Regulation

Ex-UBS AG Managing Director Peter Ghavami and two former colleagues convicted of rigging municipal bond investment deals may be sentenced to less prison time than the government is seeking, a federal judge said.

The Securities and Exchange Commission charged Trendon Shavers with defrauding investors of nearly $150,000 worth of bitcoins through Bitcoin Savings and Trust, an online investment scheme he ran, and of making false claims while soliciting investments online in 2011 and 2012.

Robert Khuzami, the former head of enforcement at the U.S. Securities and Exchange Commission, is joining Kirkland & Ellis LLP.

Increased demand for due diligence on hedge funds -- if not for the funds themselves -- may be the initial impact of the SEC's recent ruling lifting an 80-year-old ban on advertising for private offerings.

The Securities and Exchange Commission announced it has charged hedge fund advisor Steven Cohen with failure to supervise two senior employees. The charges also included failing to prevent the duo from insider trading.

Hedge fund managers now no longer have to hide behind their websites because they are free to advertise openly to investors who meet their investment requirements courtesy of President Obama's JOBS Act.

One service provider is looking to take advantage of the migration of hedge funds into the mutual funds space by offering its hedge fund clients its Investment Company Compliance Services offering.

The Senate Banking Committee unanimously agreed to recommend the full Senate confirm Kara Stein and Michael Piwowar as Securities and Exchange Commission members and approve chairman Mary Jo White to serve a full term.

Readers reacted loudly to news that the CFP Board sanctioned former chairman, Alan Goldfarb for selecting “fee only” and, later, “salary” to describe his income on a form on the FPA website.

Sen. Elizabeth Warren, the Massachusetts Democrat credited with conceiving the Consumer Financial Protection Bureau, said confirmation of a director for the agency is both a major step and a call to vigilance.