Spear Phishing Risks to Hedge Funds: A Case Study

Spear Phishing Risks to Hedge Funds: A Case Study

Hedge fund Tillage Commodities filed a lawsuit last September alleging its fund administrator ignored its own security protocols when it fell for a spear phishing attack and inadvertently wired millions of dollars out of Tillage’s accounts. The fund admin has...
Trump won. What does it mean for financial markets?

Trump won. What does it mean for financial markets?

Defying the polls, odds, and establishment, Donald Trump will be the next President of the United States. Wall Street is likely to experience volatility in short term as Mr. Trump represents a drastic break with the status quo and injects uncertainty into the markets....
Expense Allocation Interactive Timeline

Expense Allocation Interactive Timeline

If you work in the investment industry, you’ve most likely heard the SEC is taking expense allocation seriously and has made it an investigative priority. You might have also heard about SEC misallocation charges resulting in settlements in the millions of...
Expense Allocation: Establishing a Benchmark

Expense Allocation: Establishing a Benchmark

“A hedge fund hired us to investigate a claim of misallocation by one of its investors.” An industry consultant told us. “After a long and costly process, we discovered the investor was right; the hedge fund did over-allocate the expense in question. But we also...
A Cautionary Tale of Wire Fraud

A Cautionary Tale of Wire Fraud

Wire fraud is seldom in news, but when it is, it serves as a reminder to a very real risk. Consider the Wall Street Journal’s coverage of Mega Metals, an Arizona business that recently lost $100,000 to wire fraud. How it happened As a scrap metal processor, Mega...