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Legal & Regulation

Jad Comair, founder and chief investment officer, Melanion Capital

Melanion Capital formally recognised as an innovative startup (JEI) by French Ministry of R&D

Mon, 29/07/2013 - 13:37

Just weeks after being given the green light by French markets regulator AMF (Autorité des Marchés Financiers) to become the first alternative manager to specialise in investment in dividend futures, Melanion Capital has received an additional accolade from the French authorities. »

Luxembourg

First dematerialised bond under Luxembourg law issued through LuxCSD

Mon, 29/07/2013 - 13:29

LuxCSD has issued and settled the first dematerialised security following implementation of the new law in Luxembourg in April 2013. »

Survey

AIMA/EY survey finds mixed progress towards AIFMD implementation

Wed, 24/07/2013 - 16:10

Uneven progress is being made in implementing the Alternative Investment Fund Managers Directive (AIFMD) across the European Union, according to a joint study by hedge fund industry association the Alternative Investment Management Association (AIMA) and EY, the multinational professional services firm. »

Gavel and scales

FCA fines US-based oil trader USD903,000 for market manipulation

Wed, 24/07/2013 - 06:40

The Financial Conduct Authority (FCA) has fined US-based high frequency trader Michael Coscia USD903,176 (GBP597,993) for deliberate manipulation of commodities markets. »

European flags

Citi's securities and fund depositary services now AIFMD-ready in key European domiciles

Tue, 23/07/2013 - 12:40

The Alternative Investment Fund Management Directive (AIFMD) rules affect fund remuneration practices, marketing guidelines, documentation and reporting, and the requirement for alternative investment fund managers to appoint a depositary. »

Survey

AIFMD will reduce choice and increase costs for managers and investors, says survey

Tue, 23/07/2013 - 06:03

Research by BNY Mellon points to significant uncertainty about the requirements of the Alternative Investment Fund Managers Directive (AIFMD), despite Monday's first deadline for authorisation. »

Green traffic light

BNP Paribas ready to help clients transition to AIFMD compliance 



Mon, 22/07/2013 - 16:02

BNP Paribas is now ready for the transition of its asset manager and asset owner clients to meet the requirements of the Alternative Investment Fund Management Directive (AIFMD), which came into effect on 22 July. »

Fiona Le Poidevin, Guernsey Finance

Guernsey now accepting AIFMD applications

Mon, 22/07/2013 - 13:47

Guernsey is now accepting applications under new domestic AIFMD marketing rules and therefore it is a case of ‘business as usual’ for Guernsey’s investment fund community, writes Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry. »

George Anson, chairman, EVCA

AIFMD must be implemented proportionately and consistently

Mon, 22/07/2013 - 11:44

The EVCA comments on the Alternative Investment Fund Managers Directive (AIFMD) entering into force across the European Union… »

Gavel and scales

SEC charges Steven A Cohen with failing to supervise portfolio managers and prevent insider trading

Mon, 22/07/2013 - 06:00

The Securities and Exchange Commission has announced charges against hedge fund adviser Steven A Cohen for failing to supervise two senior employees and prevent them from insider trading under his watch. »

Glynn Barwick, Goodwin Procter

AIFMD spells uncertainty

Sun, 21/07/2013 - 20:43

It could be some time yet before the AIFMD brings standard regulatory requirements across the EU, says Glynn Barwick (pictured), regulatory lawyer at Goodwin Procter LLP… »

Document signing

ESMA finalises supervisory co-operation agreements for alternative investment funds

Fri, 19/07/2013 - 12:14

The European Securities and Markets Authority (ESMA) has approved seven co-operation arrangements between EU securities regulators and their global counterparts with responsibility for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds. »

Steven Maijoor, ESMA chair

ESMA consults on non-EU counterparties OTC derivatives

Thu, 18/07/2013 - 10:22

The European Securities and Markets Authority (ESMA) has launched a consultation on draft regulatory technical standards (RTS) aimed at implementing the provisions of the European Markets Infrastructure Regulation (EMIR) related to OTC derivative transactions by non-European Union (EU) counterparties and aimed at preventing attempts by non-EU counterparties to evade EMIR’s provisions. »

Geoff Cook, chief executive, Jersey Finance

Further regulatory steps taken to meet AIFMD requirements welcomed by Jersey Finance

Tue, 16/07/2013 - 06:00

Jersey Finance has welcomed the announcement from the Jersey Financial Services Commission (JFSC) that 25 bilateral agreements have been signed in respect of the Alternative Investment Fund Managers Directive (AIFMD), another key step in meeting the requirements of the Directive. »

Document signing

Cayman Islands signs MOUs with 25 ESMA members

Mon, 15/07/2013 - 06:20

The Cayman Islands has now signed memoranda of understanding (MOUs) with 25 European countries, which will enable the continued marketing of Cayman Islands hedge funds throughout the European Union. »

Fiona Le Poidevin, chief executive of Guernsey Finance

Guernsey’s 27 AIFMD agreements keep funds business flowing

Fri, 12/07/2013 - 15:55

The Guernsey Financial Services Commission (GFSC) has signed bilateral cooperation agreements with 27 securities regulators from the European Union and the wider European Economic Area, including the UK, France and Germany. »

