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Who Is At The Table? Interpreting Disclosure Requirements For Ad Hoc Groups Of Institutional Investors Under Federal Rule Of Bankruptcy Procedure 2019, James M. Shea, Jr.
Who Is At The Table? Interpreting Disclosure Requirements For Ad Hoc Groups Of Institutional Investors Under Federal Rule Of Bankruptcy Procedure 2019, James M. Shea, Jr.
Fordham Law Review
This Note explores Federal Rule of Bankruptcy Procedure 2019's disclosure requirements when hedge funds and other institutional investors appear as groups in Chapter 11 cases. In particular, this Note traces the history of Rule 2019 and the various corporate reorganization mechanisms to explain the split between two bankruptcy courts on whether these groups constitute “committees” under Rule 2019. This Note cites the fundamental differences between these groups and protective committees--the committees charged with representing security holders under federal equity receiverships. Hence, ad hoc groups do not have to make detailed disclosures of each individual transaction, disclosure that would be required …
The Unregulables? The Perilous Confluence Of Hedge Funds And Credit Derivatives, Noah L. Wynkoop
The Unregulables? The Perilous Confluence Of Hedge Funds And Credit Derivatives, Noah L. Wynkoop
Fordham Law Review
This Note examines credit derivatives, hedge funds, and the increase in systemic risk that results from the combination of the two. The issues considered include what method of regulation--entity, transaction, or self-regulation--provides the form and amount of disclosure that best addresses the risk that the markets as a whole will be affected by a financial shock. Emphasizing the role of traders and efficient capital markets, this Note proposes that a system of disclosure for derivatives similar to the Trade Reporting and Compliance Engine, or TRACE, system for corporate bonds would prevent rapid repricings that have the potential to shock the …
The New Antifraud Rule: Is Sec Enforcement The Most Effective Way To Protect Investors From Hedge Fund Fraud?, Kathleen E. Lange
The New Antifraud Rule: Is Sec Enforcement The Most Effective Way To Protect Investors From Hedge Fund Fraud?, Kathleen E. Lange
Fordham Law Review
Hedge Funds have consistently grown in both size and influence. Traditionally, hedge funds escaped regulation because access was limited to the wealthy and sophisticated. However, due to inflation, the wealth threshold has become more attainable to less sophisticated investors. Also, an increasing number of pension funds and other institutional investors have begun to invest a significant portion of their money in hedge funds. This increased growth, combined with the "retailization" of the industry, has led to concern over whether investors are adequately protected from the corresponding growth in hedge fund fraud. This Note argues that, absent new legislation, the SEC …