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The Financial Industry Regulatory Authority (FINRA) announced today that its Board of Governors approved rule amendments designed to limit significantly the number of dispositive motions – more commonly known as motions to dismiss — filed in its arbitration forum and to impose strict sanctions against parties who engage in abusive motions practices. These changes aim […]
The hedge fund industry is estimated to be a $875 billion business and growing at about 20% per year, with more than 8,000 active hedge funds. Most hedge funds are highly specialized, relying on the specific expertise of the manager or management team. A hedge fund manager might employ investment strategies, some of which use […]
Putting another nail in the coffin of the troubled High-Grade Structured Credit Strategies hedge fund, lenders at Bear Stearns Cos. have seized most of the fund’s collateral following its failure to meet a recent margin call. Bear’s move, which according to someone close to the situation came after more than a week of waiting for […]
Bear Stearns Cos. told investors in its two failed hedge funds that they’ll get little if any money back after “unprecedented declines” in the value of the securities used to bet on subprime mortgages. “This is a watershed,” said Sean Egan, managing director of Egan-Jones Ratings Co. in Haverford, Pennsylvania. “A leading player, which has […]
Lately, more and more seniors are hearing about opportunities to sell their existing life insurance for cash in transactions known as life settlements. A life settlement, or senior settlement, as they are sometimes called, involves selling an existing life insurance policy to a third party—a person or an entity other than the company that issued […]