Chris Kentouris

Citigroup has become the second fund administrator to implement a new technology platform specifically designed for servicing hedge funds-of-funds.

Morgan Stanley has outsourced middle and back office services for its Alphas managed account platform to GlobeOp Financial Services.

Brown Brothers expanded its relationship with OppenheimerFunds to provide middle and back office services through a new “lift-out” agreement for a $155 billion division.

The Financial Industry Regulatory Authority wants broker-dealers to be a lot more specific on the reasons for dismissing an employee in their reports to the regulator.

Pinnacle Capital Markets has once again has been slapped with a fine for inadequate anti-money laundering and customer identification procedures involving foreign investors using its direct market access system.

SEC reprieve for money funds that would require them to approve of the credit rating agencies they must use to determine whether a security is eligible for investment.

Wall Street wirehouses continued to top the list of sponsors of separately managed accounts for the second quarter of this year, according to a research report just issued by the Money Management Institute and Dover Financial Research.

Investment funds, lawmakers and other fund experts say that target-date funds need to increase the amount of information they provide investors to understand their investment risk. But they don’t want the Securities and Exchange Commission to change the way the funds are named.

A group of investors on Wednesday sued the accounting giant Ernst & Young for allegedly misrepresenting the financial status of the defunct hedge fund Parkcentral Global after they lost a total of $17 million in the fund.

The Securities and Exchange Commission has given money market funds a reprieve from following an amendment to money market fund regulations requiring allowing them to approve of the credit rating agencies they must use to determine whether a security is eligible for investment.

Wyser-Pratte Management, a New York-based fund manager and corporate raider, claims Broadridge Financial Solutions and French media giant Lagardere may have lost shares voted in favor of its proposals during an April proxy contest.

Agency brokers were more favored than bulge bracket firms as the most widely used brokers for commission management services, according to a survey of 214 fund managers conducted by Integrity Research Associates

Two day traders have been arrested by Norwegian police for allegedly cracking an algorithm of US brokerage firm Timber Hill. The traders were purpoted be trying to manipulate the stock prices of three companies listed on the Oslo Stock Exchange.

The Financial Industry Regulatory Authority is being told by some compliance and financial reporting experts that its proposed requirement for broker-dealers to cough up more detailed and frequent financial reports could be too cumbersome and costly to follow.

Mini-prime broker Lighthouse has notified its 22 hedge fund clients that they can no longer execute new orders.

In its long-awaited concept release on the proxy “plumbing” process, the Securities and Exchange Commission on Wednesday sought public comment on making changes to the proxy voting and distribution system but fell far short of advocating any major overhaul.

State Street Corp. has sued three of its former executives for creating a new rival in securities lending.

Investment managers rely on an array of high-fangled electronic tools to execute the most complex program trading and algorithmic trading strategies. But such is not the case when it comes to managed accounts.