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That was among the fraudulent practices federal prosecutors cited in their May 9 indictments of Premium Point founder Anilesh “Neil” Ahuja, former partner Amin Majidi and former trader Jeremy Shor. “Our initial comments were to ask for less manager involvement in valuation process, not more . ”In response to the email, Premium Point immediately amended its proposal to exclude the use of imputed broker quotes.

That was enough to satisfy the fund-of-funds manager, which soon invested more than 0 million with the firm.

The banks argued that many of their positions were in illiquid investments on which they would have to take significant losses to exit.

The banks stated that their ownership interests in hedge funds and private equity funds were at risk of losing substantial value if they were forced to liquidate them quickly.

The rule is listed in Section 609 of the Dodd-Frank Act, and is part of the larger financial reforms contained in that legislation.

The rule was designed to prevent banks that receive federal and taxpayer backing in the form of deposit insurance and other support from engaging in risky trading activities.

But as market conditions weakened in 2015, investor withdrawals mounted, whittling the fund’s reported assets to 0 million as of Feb.

29, 2016, from more than

That was among the fraudulent practices federal prosecutors cited in their May 9 indictments of Premium Point founder Anilesh “Neil” Ahuja, former partner Amin Majidi and former trader Jeremy Shor. “Our initial comments were to ask for less manager involvement in valuation process, not more . ”In response to the email, Premium Point immediately amended its proposal to exclude the use of imputed broker quotes.

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That was among the fraudulent practices federal prosecutors cited in their May 9 indictments of Premium Point founder Anilesh “Neil” Ahuja, former partner Amin Majidi and former trader Jeremy Shor. “Our initial comments were to ask for less manager involvement in valuation process, not more . ”In response to the email, Premium Point immediately amended its proposal to exclude the use of imputed broker quotes.

That was enough to satisfy the fund-of-funds manager, which soon invested more than $100 million with the firm.

The banks argued that many of their positions were in illiquid investments on which they would have to take significant losses to exit.

The banks stated that their ownership interests in hedge funds and private equity funds were at risk of losing substantial value if they were forced to liquidate them quickly.

The rule is listed in Section 609 of the Dodd-Frank Act, and is part of the larger financial reforms contained in that legislation.

The rule was designed to prevent banks that receive federal and taxpayer backing in the form of deposit insurance and other support from engaging in risky trading activities.

But as market conditions weakened in 2015, investor withdrawals mounted, whittling the fund’s reported assets to $710 million as of Feb.

29, 2016, from more than $1 billion two years earlier.

billion two years earlier.

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The rules states that trades are presumed to be for the trading account of a bank if the bank held the position for 60 days.The rule was named after Paul Volcker, a former chairman of the Federal Reserve Board.The Volcker rule prohibits banks from engaging in proprietary trading activities.Simon Fludgate, who oversees operational due diligence for Aksia, said analyzing a fraud after the fact is easy in hindsight, but developing procedures to uncover possible malfeasance in the first place is challenging.In reviewing the Premium Point complaint, Fludgate noted that while the “imputed-pricing” methodology is something Aksia does look for, collusion by brokers is difficult to detect.

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