Legal & Regulation

The UK’s fund management industry has been given an extra year to comply with the EU’s Alternative Investment Fund Managers Directive (AIFMD), says Bovill, the financial services regulatory consultancy. »

Dion Global Solutions, a technology partner to the financial services industry, has launched the FATCA (Foreign Account Tax Compliance Act) TRAC Indicia Check Service to assist financial firms in making an initial assessment of the impact of the FATCA regulations on their business. »

The Cayman Islands Monetary Authority (CIMA) has initiated a formal consultation process with the financial services industry and other stakeholders to further its dialogue with the industry on corporate governance practices, developments and standards as it relates to the private funds sector. »

Carne Group, the global fund governance specialist, has welcomed the consultation initiative and the decision by the Cayman Islands Monetary Authority (CIMA) to enhance and clarify corporate governance standards for the Cayman Islands funds community. »

HM Treasury’s latest Alternative Investment Fund Managers Directive (AIFMD) consultation paper goes significantly beyond the minimum rules contained in the Directive for small hedge fund managers, according to Brian Forrester, investment partner at Deloitte. »

Brian Forrester (pictured), investment partner at Deloitte comments on HM Treasury’s latest Alternative Investment Fund Managers Directive (AIFMD) consultation paper… »

Markit and Compliance Technologies International (CTI) have launched the FATCA Service Bureau, a new service designed to help financial institutions comply with the Foreign Account Tax Compliance Act (FATCA). »

Former hedge fund manager Raj Rajaratnam is to pay USD1.47 million to settle insider trading charges brought against him by the Securities and Exchange Commission (SEC). »

A KPMG International survey of more than 70 alternative investment fund managers reveals that nearly half have not taken any concrete steps to analyse the impact the Alternative Investment Fund Managers Directive (AIFMD) will have on their businesses, or to make changes to their operations. »

The European Securities and Markets Authority (ESMA) has launched a consultation on guidelines on key concepts of the Alternative Investment Fund Managers Directive (AIFMD). »