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Legal & Regulation

gavel and scales

DBSI to pay USD3m to settle CFTC charges

Tue, 23/12/2014 - 10:00

The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against FCM Deutsche Bank Securities Inc) (DBSI) is to pay a USD 3 million civil penalty to settle CFTC charges relating to failures to properly invest customer segregated funds, prepare and file accurate financial reports, maintain required books and records, and related supervisory failures.  »

Louise Guillemette, Innocap

Customisation: Perspective on trading

Tue, 09/12/2014 - 10:40

By Louise Guillemette (pictured, above) and Poseidon Retsinas (pictured, left), both Legal Counsel at Innocap Investment Management – The managed account space is evolving from the traditional standardised and commingled offering toward customisation for single investors. Innocap offers its investors dedicated investment vehicles of multiple types, across multiple jurisdictions, featuring multiple fund administrators and service providers. »

Passports

Start doing a dry run for Annex IV reporting, urges SEI’s Henkel

Mon, 01/12/2014 - 18:20

The Annex IV report under AIFMD contains 38 specific questions for the AIFM and over 300 questions for each AIF being passported across the EU. To say that it is a complex beast is an understatement. »

James Williams, Hedgeweek

Product and legal innovations keep Ireland one step ahead

Thu, 20/11/2014 - 13:21

It is highly anticipated that Ireland will have a new corporate vehicle for Irish funds in place by the end of 2014: the Irish Collective Asset-Management Vehicle or ICAV. »

Dawn Howe, Walkers

FATCA: What's everyone else doing?

Fri, 26/09/2014 - 06:15

By Dawn Howe (pictured) and Michael Padarin, Walkers – From the point of view of a Cayman Islands investment funds lawyer it seems as if FATCA dawned on most clients around January 2014, even though it's been gestating for a number of years.  The wake up call was usually a GIIN request from the client's prime broker, resulting in a scramble to get up to speed and implement a FATCA compliance program within their fund complex. »

James Williams, Hedgeweek

Data management and reporting solutions are key to achieving operational efficiency

Tue, 23/09/2014 - 15:32

It’s a fair assumption to say that the proliferation of hedge fund regulation has spurred technology providers to produce newer, innovative solutions.  »

Approved stamp

Omni Partners obtains licence under AIFMD

Wed, 23/07/2014 - 14:02

The UK Financial Conduct Authority (FCA) has approved Omni Partners’ application for an authorised licence under the Alternative Investment Fund Managers Directive (AIFMD). »

Thumbs up

Capita Financial Managers (Ireland) granted AIFM licence

Wed, 23/07/2014 - 10:06

Capita Financial Managers (Ireland) Limited has been granted an alternative investment fund manager (AIFM) licence by the Central Bank of Ireland. »

Andrew Shrimpton, Kinetic Partners

Reporting should be key focus for UK AIFMs

Tue, 22/07/2014 - 15:48

Andrew Shrimpton (pictured), global head of regulatory compliance at Kinetic Partners, on what the next focus for UK AIFMs should be following the end of the AIFMD transitional period… »

Approved stamp

All companies in La Française Group are now authorised AIFMs

Tue, 22/07/2014 - 10:04

La Française Group has obtained AIFM approval for all its management companies. »

Regulation

AIFMD will bring ‘greater stability’

Mon, 21/07/2014 - 14:54

Arnaud Claudon, head of depositary banking, BNP Paribas Securities Services, says AIFMD will bring ‘greater stability’ to European alternatives market… »

Survey

Full compliance still some way off as AIFMD deadline arrives, says BNY Mellon

Mon, 21/07/2014 - 14:12

There is a compliance shortfall among alternative investment funds (AIFs) on the eve of the deadline for Alternative Investment Fund Managers Directive (AIFMD) authorisation, according to research by BNY Mellon. »

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. »

features
Special report
Cybersecurty for Hedge Funds

Cybersecurity for Hedge Funds

Thu, 30/07/2015 - 11:00

Cybersecurity is no longer simply an IT issue, it is now a business issue. This is the conclusion of the experts and fund managers around the world whose opinions were polled for this landmark Hedgeweek Special Report, which outlines Best Practices for Cybersecurity in a fast-changing environment where managers need to keep several steps ahead of cyber criminals... »

Article
EU Flag

Hedge fund manager outlook on the AIFMD

Wed, 22/07/2015 - 19:52

The introduction of the Alternative Investment Fund Managers Directive (AIFMD) into European law in 2013 was part of a series of moves towards greater regulatory oversight of the hedge fund industry in recent years. In our survey, we asked hedge fund managers for their views on the effect of these new regulations on the industry as well as their expectations about the impact of the AIFMD on their firm over the next 12 months, the results of which are analyzed in this extract from the Preqin Special Report: AIFMD in the Hedge Fund Industry – 2015 Update. ... »

Article
Ken MacCuish, Intralinks

A couple of years ago, the title Chief Information Security Officer, or CISO for short, was a foreign concept within the hedge fund community. The winds have changed, however, as hedge funds become increasingly targeted by cyber hackers, causing many to hire a CISO to uphold the network integrity of the firm.  ... »

Article
Sovereign Wealth Funds

Sovereign wealth funds, though small in number and secretive in nature, wield considerable influence as investors as a result of their sizeable assets under management. This extract is taken from Preqin’s latest report which features exclusive content from the 2015 Preqin Sovereign Wealth Fund Review.  ... »

Special report
Hedgeweek Special Report: Hedge Fund Administration

Hedge Fund Administration 2015

Tue, 16/06/2015 - 09:57

Mergers and acquisitions in recent years have changed the face of hedge fund administration. Big custodial banks are likely to dominate the HFA space in years to come, forming one part of a barbell with a number of well-run, well-capitalised independent HFAs on the other end. This report examines the implications for both hedge funds and their administrators... »

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