Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Regulators Knuckle Down on Alts Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 16, 2013

Regulators Knuckle Down on Alts

News summary by MFWire's editors

Finra and state regulators have been keeping an eye out for mutual fund firms selling alternative strategy funds to less sophisticated investors, The Wall Street Journal James Sterngold writes. Regulators' concerns are heightened now that more average investors are flocking to alternative mutual funds and regulations on hedge fund advertising have weakened, Sterngold reports. Funds such as Fidelity [profile] are continuing to get on the bandwagon. The mutual fund firm gave clients access to an alternative fund run by hedge fund giant, Blackstone.

Sterngold reports that Massachusetts secretary of the commonwealth, William Galvin, sent subpoenas to 15 firms in July, looking for information on how the firms sell alt products to senior citizens. Massachusetts also ordered restitution from LPL Financial Holdings and Ameriprise Financial Columbia Management [profile] for selling unqualified investors non traded REITs with rates up to 7 percent and for sales that surpassed the state's limit to purchases that are 10 percent t of a customers liquid net worth, Sterngold writes.

To read more, click here.  

Edited by: Casey Quinlan


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use