Hedge fund founder Raj Rajaratnam was found guilty on five counts of conspiracy and nine counts of securities fraud involving insider trading. This is a big victory for the government and a vindication of their aggressive use of phone taps to fight Wall Street crimes.
Friday, May 13, 2011
SEC Publishes Notice Regarding Inflation Indexing of Performance Fee Rule
The Securities and Exchange Commission today provided public notice of its intention to raise certain dollar thresholds that would need to be met before investment advisers can charge their clients performance fees. This would satisfy Section 418 of the Dodd-Frank Act which requires the SEC to issue an order to adjust these dollar thresholds for inflation by July 21, 2011 and every five years thereafter.
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