Legal & Regulation

As managers and investors look for fund domiciles with a focus on quality, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, explores how Guernsey is well positioned to meet these evolving needs. »

As managers and investors look for fund domiciles with a focus on quality, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, explores how Guernsey is well positioned to meet these evolving needs. »

The Eastern Caribbean Supreme Court, Court of Appeal, has granted leave of appeal to the defendants who applied for two preliminary issues to be heard in the BVI proceedings brought by Fairfield Sentry Limited (in liquidation). »

Guernsey’s much discussed corporate governance code came into effect at the beginning of the year. Carol Goodwin (pictured) highlights its key principles, asserting that good corporate governance is about board behaviour and not always about the rules. »

The US District Court for the Central District of California has entered a final judgment and permanent injunction order against defendants Gordon A. Driver of Las Vegas, Axcess Automation and Axcess Fund Management, both Nevada companies owned and controlled by Driver, in connection with a commodity pool Ponzi scheme in which the defendants defrauded over 100 participants in the US and Canada of over USD14m.  »

The Australian Securities and Investments Commission has made new market integrity rules for suspicious activity reporting and short sale tagging requirements which will apply for the Australian Securities Exchange (ASX) and Chi-X markets. »

In a report produced as part of the Newedge research chair on Advanced Modelling for Alternative Investments, Edhec-Risk Institute has evaluated the performance of hedge funds through a non-linear risk adjustment of returns. »

The Alternative Investment Management Association has expressed support for the elimination of the ban on general solicitation and advertising by hedge fund managers in the US, but has said that only accredited investors should continue to be allowed to invest in hedge funds. »

Fundamental reforms of over-the-counter (OTC) derivatives markets around the world are having a profound impact on how derivatives are used, raising particularly challenging questions for sovereign institutions, according to a BNY Mellon report. »

EBS, ICAP’s market leading electronic FX platform, has published new dealing rules for its customers and is relaunching the EBS brand. »