FSA
rethinks rules on hedge fund marketing 1 Jan 2006. Incisive Media
The UK Financial Services Authority's (FSA) concern that
UK retail investors can gain access to German hedge funds
via the internet is prompting the FSA to re-evaluate its current
prohibition on the marketing of hedge funds to individual
investors.
EU
Moves to Allow Marketing of Hedge Fund Indexes Reuters
European Union market regulators said they would allow indexes
that track hedge funds to be included in cross-border funds
popular with small investors, but under strict conditions.
Hedge
fund sales investigated August 17, 2005 CNN/Money
The NASD is looking into the way Wall Street's top firms are
marketing white-hot hedge funds to individuals.
Marketing
of Hedge Funds:
A Key Strategic Variable in Defining Possible Roles of an
Emerging Investment Force
Hedge
Fund Marketing by Broker-Dealers Center for International Securities and
Derivatives Markets
This article discusses the implications of heightened regulatory
attention to hedge funds by focusing on the practical questions
that are on the minds of many in the hedge fund industry and,
possibly, even in the thoughts of the regulators themselves.
Citi
Fined by NASD for Hedge Fund Marketing Prism Business Media
Citigroup has been hit with another fine, this time for improper
marketing of hedge funds. The NASD fined Citigroup Global
Markets $250,000 for sending out more than 100 pieces of sales
literature between July 2002 and June 2003, which, among other
things, improperly used hypothetical returns in charts, failed
to include adequate risk disclosure and cited potential rates
of return without underlying evidence for it.
Further
interpretive advice to members concerning the sale of hedge
funds.
When recommending a fund of hedge funds, must a member conduct
due diligence of the hedge funds in which the fund of hedge
funds invests or intends to invest?
What standards apply to the inclusion of related performance
information in marketing materials relating to hedge funds
used by members to recommend such funds?
NASD
Fines Altegris Investments for Hedge Fund Sales Violations
April 22, 2003
Washington, DC — NASD announced today that it has censured
and fined Altegris Investments, Inc. of La Jolla, California
$175,000 for failing to disclose the risks associated with
hedge funds when marketing them to investors. Some of the
firm's sales literature also contained exaggerated and unwarranted
statements about these products. NASD also censured and fined
Altegris' Chief Compliance Officer, Robert Amedeo, $20,000
for failing to adequately supervise the firm's advertising
practices in this area.
Hedge
Fund Marketing: The Third Party Marketing Association
Pros, Cons and Structuring Agreements with Third-Party Marketers
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