08.06.2011 - Hedge funds with sovereign wealth fund clients could face SEC checks |
Hedge funds whose client base includes sovereign wealth funds (SWFs) could find themselves being targeted by the US Securities and Exchange Commission (SEC) for non-compliance with the Foreign Corrupt Practices Act (FCPA). The SEC recently designated SWF employees as government officials for purposes of the FCPA. Such a definition could have major implications for the hedge fund industry...............................................Full Article: Source |