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Mr. Lampert, who serves as Sears chairman, also took $17 million worth of the company's shares from a hedge fund entity in place of cash management fees.
The fund entity type that you are able or required to create will depend on your state's regulatory laws.
It's a common practice to seek protection from liability by creating a corporation to act as the general partner of your fund entity.
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The council, he wrote, could designate certain money market fund entities as systemically important and subject them to regulation by the Federal Reserve, which could then impose an overhaul.
DM: We've been working for months to set up a couple of fund entities.
The Ministry of Production launched a public contest last year to fund the operation of potential VC funds, and up to $2.25 million USD will be delivered to investment fund entities that come up with high-impact proposals for funding in order to encourage the creation of venture capital funds in the country.
Even then, when the Securities and Exchange Commission fined former Fannie Mae CEO Daniel Mudd for misleading investors about the degree to which the mortgage funding entity was at risk of collapsing due its exposure to risky mortgages, it was Fannie Mae itself that wrote the $100,000 check on Mudd's behalf, to a special US Treasury account that accepts "gifts".
The funding entity only required conclusions and documentation of findings in internal documents.
SXSW is an unexpected funding entity, but it does make sense for it to invest in the event management space.
As a publicly funded entity with near limitless financial resources, I think the BBC needs to be careful about what businesses they dip their toes into.
In a joint 11 June statement (in Japanese here), the heads of more than 50 life science-related academic societies expressed interest in the concept of an NIH-like funding entity positioned over and above Japan's existing ministries; but they also voiced concerns that the details have not been thought through.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com