4, 2009 - 9:36am | Articles | Law aspects

A judge postponed a hearing that should be held on Wednesday over a potential conflict of interest involving Ira Sorkin, a lawyer of accused swindler Bernard Madoff, reports Reuters. No new date was set for the hearing and no reasons were given though both U.S. prosecutors and Sorkin consented to it. The hearing was called at the request of U.S. prosecutors over a potential conflict of interest for Sorkin in his representation of two accountants in a 1992 case brought by the U.S. Securities and Exchange Commission.

-1 points

David Copeland Reed, a founder of OSGold Ponzi scheme was arrested

February 26, 2009 - 9:25am | Fraud | News

On Tuesday this week U.S. authorities arrested David Copeland Reed, 38, who was accused of running a multimillion-dollar Ponzi scheme he founded known as OSGold as reported in court-documents. About seven years ago his operation was shut down and he himself escaped to Mexico with users’ money.

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Judge trial does not prevent Madoff from further filching

January 9, 2009 - 4:11am | Fraud | News

U.S. prosecutors said on Thursday said that accused Ponzi scheme mastermind Bernard Madoff was trying to disperse his assets among his family and relatives. The authorities found checks totaling more than $173 million in his office desk ready to be sent out before his arrest. The prosecutors asked the court to imprison the fraudster.

investment industry | Madoff | Ponzi scheme | U.S. court

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Madoff's investors may stay calm, the money won't come back

January 5, 2009 - 5:31am | Fraud | News

Victims of Bernard Madoff's investment business which is a giant Ponzi scheme in the history will unlikely see their hard earned money back, at least in those amounts they funded into the scam financial pyramid. The investigation along with the litigation led by the government and lawyers will bear little results and some experts believe that the final outcome will be similar to those in case with Bayou Group hedge fund, WorldCom and Adelphia Communications.

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