UPDATE OF INVESTMENTFORGE

Updated: 05/17/2009 22:01
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“Greetings, The SEC has proposed rule amendments to substantially increase protections for investors who entrust their money to investment advisers, hedge funds. The SEC is seeking public comment on the proposed measures, which are intended to ensure that investment advisers who have “custody” of clients’ funds and securities are handling those assets properly, investment law firm, Pillsbury Winthrop Shaw Pittman LLP, said.

“These new safeguards are designed to decrease the likelihood that an investment adviser could misappropriate a client’s assets and go undetected,” SEC Chairman Mary Schapiro said, “That’s because an independent public accountant will be looking over their shoulder on at least an annual basis.”

The additional safeguards proposed by the SEC include a yearly “surprise exam” of investment advisers performed by an independent public accountant to verify client assets. In addition, when an adviser or an affiliate directly holds client assets, a custody control review would have to be conducted by a PCAOB-registered and inspected accountant. This news should be very useful for our investors, because it is always pleasure to know that your money is safe. Nevertheless, the InvestmentForge was always secured from any kinds of risk. And this is one of the main features for being successful during all this time.”


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