Hedge Funds: 1, SEC: 0

MARKETS

Texas Wants Your IPO Listing

Financial firms BlackRock and Citadel are leading a group to setup a stock exchange in Dallas, Texas that is less “woke” and has less barriers than their counterparts in New York.

While “wokeism” is not something one usually associates with a stock exchange (we’re politicising stock exchanges now???), the move has certainly raised eyebrows.


BANKING

US Regional Banks Risk Ratings Downgrades

Rating’s agency, Moody’s, is warning that there are a handful of regional US banks exposed to high-risk commercial real estate loans.

Moody’s have placed the following six regional banks on notice of possible ratings downgrade:

  1. WaFd Bank
  2. First Merchants Corp.
  3. Peapack-Gladstone Financial Corp.
  4. F.N.B. Corp.
  5. Old National Bancorp
  6. Fulton Financial Corp.

COMPLIANCE

Hedge Funds: 1, SEC: 0

The US Securities & Exchange Commission suffered a blow to their battle for better regulation of the hedge fund industry.

A US federal appeals court struck down the motion from the SEC to require hedge funds and private equity firms to disclose quarterly fees and expenses to to investors.

It’s a blow to the SEC as the regulator attempts to regulate the unregulated hedge fund and private equity industry as they see the lack of transparency a high risk to overall financial stability.


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