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Can anyone shed light on this
issue? These questions come from an
ananomous man who purportedly lost some money thru a <FONT face=Arial
size=2>hedge fund fraud. The problem is that I don't understand the nature
of the questions and how they relate to the way the <FONT face=Arial
size=2>money was stolen? Can anyone tell me how they stole his money
and the Prime Broker link? I can only
get info
in bits and pieces and my correspondent is
often lazy with providing me information.
Thanks for your time, attention, and any
feedback.
chas
====
Hedge Fund Prime Brokerage Due
Diligence
1) Are you currently or have you ever been a
Prime Broker for xxxxx?
2) Does your arrangement provide for
exclusitivity in any way or is xxxxx free to pursue additional Prime
Brokerage arrangements in addition to yours?
Can you provide
details in any way?
2) If you are no longer a Prime for xxxxx,
can you tell me the circumstances as to why this is no longer true?
Under your Prime arrangement (current or past,
please note) the following questions;
3) Are all assets, including cash, held in
your custody?
4) Explain how fund assets may be moved and
invested.
5) What are your policies and procedures to
safeguard fund assets (3rd party signatures, multiple signatures,
etc.)?
6) Does xxxxx have multiple accounts
with you? If so, how do you assure that all accounts are traded on an
equal basis?
7) Do you perform any type of valuation
services (such as calculation of NAV, account balances, etc.)?
8) In addition to the above, can you please
describe any other duties and responsibilities that your arrangement
with xxxxx entails?
9) Is there anything else that you can tell
me that would help me better understand the relationship that you have
with xxxxx and / or the Fund
Manager?
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