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Churning is the practice of executing trades for an investment account by a salesperson or broker in order to generate commission from the account. It is a breach of securities law in many jurisdictions, and it is generally actionable by the account holder for the return of the commissions paid, and any losses occasioned by the broker's choice of stocks.
Event-driven investing or Event-driven trading is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff. In more recent times market practitioners have expanded this definition to include additional events such as natural disasters and actions initiated by shareholder activists. However, merger arbitrage remains the best-known investment strategy within this group.
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Proskauer Rose LLP is an international law firm headquartered in New York City. The firm was founded in 1875 and currently employs more than 800 attorneys in twelve offices worldwide.
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. The U.S. government agency that acts as the ultimate regulator of the U.S. securities industry, including FINRA, is the U.S. Securities and Exchange Commission (SEC).
Liongate Capital Management was a global investment management firm, focused on creating and managing fund of hedge fund investments for institutional and private investors. Liongate, founded in 2003 by Jeff Holland, Ben Funk and Randall Dillard, managed a range of funds of hedge funds in both commingled funds and tailored, single client portfolios. The firm, which at it peak managed over USD 3 billion with an additional USD 4 billion in assets under advisory, had a global reach with offices in London, New York, Zurich, Dubai, Malta and Mumbai. The Liongate partners sold the firm to Principal Financial Group in 2013 as the large US insurer and asset manager wanted a hedge fund research platform in order to quickly ramp up retail hedge fund distribution in the US.
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Man GLG is a discretionary investment manager and a wholly owned subsidiary of British alternative investment manager Man Group plc. It is a diversified and multi-strategy fund manager that operates strategies including equity long-short funds, convertible arbitrage funds, emerging market funds and long-only mutual funds. The firm is also a founding member of the Hedge Fund Standards Board and a signatory of the Principles for Responsible investment. As of 2022, Man GLG had $35.4 billion assets under management.
Preqin is a privately-held London-based investment data company that provides financial data and information on the alternative assets market, as well as tools to support investment in alternatives. By the company's own definition, its data encompasses private capital and hedge funds, including fund, fund manager, investor, performance and deal information. The asset classes it covers are: private equity, venture capital, hedge funds, private debt, real estate, infrastructure, natural resources and secondaries.
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Cohen & Gresser LLP is an international law firm with offices in New York City, Paris, Washington D.C., and London. The firm represents clients in complex litigation and corporate transactions throughout the world. Founded in 2002, the firm has grown to seventy lawyers in eight practice groups: Corporate; Employment; Intellectual Property & Technology; Litigation and Arbitration; Privacy and Data Security; Real Estate; Tax; White Collar Defense. The firm's clients include Fortune 500 companies and major financial institutions across a broad spectrum of industries throughout the world, and it has litigated and negotiated against some of the nation's largest law firms. Among Cohen & Gresser's clients are Goldman Sachs, Samsung Electronics, LG Electronics, Chesapeake Energy, Hyundai Rotem, Southwest Airlines, Bank of America, L’Oréal, and Ghislaine Maxwell.
Blue Harbour Group was an American investment firm that managed capital for pension funds, endowments, sovereign wealth funds, labor unions and other institutional investors. The company was based in Greenwich, Connecticut.
Eaton Partners is a global placement agent that assists in raising capital for funds managed by some of the largest private equity firms, hedge funds, real assets and real estate funds in the world. The firm is also one of the oldest placement agents in the private funds industry. Eaton Partners raises capital primarily from institutional investors including private and public pension funds, endowment funds, family offices, fund of funds, foundations and other large pools of money that invest in alternative asset classes.
Armstrong Investment Managers LLP, a.k.a., AIM, is a global investment management firm that invests in public equity, fixed income, and alternative investment instruments globally.
Fusion Asset Management LLP is an asset management firm based in central London specialising in managing volatility risks and risk hedging. Established in 2004 by Kirill Ilinski, a former JP Morgan trader, Fusion nowadays is a group of companies managing around £1 billion across a variety of volatility-related funds and advisory services.
Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities. Investors buy and sell through broker-dealers and have their assets retained by either their executing broker-dealer, a custodian bank or a prime broker. These transactions take place in the environment of equity and equity options exchanges, regulated by the U.S. Securities and Exchange Commission (SEC), or derivative exchanges, regulated by the Commodity Futures Trading Commission (CFTC). For transactions involving stocks and bonds, transfer agents assure that the ownership in each transaction is properly assigned to and held on behalf of each investor.
Ron S. Geffner is an American attorney and former U.S. Securities and Exchange Commission enforcement lawyer. Geffner is a founding partner of Sadis & Goldberg, where he heads Financial Services Group providing legal counsel to over 800 funds including domestic and international financial institutions, family offices, hedge funds, venture capital and private equity funds. Geffner was previously in-house counsel to the Investment Management Industry Services Group of PricewaterhouseCoopers.
Martin P. Russo is an American trial lawyer of Sicilian and Cuban heritage from New York. He handles complex business litigation in state and federal courts throughout the United States, and other matters pending in administrative and alternative dispute resolution forums. He has handled bet-the-company litigations, complicated commercial disputes, financial services litigation, regulatory defense, white collar defense, corporate compliance and internal investigations for publicly held and private companies in the United States and abroad.
References
- ↑ "Bloomberg Company Overview of Sadis & Goldberg LLP". Bloomberg . Retrieved 27 January 2017.
- ↑ "We Practice Law. But We Live Business". Sadis & Goldberg. 10 May 2008. Retrieved 2017-01-12.
- ↑ "Sadis & Goldberg LLP - Best Global Law Firm". Hedge Week. Retrieved 27 January 2017.
- ↑ "2016 Preqin Global Hedge Fund Report". Preqin . Retrieved 27 January 2017.
- ↑ "2016 Hedge Week Hedge Fund Report". Hedge Week . Retrieved 22 July 2022.
- ↑ sglawyers.com, Retrieved January 27, 2017.
- ↑ prnewswire.com, Retrieved January 27, 2017.
- ↑ "Citi Sells Fund of Funds Unit to SkyBridge". New York Times . April 14, 2010. Retrieved January 18, 2017.
- ↑ "Citigroup to sell funds units to SkyBridge Capital". Reuters. April 14, 2010. Retrieved January 18, 2017.
- ↑ "Sadis & Goldberg Wins 195% Above Merger Price for Cashed-Out Orchard Stockholders". PR Newswire. September 24, 2014. Retrieved January 18, 2017.
- ↑ "Sadis & Goldberg Wins Appraisal Rights Trial Verdict Awarding Its Client Over Two Times The Value of the Merger Price". NYSE Securities Arbitration. March 14, 2014. Retrieved January 18, 2017.
- ↑ "195% Above Merger Price for Cashed-Out Orchard Stockholders". Sadis & Goldberg. September 24, 2014. Retrieved January 18, 2017.
- ↑ "Delaware Court of Chancery provides guidance on standards of review and remedies applicable in controlling stockholder take-private transactions". Clifford Chance. March 14, 2014. Retrieved January 18, 2017.
- ↑ "Ex-Wells Fargo Analyst Settles Insider Trading Case". law360.com. May 28, 2018. Retrieved January 18, 2017.
- ↑ "Sadis & Goldberg Wins FINRA Arbitration Award Against Interactive Brokers". www.nysecuritiesarbitration.com. February 10, 2015. Retrieved January 31, 2017.
- ↑ "Sadis & Goldberg Wins FINRA Arbitration Award Against Interactive Brokers". whttps://golden.com/wiki/Galaxy_Digital_Assets-9D5VXZ. February 10, 2015. Retrieved January 31, 2017.
{{cite news}}: External link in|publisher= - ↑ "Hedgeweek USA Awards 2016 "Best North American Law Firm"". HedgeWeek. September 19, 2016. Retrieved January 18, 2017.
- ↑ "Hedgeweek USA Awards 2016 - The Winners" . United States: Hedge Week. Global Fund Media Ltd. 16 September 2016. Retrieved 22 January 2020.
