{"id":600,"date":"2007-05-08T11:24:11","date_gmt":"2007-05-08T09:24:11","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/2007\/05\/08\/hedge-fund-special-purpose-vehicles-are-used-to-break-corporate-governnance-rules\/"},"modified":"2007-05-08T11:24:11","modified_gmt":"2007-05-08T09:24:11","slug":"hedge-fund-special-purpose-vehicles-are-used-to-break-corporate-governnance-rules","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2007\/05\/08\/hedge-fund-special-purpose-vehicles-are-used-to-break-corporate-governnance-rules\/","title":{"rendered":"Hedge fund special purpose vehicles are used to break corporate governnance rules"},"content":{"rendered":"<p>If you have any doubt just <a href=\"http:\/\/news.moneycentral.msn.com\/provider\/providerarticle.aspx?feed=FT&amp;Date=20070507&amp;ID=6856457\" target=\"_blank\">read this<\/a> about Zurich Financial Services in the FT.<\/p>\n<p>As the FT noted:<\/p>\n<blockquote><p>Many mutual funds prohibit rapid turnover trading as it can increase transaction costs and siphon profits from long-term investors. Zurich helped the hedge funds evade the mutual funds' \"timing police\" by setting up special-purpose vehicles that allowed the hedge funds to trade under disguised identities.<\/p><\/blockquote>\n<p>Zurich admitted no wrong doing. But as is commonplace when no wrong-doing has happened paid a fine of $4 million and repaid profits earned of $12.8 million.<\/p>\n<blockquote><p><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>If you have any doubt just read this about Zurich Financial Services in the FT. As the FT noted: Many mutual funds prohibit rapid turnover<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2007\/05\/08\/hedge-fund-special-purpose-vehicles-are-used-to-break-corporate-governnance-rules\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-600","post","type-post","status-publish","format-standard","hentry","category-corruption"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=600"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/600\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}