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Legal & Regulation

Paul Kneen, managing director of Abacus Financial Services in the Isle of Man and Abacus Fund Administration in Malta

Abacus to co-sponsor IFI Global’s AIFMD debate in London

Wed, 26/06/2013 - 13:31

With less than a month to go until the Alternative Investment Fund Managers Directive (AIFMD) implementation deadline, many fund managers are gearing up for the new regulatory restrictions which the directive will bring to the European fund market. »

Bill Prew, founder of INDOS

INDOS Financial plans to enter AIFMD depositary market

Mon, 24/06/2013 - 06:07

INDOS Financial has submitted an application to the Financial Conduct Authority for authorisation as a depositary. INDOS plans to provide independent depositary oversight services to hedge fund managers seeking to comply with the long-awaited Alternative Investment Fund Managers Directive (AIFMD) which becomes law on 22 July 2013. »

Computer screen

Dechert launches AIFMD resource page

Mon, 17/06/2013 - 06:08

Law firm Dechert’s financial services group has launched a web page that brings together a selection of resources designed to address issues concerning the EU Alternative Investment Fund Managers Directive (AIFMD). »

Alden McLaughlin, Cayman Islands Premier

Cayman to commit to multilateral convention

Wed, 12/06/2013 - 16:00

The Cayman Islands Government is prepared to commit to the Convention on Mutual Administrative Assistance in Tax Matters. »

David Beatrix, senior business developer for OTC derivatives at BNP Paribas Securities Services

Negotiating the collateral management paradigm shift under Dodd Frank & EMIR

Tue, 11/06/2013 - 11:42

Phase 1 of Dodd Frank commenced in March this year, requiring swap dealers and major swap participants to clear their OTC derivative contracts (i.e. liquid IRS and CDS) through central counterparties (CCPs). With Phase 2 commencing in June, buy-side firms in the US are now fully engaged in getting operationally ready. »

Howard Revens, UK managing director, Drooms

Drooms advises on AIFMD requirements ahead of 22 July deadline

Mon, 10/06/2013 - 11:17

Drooms’ UK managing director Howard Revens is to present on the impact to fund managers on AIFMD’s wide ranging and complex reporting requirements at Knight Frank’s 2013 AIFMD: Practical Implications Breakfast Briefing.  »

Steven Maijoor, ESMA chair

ESMA and the EBA publish final principles on benchmarks

Fri, 07/06/2013 - 06:03

The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have published their final report setting out their Principles for Benchmark-Setting Processes in the EU. »

Short selling

ESMA publishes review on impact of short selling regulation

Mon, 03/06/2013 - 15:46

The European Securities and Markets Authority has published its technical advice evaluating the impact of the regulation on short selling and certain aspects of credit default swaps on European financial markets. »

Guernsey flag

Guernsey to co-operate with European securities regulators on cross-border supervision of AIFs

Fri, 31/05/2013 - 14:37

The European Securities and Markets Authority (ESMA) has approved the co-operation arrangements between the Guernsey Financial Services Commission (GFSC) and the EU securities regulators for the supervision of alternative investment funds (AIFs), including hedge funds, private equity and real estate funds.  »

Jeremy Cox, chief executive of the Bermuda Monetary Authority

Bermuda approved as signatory for AIFMD cooperation with Europe

Fri, 31/05/2013 - 14:11

Bermuda has been approved as a signatory for the cooperation agreement with EU member states in relation to the Alternative Investment Fund Managers Directive (AIFMD). »

Anthony Masso, chief executive of Succession Systems

Succession Systems deploys market access risk solution for Newedge US and Canadian regulatory compliance

Fri, 31/05/2013 - 11:31

Succession Systems deploys market access risk solution for Newedge US and Canadian regulatory compliance. »

Geoff Cook, chief executive, Jersey Finance

ESMA approves Jersey AIFMD cooperation agreement

Fri, 31/05/2013 - 10:09

The European Securities and Markets Authority (ESMA) has approved a cooperation agreement with Jersey to ensure it can continue to deliver alternative investment funds business into Europe after the introduction of the EU Alternative Investment Fund Managers Directive (AIFMD) in July. »

Steven Maijoor, ESMA chair

ESMA promotes global supervisory co-operation on alternative funds



Thu, 30/05/2013 - 14:08

The European Securities and Markets Authority (ESMA) has approved co-operation arrangements between EU securities regulators, with responsibility for the supervision of alternative investment funds (AIFs), including hedge funds, private equity and real estate funds, and 34 of their global counterparts. »

Andrew Baker, AIMA chief executive

AIMA highlights areas for deeper coordination of OTC derivatives regulations

Tue, 28/05/2013 - 12:01

The Alternative Investment Management Association (AIMA), the hedge fund industry association, has produced a paper that highlights the key areas where deeper coordination of over-the-counter (OTC) derivatives regulation is required to achieve the G20 objective of maintaining global markets. »

Report

Vcheck Global protects hedge funds with accredited investor reports

Tue, 21/05/2013 - 16:20

Securities and Exchange Commission chairman Elisse Walter has voiced concerns over potential increased investment losses by qualified but unsophisticated “accredited investors”. »

Sebastien Danloy, RBC Investor & Treasury Services

What is the AIFMD state of play?

Tue, 21/05/2013 - 13:02

With just over eight weeks to go before the AIFMD transposition deadline, Sebastien Danloy (pictured), Head of Investor Services Europe and Offshore at RBC Investor & Treasury Services, comments on late implementation and its effects on asset managers… »

Professor Jon Rushman

Governments should be nervous about Bitcoin, says Rushman

Tue, 21/05/2013 - 10:04

 Professor Jon Rushman believes that in the long term cyber currencies like Bitcoin could see the end of central banks and foreign exchange and so it is understandable governments are nervous about it. »

Samer Ojjeh, principal in the financial services office, New York at Ernst & Young

Severing AIFMD's Gordian knot

Tue, 21/05/2013 - 06:21

Managers need to start performing a rational cost benefit analysis on the Alternative Investment Fund Managers Directive (AIFMD) and to strip out the emotion, says Ernst & Young. »

BVI International Finance Centre

The BVI funds industry: dynamic, robust and responsive

Mon, 20/05/2013 - 10:08

By Nadia Menezes, Senior Associate, Appleby – Since the introduction of the Mutual Funds Act, 1996, the British Virgin Islands (BVI) has grown from a fledgling jurisdiction to a strong and confident player at the frontline of the offshore funds industry. »

Gary Gensler, Chairman, CFTC

Final block rule for swaps is critical for transparency

Fri, 17/05/2013 - 12:59

The final block rule for swaps is critical to promoting transparency in this once opaque market, says US Commodity and Futures Commission Chairman, Gary Gensler… »

Irish flag

Central Bank of Ireland launches AIFMD regime

Thu, 16/05/2013 - 14:10

The Central Bank of Ireland has issued the necessary application forms and accompanying rules to allow alternative investment fund managers (AIFMs) and alternative investment funds (AIFs) to apply for authorisation under the new Alternative Investment Fund Managers Directive (AIFMD). »

Nicola Smith, chief executive of Helvetic

EU proposal will only cause more confusion, says Helvetic

Fri, 10/05/2013 - 11:45

In light of continual struggles from European fund managers to comply with the impending AIFMD directive, Nicola Smith, chief executive of hedge fund administrator Helvetic, says that plans by the European Commission to introduce liquidity buffers and leverage caps on financial firms have come at the most inopportune time. »

Regulation

Impact of new regulations top concern in addressing systemic risks

Fri, 10/05/2013 - 10:05

The impact of new regulations in the financial services industry is by far the most important systemic-risk concern facing the global capital markets, according to a recent client survey conducted by The Depository Trust & Clearing Corporation (DTCC). »

Gus Black, Dechert

Understanding the legal issues of structuring a hedge fund and Fund Management Company

Tue, 07/05/2013 - 06:00

One of the discussion panels at the Bloomberg Hedge Fund Start-up Conference on 28 November 2012 in London explored some of the legal issues start-up managers need to think about when establishing both the fund, and the fund management structure. Entitled Legal: Getting it Right from the Start, the panellists included Gus Black, Dechert LLP (pictured); Richard Perry, Simmons and Simmons LLP and Chris Hilditch, Schulte Roth & Zabel LLP. »

Cayman's Premier Juliana O'Connor-Connolly

Cayman commits to G5 multilateral exchange pilot

Fri, 26/04/2013 - 14:01

The Cayman Islands has indicated to the UK government that it is committed to joining the G5 pilot, recently announced by the UK, France, Germany, Italy and Spain, on multilateral automatic exchange of tax information. »

Geoff Cook, chief executive of Jersey Finance

Jersey Finance welcomes DTA with Luxembourg

Mon, 22/04/2013 - 11:34

Jersey Finance has welcomed the signing of a Double Taxation Agreement (DTA) between the authorities in Jersey and Luxembourg. »

Regulation

IOSCO consults on principles for financial benchmarks

Wed, 17/04/2013 - 12:00

The International Organisation of Securities Commissions (IOSCO) has published a consultation paper on Principles for Financial Benchmarks, which seeks public comments on a set of high-level principles for benchmarks used in global financial markets. »

Regulation

Man Group makes changes to its regulatory capital position

Thu, 11/04/2013 - 16:00

Man Group has confirmed with the Financial Conduct Authority (FCA) the change of its regulatory status from being a Full Scope Group to a Limited Licence Group. »

Laurent Vanderweyen, Luxembourg chief executive and head of fund services, Alter Domus

Alter Domus to provide AIF depository services

Wed, 10/04/2013 - 10:06

Alter Domus, a provider of administration services for alternative investment funds and multinational corporations, will be offering depositary services in Luxembourg and expects to be in the first wave of regulatory approvals. »

Jay Gould, partner, Pillsbury Winthrop Shaw Pittman LLP

SEC puts hedge fund managers on notice regarding compensation arrangements for sales

Tue, 09/04/2013 - 14:37

By Jay Gould, partner, Pillsbury Winthrop Shaw Pittman LLP – In a speech before the American Bar Association’s Trading and Markets Subcommittee on 5 April, 2013, David Blass, the Chief Counsel of the Division of Markets and Trading, put hedge fund managers and private equity fund managers on notice that they may be engaged in unregistered (and therefore, unlawful) broker dealer activities as a result of the manner by which hedge fund managers compensate their personnel and, in the case of private equity fund managers, the receipt of investment banking fees with respect to their portfolio companies. »

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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