Reuters Money: SAC fund to adopt claw-back provisions, beef up compliance

	Click to View in Browser 05/2/2013 SAC fund to adopt claw-back provisions, beef up compliance BOSTON (Reuters) - Hedge fund titan Steven A. Cohen told investors on Thursday that his $15 billion fund will claw back earnings of any employees whose conduct leads to regulatory or criminal sanctions, according to a letter being sent to investors. Kass, Berkshire's Bear, is ready to "surprise" Buffett (Reuters) - Hedge fund trader Doug Kass had his first brush with fame at the age of 10, when he appeared on a television quiz show, Tic-Tac-Dough, and won every day for a week. UBS faces calls for break-up at investor meeting ZURICH/LONDON (Reuters) - UBS faced a fresh call to separate its investment banking operations and wealth management division at an investor meeting on Thursday, after activist investor Knight Vinke Asset Management demanded a review of the Swiss bank's structure. BlackRock to hire 300 lawyers to handle regulation 'mess' ST GALLEN, Switzerland (Reuters) - BlackRock Inc, the world's largest money manager, plans to hire another 300 lawyers to help it deal with fragmented global regulation, particularly of banks. Hedge fund Centaurus to return cash, shut Asia office: source HONG KONG/LONDON (Reuters) - Hedge fund firm Centaurus Capital is returning external investors all of their money after clashes with them over where the best money-making opportunities lay, a source familiar with the firm said. Exclusive: China investment guru Fang targets comeback with $2 billion Hopu II fund HONG KONG (Reuters) - Fang Fenglei, a former Goldman Sachs banker and co-founder of Hopu Investment Management, is raising up to $2 billion in a new fund, people familiar with the matter said, as one of China's best known bankers seeks to add to his riches. Ford hires 2,000 in Kansas City, pickup truck demand booms DETROIT (Reuters) - Ford Motor Co is adding more than 2,000 jobs at its pickup truck factory in Kansas City as growth in the U.S. housing and oil sectors trigger a boom in truck sales. Private equity group Carlyle hires energy investment team LONDON (Reuters) - The Carlyle Group has hired a six person energy investment team, the private equity firm said on Thursday, as it looks to take advantage of predicted growth in global demand. Column: Rwanda, iBonds and the madness of the bond market (Reuters) - In the past week we've had two object lessons in the madness of the bond market: Rwanda and Apple. Column: Retirees and debt: How to avoid the worst traps CHICAGO (Reuters) - If you're strapped for cash or have a poor credit rating, the offer would sound tempting: upfront cash in return for your future pension payments. Related Video How to cash in on lawsuits - Investing 201 Forget gold: The case for REITs Business News Wall Street up on data, ECB move Jobless claims fall sharply to five-year low The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend