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Legal & Regulation

Gavel

NFA fines New York firm Forex Capital Markets USD200,000

Mon, 21/07/2014 - 12:08

The National Futures Association (NFA) has ordered Forex Capital Markets (FXCM), a registered retail foreign exchange dealer located in New York City, to pay a USD200,000 fine. »

Regulation

Two thirds of alternative managers are ready for AIFMD

Mon, 21/07/2014 - 11:27

Two thirds (64 per cent) of funds are ready for the deadline for implementation of the Alternative Investment Fund Managers Directive (AIFMD) on 22 July, according to a global survey of alternative investment fund managers. »

Regulation

Interactive Data launches solution to address AIFMD requirements

Fri, 18/07/2014 - 16:00

Interactive Data, a provider of independent evaluated pricing and reference data services, has introduced a solution to help financial institutions address the Alternative Investment Fund Managers Directive (AIFMD). »

Risk

Thomas Murray Data Services launches risk solution for depositary banks under AIFMD

Fri, 18/07/2014 - 14:30

Thomas Murray Data Services has launched a suite of products and has been working with a number of depositary banks to provide a total risk solution to ensure depositary bank compliance with the Alternative Investment Fund Managers Directive (AIFMD). »

Regulation

Chatham Financial expands regulatory services ahead of EMIR and AIFMD deadlines

Thu, 17/07/2014 - 14:00

Chatham Financial has launched new services within its consulting practice and ChathamDirect Software-as-a-Service (SaaS) platform to help fund managers navigate the Alternative Investment Fund Management Directive (AIFMD) and the European Market Infrastructure Regulation (EMIR). »

Electronic trading floor

SEC adopts first instalment of rules for cross-border security-based swap activity

Thu, 17/07/2014 - 12:17

The Securities and Exchange Commission (SEC) re-started its rulemaking for security-based swaps (SBS) under the Dodd-Frank Act by adopting a first instalment of rules that are applicable to SBS involving persons and entities located outside the US. »

Approved stamp

BNY Mellon gets AIFMD authorisation from the UK FCA

Wed, 16/07/2014 - 15:00

BNY Mellon has received formal approval from the UK’s Financial Conduct Authority (FCA) to provide trustee and depositary services to alternative investment funds (AIFs) under the Alternative Investment Fund Manager Directive (AIFMD). »

Computer screen

Convergence launches new product suite and website

Mon, 14/07/2014 - 16:10

Convergence, an information and advisory services provider to alternative asset managers, service providers and investors, has launched a new product suite and website. »

Regulation

Ex-regulators launch Newgate Compliance

Mon, 14/07/2014 - 15:00

Newgate Compliance, an independent consultancy offering bespoke compliance solutions to the global fund management industry, has officially launched. »

Survey

Majority of alt investment managers unprepared for AIFMD, says Alceda

Mon, 14/07/2014 - 14:02

With around a week to go before the deadline for authorisation, some 47 per cent of alternative investment fund managers have still not filed under the Alternative Investment Fund Management Directive (AIFMD). »

Clock

CFTC extends time limit for FCMs obtaining acknowledgement letters from depositories

Mon, 14/07/2014 - 10:06

The US Commodity Futures Trading Commission’s (CFTC) Division of Oversight will provide additional time for futures commission merchants (FCMs) to comply with Commission regulations requiring FCMs to obtain acknowledgement letters from certain depositories.  »

EU flag

ESMA defines central clearing of interest rate and credit default swaps

Mon, 14/07/2014 - 06:03

The European Securities and Markets Authority (ESMA) has launched a first round of consultations to prepare for central clearing of OTC derivatives within the European Union. »

Regulation

SEC provides Custody Rule guidance for private funds, SPVs and escrows

Tue, 08/07/2014 - 15:34

The US Securities and Exchange Commission has issued a new Guidance Update - “Private Funds and the Application of the Custody Rule to Special Purpose Vehicles and Escrows.” »

Approved stamp

SS&C GlobeOp depositary “Lite" service fully authorised

Tue, 08/07/2014 - 14:00

SS&C GlobeOp has obtained Financial Conduct Authority (FCA) approval for its Depositary “Lite" service offering. »

Des Pierce, SS&C GlobeOp

SS&C GlobeOp’s Des Pierce discusses the firm’s Depositary “Lite” solution under AIFMD

Tue, 08/07/2014 - 12:00

SS&C GlobeOp, one of the hedge fund industry’s leading administrators, is currently supporting European fund managers under the AIFMD’s Depositary “Lite” regime having recently gained authorisation from the UK’s Financial Conduct Authority. »

