EU lays out first new rules to increase oversight for hedge funds, private equity funds

October 6th, 2009 Ahead of the Bell: House hearing on overhaulWASHINGTON — House lawmakers crafting legislation to overhaul the system of financial regulation are focusing on the key elements of investor protection and bringing investment funds under government supervision as they hear the views of regulators, industry officials and investor advocates. The House Financial Services Committee was scheduled to begin a hearing Tuesday at 10 a.m.

October 6th, 2009 Lawmakers split on investor-related proposalsWASHINGTON — Regulators and investor advocates voiced support Tuesday for a proposal that addresses consumer protection and would bring investment funds under government supervision as part of Congress' efforts to revamp the U.S. financial rule book.

September 4th, 2009 Questioning Madoff on the phoneThe new report by the inspector general of the Securities and Exchange Commission on the agency's failure to detect Bernard Madoff's multibillion-dollar fraud over 16 years is packed with disclosures and tantalizing details. Here, for example, is a snippet of a phone conversation in December 2003 between Lori Richards, then the director of the SEC's inspections office, and Madoff.

August 29th, 2009 Report: Cerberus investors choose to leave fundsNEW YORK — The Wall Street Journal reports that investors in the main hedge funds of New York-based private equity firm Cerberus Capital Management LP want out and are asking for the return of more than $5.5 billion, or about 71 percent of fund assets. The Journal cited people familiar with the matter.

August 25th, 2009 As more banks fail, private investors gain favorWASHINGTON — As the tally of U.S. bank failures mounts, federal regulators could be extending an embrace to private investors seeking to buy failed institutions.

July 15th, 2009 Plan would give SEC oversight of hedge fundsWASHINGTON — The Obama administration has sent legislation to Congress that would bring hedge funds and other private pools of capital under government supervision. The proposal calls for the Securities and Exchange Commission to oversee hedge, private equity and venture capital funds.

July 1st, 2009 NEW DELHI - Private sector mutual funds are likely to outperform state-owned funds for the sixth consecutive year, accounting for over 78 percent of the mutual fund market till May 31, says a report. "The market share of PSU mutual funds in the overall aggregate AUM (assets under management) has fallen sharply from 71.77 percent to 21.59 percent during the period between years 2000 and 2009," according to a survey by brokerage firm SMC Capitals.

June 29th, 2009 UK fund manager settles US market-timing caseWASHINGTON — A London-based hedge fund manager and its chief investment officer have agreed to a nearly $18 million settlement resolving U.S. regulators' allegations that one of its funds defrauded U.S.

June 11th, 2009 Volcker says US growth possible this yearBEIJING — Global financial markets are starting to heal and the U.S. economy could begin to grow again this year, but a strong recovery is unlikely, said President Barack Obama's top adviser Paul Volcker.

May 12th, 2009 Lawyer pleads guilty to huge fraudNEW YORK — A Prominent Manhattan lawyer has pleaded guilty to defrauding hedge funds of more than $400 million. Fifty-eight-year-old Marc Dreier on Monday pleaded guilty to conspiracy to commit securities and wire fraud, securities fraud, wire fraud and money laundering.

April 30th, 2009 Officials tell AP Chrysler will file bankruptcyWASHINGTON — Officials tell the AP that Chrysler will file for bankruptcy as talks with creditors fail. The No. 3 U.S. automaker faces a government deadline of 11:59 p.m.

April 30th, 2009 Officials tell AP Chrysler will file Chapter 11WASHINGTON — Officials tell the AP that Chrysler will file for bankrutpcy protection as talks with creditors fail. The No. 3 U.S. automaker faces a government deadline of 11:59 p.m.

April 27th, 2009 Nearly 20 pct of Asia hedge funds close since '08HONG KONG — Almost 20 percent of Asia's hedge funds closed shop since the start of 2008 as a wave of investor redemptions and sharp losses amid the financial crisis took a heavy toll on the region's once high-flying industry, a new survey said Monday. At least 129 funds were shuttered in 2008 and 17 more in the first quarter of 2009, a study by London-based AsiaHedge magazine said.

March 6th, 2009 CHENNAI - Tamil Nadu-based Grama Vidiyal Microfinance Ltd (GVM) is in talks with private equity funds to raise Rs.500 million (Rs.50 crore) to fund is proposed expansion that includes setting up branches in neighbouring states and recruiting around 700 people, a top official said. 'We will be expanding into neighbouring states like Karnataka and Kerala setting up branches there.

February 8th, 2009 KOLKATA - Private equity (PE) firm India Value Fund Advisors will complete raising around $800 million (about Rs.40 billion/Rs.4,000 crore) for the fourth series of its India Value Fund by next month, a partner of the company said here Monday. 'The fund is being raised mostly from overseas investors comprising fund-of-funds backed by financial institutions, endowment funds backed by educational institutions, pension funds, sovereign funds and also HNIs (high net worth individuals) across Asia, the US and Europe,' George Thomas, partner at the PE fund, told reporters on the sidelines of a seminar on funding strategies.