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  1. Fund performance raises specific issues

    First, each hedge fund should issue a private placement memorandum (PPM) that provides an overview of the hedge fund’s strategy, including its investment style, the asset classes it uses and its geographic exposure, and the planned use of leverage.

  2. Devil is in the detail

    However, when a crisis occurs, that is when it is necessary to ensure the memorandum and articles of association and contracts are robustly drafted to ensure there is sufficient power to side-pocket assets, impose gates, or suspend redemptions...

  3. Pricing problems

    For him the main legal concern for failure to properly value an asset is “a breach of fiduciary duty as well as a likely breach of the subscription agreement and memorandum and articles of association, potentially exposing the directors and as a...

  4. Need for audit seen as essential

    Another important function of an auditor is to consider fraud controls and issue appropriate audit recommendations.Winters and O’Neill conclude it would be unusual if an investment fund were not independently audited, particularly where there are...

  5. BVI auditors braced for increased closures

    This includes verifying that restructurings are in line with the provisions in the articles of association and offering memorandum. Unlike nearby Cayman Islands, the British Virgin Islands (BVI) does not require companies and investment funds based...

  6. BVI legal experts meet restructuring challenges

    The options open to a fund facing redemption and liquidity issues will depend on the powers granted to the fund and its directors in the fund documents, specifically the articles of association or byelaws and offering memorandum.

  7. Climate Exchange sets sights on China and India

    Climate Exchange chairman Richard Sandor says the group has signed a memorandum of understanding with Petrochina "to explore emissions trading in China", while also looking at opportunities to take advantage of China's 48% share in carbon...

  8. SEC and CFTC team up to review derivatives products

    Both parties signed a Memorandum of Understanding on March 11, which set out seven guiding principles under which future products would be reviewed. News The US Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission...

  9. Liquidity or bust?

    It is more an enhancement of the Memorandum of Understanding between the regulatory bodies. If you've got nothing nice to say, say nothing at all. This seems to be the prevalent attitude among mortgage lenders and banks in response to the three...

  10. Daily SearchCast, March 14, 2006: Google To Sell Online Books, Didya Hear The News? Google Collides With Mars; 25 Things I Hate & Love About Google; Windows Live Toolbar's Cool Newsreader & More!

    Memorandum Launches WeSmirch Gossip Tracker Today's search podcast covers Google partnering with publishers to sell online books; Google Mars lets you view the Red Planet; Danny on 25 things he loves and hates about Google and more!