The Securities and Exchange Commission (SEC) task force on hedge funds, buyout funds and mutual funds is looking to hire five fund managers, chief operating officers or executives with "direct exposure to trading and operations,"according to a help-wanted ad it placed last month. The SEC has also retained executive search firm Korn/Ferry International.
Following the SEC¹s failure to detect Bernard Madoff's fraud, the SEC named Robert Khuzami enforcement director and has begun cracking down on structured instruments through revisions to Regulation AB and on hedge funds through a proposed large trader reporting system.
"There's been a lot of soul-searching within the enforcement division and the agency about what is the best way to identify and catch misconduct as early as possible," Robert Kaplan, co-chief of the SEC hedge fund task force, told Bloomberg News. "Normally, law enforcement is inherently reactive."
The SEC realizes that with a salary of only about $200,000, it will have a hard time recruiting a hedge fund manager at the top of their game and, thus, is hoping to find someone near retirement interested in public service.
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Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24