Thu, 25/04/2013 - 16:00
The Rothstein Kass global network has established Rothstein Kass Ireland and completed its admission as a member firm.
The member firms of the Rothstein Kass global network collectively now have 10 offices globally and more than 1,100 employees.
“This is an exciting and important move for Rothstein Kass given our focus on the global fund industry and Ireland’s importance as one of the leading fund domiciles in the world,” says Dan Byrne (pictured), member of the network’s global board. “Rothstein Kass Ireland will be focused on auditing investment funds domiciled in Ireland and certain other European jurisdictions, as well as special purpose vehicles that are formed in Ireland to invest in a variety of asset classes.”
The expansion into Ireland comes amid increased focus on EU regulatory requirements by US fund managers in light of the EU Alternative Investment Fund Managers Directive (AIFMD) which is set to take effect this July.
“With more and more of our clients operating on an international level, there is a real demand for firms that can deliver in-depth expertise and hands-on services beyond just the national level,” says Steven Kass, chairman of the network’s global board. “Our team has a unique combination of extensive experience, high-touch service and knowledge of the global fund industry, and we see this growth as a means to better serve our clients while also taking advantage of the opportunity of increasing our international client base. The admission of a member firm in Ireland is just the beginning of a new chapter in the Rothstein Kass growth story, and we’re excited for what’s to come.”
Rothstein Kass, the US member firm, has been approved since 2010 by the Irish Auditing & Accounting Supervisory Authority as a Third-Country Audit Entity, which allows the firm to issue audit opinions regarding the financial statements of issuers incorporated outside of the European Union/European Economic Area whose transferable securities are admitted to trading on a regulated market in Ireland.
The expansion plans for the Rothstein Kass global network extend beyond Ireland as well.
“Currently we’re able to service our clients’ needs around the globe through our correspondent relationships, but our plan is to have member firms of the Rothstein Kass global network in all major fund domiciles and investment management centres globally,” says Byrne.
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