Computer screen

BlueBay selects Confluence for automated regulatory reporting solutions

Wed, 02/07/2014 - 06:29

BlueBay Asset Management, a manager of fixed income and alternative investment products, has chosen Confluence’s Unity NXT regulatory reporting solutions to automate its data reporting processes. »

Regulation

Regulation to drive hedge fund evolution, says survey

Wed, 02/07/2014 - 06:03

Regulation will be the key driver in the next phase of the rapidly evolving hedge fund industry, according to Part II of Citi Investor Services’ fifth Annual Industry Evolution survey. »

Gavel

OM Investment Management and Gignesh Movalia to pay over USD2m to settle SEC action

Tue, 01/07/2014 - 16:01

The Securities and Exchange Commission (SEC) has secured a final judgment setting disgorgement of USD1,29,800 and a civil penalty of USD300,000 against OM Investment Management and Gignesh Movalia. »

Commodities

CFTC extends comment period for position limits for physical commodity derivatives and aggregation

Mon, 30/06/2014 - 14:33

The US Commodity Futures Trading Commission (CFTC) has submitted for publication in the Federal Register a 30-day extension of the comment period for two rulemakings. »

Jersey flag

Jersey sees strong private placement uptake in run up to end of AIFMD transition

Mon, 30/06/2014 - 14:08

With less than one month to go until the transitional phase of the EU Alternative Investment Fund Managers Directive (AIFMD) comes to an end, Jersey is seeing a strong take-up in its private placement route into Europe. »

Electronic trading floor

SGSS launches multi-counterparty and multi-asset class trade repository reporting service

Fri, 27/06/2014 - 10:05

Societe Generale Securities Services (SGSS) has launched a trade repository reporting offer for OTC derivatives, servicing multi-counterparties and multi-asset classes, under the European Markets Infrastructure Regulation (EMIR). »

Regulation

SEC adopts cross-border security-based swap rules

Fri, 27/06/2014 - 06:01

The Securities and Exchange Commission (SEC) has adopted the first of a series of rules and guidance on cross-border security-based swap activities for market participants.  »

Gavel

Barclays charged with fraud over marketing and operation of dark pool

Thu, 26/06/2014 - 10:59

Barclays has been charged with fraud over the marketing and operation of its dark pool and other aspects of its electronic trading division. »

Clock

CFTC issues extension of time-limited no-action relief to LCH

Thu, 26/06/2014 - 10:04

The US Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) has issued a further extension of time-limited no-action relief to LCH.Clearnet Limited. »

Gavel

SEC charges hedge fund advisory firm over scheme to misuse investor proceeds

Tue, 24/06/2014 - 14:09

The Securities and Exchange Commission (SEC) has charged a Florida-based hedge fund advisory firm and its founder with fraudulently shifting money from one investment to another without informing investors.  »

Report

Time for asset management industry to shine, says KPMG report

Tue, 24/06/2014 - 12:37

Opportunities abound for the global asset management industry as the shrinking of the banking sector has thrust asset management to the heart of global capital flows and the pace of regulatory change is starting to ease off, according to a KPMG report. »

Gibraltar

Gibraltar strengthens corporate governance as guidance is endorsed by the FSC

Mon, 23/06/2014 - 14:04

The Corporate Governance Code set up by the Gibraltar Funds & Investments Association (GFIA) has been adopted into the regulatory process adopted by the Financial Services Commission (FSC).  »

Michael Megaw, SS&C GlobeOp

SS&C GlobeOp’s Megaw discusses FATCA developments

Mon, 23/06/2014 - 11:49

On 2 June 2014 the IRS published its first list of FATCA-compliant institutions in what represents the first significant sign of FATCA regulation gathering pace.   »

Regulation

Maitland launches AIFMD fund platform in Luxembourg

Fri, 20/06/2014 - 14:01

Maitland has received approval from the Luxembourg regulator (CSSF Luxembourg) for its Alternative Investment Fund Manager Directive (AIFMD) compliant management company and specialised investment fund. »

Fraud

Winsome and US Ventures to pay over USD40m for commodity pool fraud

Fri, 20/06/2014 - 11:45

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order requiring Robert J Andres and his company Winsome Investment Trust and Robert L Holloway and his company US Ventures (USV) to pay a civil monetary penalty of USD32,370,000 and restitution for defrauded customers totalling USD12 million.  »

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