Steven Maijoor, ESMA chair

ESMA begins detailing central clearing of OTC derivatives

Fri, 12/07/2013 - 12:44

The European Securities and Markets Authority (ESMA) has launched a Discussion Paper to prepare the regulatory technical standards (RTS) which will implement provisions of the European Markets Infrastructure Regulation (EMIR) regarding the obligation to centrally clear OTC derivatives. »

Luxembourg

Alter Domus launches two new services following Luxembourg AIFMD ratification

Fri, 12/07/2013 - 06:02

Alter Domus is launching two new initiates in Luxembourg following the ratification of the Alternative Investment Fund Managers Directive (AIFMD) in the Grand Duchy. »

Michel Barnier, European Commissioner

EC and CFTC agree common path forward on derivatives

Fri, 12/07/2013 - 06:00

European Commissioner Michel Barnier (pictured) and United States Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler have announced a ‘path forward’ regarding their joint understandings on a package of measures for how to approach cross-border derivatives. »

Michael G Tannenbaum, Tannenbaum Helpern

Tannenbaum Helpern helps lead global network designed to aid clients in complex cross-border financial litigation

Thu, 11/07/2013 - 18:01

Launched in May 2013, the International Financial Litigation Network (IFLN) was founded by more than 20 law firms, including Tannenbaum Helpern. The mission of the network, which presently spans 16 countries, is to improve cross-border solutions for financial institutions, funds and individuals involved in financial disputes by promoting collaboration among lawyers and court systems and by facilitating cost-effective resolutions. »

Marc Saluzzi, chairman of ALFI

Luxembourg Parliament adopts law implementing AIFMD

Thu, 11/07/2013 - 16:05

The Luxembourg Parliament has adopted the law transposing the Alternative Investment Fund Manager Directive (AIFMD) into Luxembourg law. »

Mary Jo White, SEC

SEC approves JOBS Act requirement to lift general solicitation ban, disqualify bad actors from certain offerings

Thu, 11/07/2013 - 08:05

The Securities and Exchange Commission has adopted a new rule to implement a JOBS Act requirement to lift the ban on general solicitation or general advertising for certain private securities offerings. »

Green light

JOBS Act ushers in new era in asset management

Thu, 11/07/2013 - 07:55

The Securities and Exchange Commission’s decision to lift the ban on general solicitation by hedge funds and other private placements to sophisticated investors, part of the Jumpstart Our Business Startups (JOBS Act) law signed more than a year ago, marks both the end of the hedge fund industry as we know it today and the beginning of a new era in asset management, according to the asset management PR firm Walek & Associates.  »

French flag

Melanion Capital authorised to specialise in dividend futures investment

Tue, 09/07/2013 - 06:03

Paris-based Melanion Capital has received authorisation from the French Autorité des Marchés Financiers to become the first alternative manager to specialise in investment in dividend futures.  »

Mike Hughes, Deutsche Bank

Deutsche Bank releases AIFM Directive white paper on benefits of integrated model

Mon, 08/07/2013 - 06:15

Deutsche Bank has released a white paper on how managers can chart a smooth course through AIFMD implementation, and argues that adoption of an integrated model will be the most cost-effective option, with minimal disruption to a hedge fund business. »

Olivier Sciales, Chevalier & Sciales

CSSF announces transitional measures for managers and funds under the AIFM Directive

Wed, 03/07/2013 - 11:08

By Olivier Sciales, Chevalier & Sciales – Luxembourg's financial regulator, the Financial Sector Supervisory Authority (CSSF), has published a series of Frequently Asked Questions (FAQs) regarding the draft legislation that will implement the European Union's Alternative Investment Fund Managers Directive into national law and the European Commission's implementing regulation. »

Trading screens

IVP signs 25 hedge fund clients to regulatory compliance platform

Wed, 03/07/2013 - 10:04

Indus Valley Partners’ IVP RAPTOR (Regulatory Analytics Portfolio Transparency Operational Reporting) has been implemented by 25 clients since its October 2012 launch. »

Steel pipes

LME consults on changes to warehouse policy to cut queues

Tue, 02/07/2013 - 06:02

The London Metal Exchange (LME) has launched a consultation on a proposal designed to cut warehouse queues. »

Bart Chilton, CFTC

MF Global is a bellwether case

Fri, 28/06/2013 - 10:04

CFTC Commissioner Bart Chilton on the Filing of Charges in the MF Global Case… »

Gavel

CFTC charges MF Global Inc

Thu, 27/06/2013 - 23:50

The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action against MF Global Inc (MF Global), a registered futures commission merchant (FCM), MF Global Holdings Ltd (Holdings), former Chief Executive Officer of MF Global and Holdings Jon S Corzine, and former Assistant Treasurer of MF Global Edith O’Brien, over the unlawful use of customer funds that harmed thousands of customers and violated fundamental customer protection laws on an unprecedented scale. »

features
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... »

Article
North America

Private debt in North America

Fri, 05/06/2015 - 12:06

The North American private debt industry has seen substantial growth in assets over the last decade. This extract from the Preqin Special Report: Private Debt in North America looks at the current state of private debt fundraising and funds currently in market. ... »

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