By Bruce Johnson
An in-depth, well-researched examine a hundred hedge fund fraudsCompared to mutual money, hedge money are the James Bonds of undefined. they've been quite unfettered by way of govt law, they usually play higher video games, take larger dangers, use unorthodox equipment, and feature the ability to catch the general public mind's eye in a fashion that their lesser opposite numbers have trouble impending. straight away attention-grabbing and startling, The Hedge Fund Fraud Casebook presents readers with a large wisdom of hedge fund law via a glance on the first a hundred situations of confirmed fraud at hedge funds.Compiling concrete info on instances of hedge fund fraud, The Hedge Fund Fraud Casebook provide you with a real beginning for assessing this hard sector of risk.First entire survey of hedge fund fraud together with a hundred chronological fraud casesIncludes descriptions of every case, diagram of the participant interplay, and tables detailing monies recovered, fines paid, criminal phrases, sanctionsUseful for either person traders, quite given the final eighteen months of fraud and mismanagement between prime monetary execs and companiesThe Hedge Fund Fraud Casebook offers a hedge fund professional's examine fraud and will assist you hinder or steer clear of related frauds sooner or later. it is a important source for any hedge fund supervisor or investor.
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Extra resources for The Hedge Fund Fraud Casebook (Wiley Finance)
Sample text
Finally, Chapter 3, shows the unique structure of hedge funds how can contribute to the creation and continuation of fraud. F 1 CHAPTER 1 Historic Roots of Prohibitions against Fraud edge fund fraud is a conjunction of an ancient crime and a modern application. Fraud itself is a composite crime conjoining theft with deception. The earliest legal codes had clear proscriptions against theft (“thou shall not steal”), but a more ambiguous response to deception in general, focusing instead on false accusation (“thou shall not bear false witness”).
This act restricted their activities in three areas: restricting the use of options, contracts for differences, and naked shorts. But Barnard’s Act proved as ineffective in enforcement as the earlier Bubble Act. S. economy progressed more or less in parallel with that of England and with it so did the financial innovations and attempts to control them. Actions to combat fraud in securities advanced on two fronts: in private actions under common law and in state and federal statutes. State courts recognized the right of private actions as early as 1790.
THE SECURITIES AND EXCHANGE ACT 1934 The next important piece of legislation to be drafted was the Securities and Exchange Act of 1934. This act was initiated by yet another committee, this one established by then Assistant Secretary of Commerce John Dickinson in October 1933. Where the Securities Act addressed disclosure and issuance, the main focus of this committee was the regulation of the stock exchange and ultimately the creation of the Securities and Exchange Commission. A report was produced in January 1934.