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Legal & Regulation

Regulation

Final FATCA regulations released

Thu, 07/02/2013 - 11:57

By Richard Cassell and Kristin Konschnik, partners, Withers – The US Treasury Department has now released the long-anticipated final FATCA regulations (the ‘Regulations’), which build upon the foundation of the proposed regulations but contain some significant additions and modifications. »

Steven Maijoor, ESMA Chair

ESMA issues guidelines on market-making and primary dealer exemptions

Sun, 03/02/2013 - 17:41

The European Securities and Markets Authority (ESMA) has published its final Guidelines and a Feedback Statement on the Exemption for market making activities and primary market operations under the Short Selling Regulation.  »

Alex Ohlsson, Carey Olsen's managing partner

New association between Carey Olsen and Hempel and Boyd

Tue, 29/01/2013 - 06:02

Offshore law firms Carey Olsen and Hempel and Boyd are entering into an association to provide their clients with British Virgin Islands (BVI), Cayman Islands, Guernsey and Jersey legal services. »

Clock

UK gives firms an extra year to comply with AIFMD

Mon, 28/01/2013 - 16:11

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. »

Tax

Dion launches FATCA TRAC Indicia Check Service

Mon, 28/01/2013 - 14:18

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. »

Gary Linford, managing director of HighWater

CIMA initiates private funds sector consultation process

Mon, 28/01/2013 - 12:18

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. »

Peter Heaps, managing director, Carne Cayman Islands

Carne welcomes CIMA consultation on governance of Cayman Islands funds

Mon, 21/01/2013 - 06:11

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. »

Brian Forrester, investment partner at Deloitte

HM Treasury consultation paper goes beyond AIFMD minimum rules, says Deloitte

Wed, 16/01/2013 - 14:09

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, partner, Deloitte

HM Treasury consultation paper goes beyond AIFMD minimum rules

Tue, 15/01/2013 - 13:36

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

Tax

Markit and CTI launch FATCA compliance service for global fund industry

Tue, 08/01/2013 - 12:06

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). »

SEC

Rajaratnam to pay USD1.47m over insider trading charges

Tue, 01/01/2013 - 17:09

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). »

Regulation

New European regulations will put compliance pressures on US alt fund managers, says KPMG survey

Tue, 01/01/2013 - 09:25

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. »

Magnifying glass

ESMA clarifies rules for alternative investment funds and their managers

Thu, 27/12/2012 - 06:11

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

Heather Bestwick, deputy chief executive, Jersey Finance

Jersey cites business as usual following publication of AIFMD rules

Mon, 24/12/2012 - 14:10

Jersey is ideally placed to embrace the requirements of the Alternative Investment Fund Managers Directive (AIFMD), according to Jersey Finance and the Jersey Funds Association, following the publication of the European Commission’s Level II implementation rules this week. »

Guernsey flag

Guernsey well advanced on AIFMD preparations

Mon, 24/12/2012 - 06:13

Guernsey is well on the way to introducing a funds regime which is compliant with the EU’s proposed Alternative Investment Fund Managers Directive (AIFMD). »

Marc Saluzzi, chairman of ALFI

AIFMD Level 2 brings alternative investment fund industry closer to reality, says ALFI

Fri, 21/12/2012 - 16:12

The establishment of a regulated alternative investment industry in Europe took a major step forward with the publication of the European Commission’s so-called “Level 2 measures” to supplement certain elements of the Alternative Investment Fund Manager Directive (AIFMD), says the Association of the Luxembourg Fund Industry (ALFI). »

Dominique Lecocq, lecocqassociate

Formation procedure for Islamic Funds in the DIFC

Fri, 21/12/2012 - 09:28

By Dominique Lecocq, lecocqassociate – This article will focus on the formation requirements of a domestic exempt Islamic fund (“IEF”) in the Dubai International Financial Centre (“DIFC”) – a recognised free zone in the United Arab Emirates with its independent regulator named the Dubai Financial Services Authority (“DFSA”). »

Andrew Baker, AIMA chief executive

AIMA reponds to final AIFMD implementation text

Thu, 20/12/2012 - 06:15

The Alternative Investment Management Association (AIMA) has responded to the publication of the final text of the implementing measures of the Alternative Investment Fund Managers’ Directive (AIFMD) by the European Commission. »

Fraud

SFO charges Weavering founder Magnus Petersen with fraud

Sun, 16/12/2012 - 10:30

The Serious Fraud Office (SFO) has issued criminal proceedings against Magnus Peterson, a Swedish national and the founding director of Weavering Capital (UK) Limited.  »

Regulation

Sapient Global Markets to assist regulatory compliance for Eris Exchange customers

Wed, 12/12/2012 - 12:05

Sapient Global Markets has been certified under the Eris Certified Implementation Partner Programme. »

Marc Saluzzi, chairman of ALFI

ALFI publishes best practices for Islamic funds in Luxembourg

Wed, 12/12/2012 - 06:14

The Association of the Luxembourg Fund Industry (ALFI) has published its collection of best practices for setting-up and servicing Islamic funds to provide a greater level of understanding and consistency of the requirements and expectations to this growing market sector. »

Isle of Man Chief Minister Allan Bell

Isle of Man further consolidates tax cooperation arrangements with UK

Mon, 10/12/2012 - 06:06

The Isle of Man Government has confirmed that it will be adopting tax information sharing arrangements with the UK which will follow closely the FATCA intergovernmental agreement currently being negotiated with the US. »

Simon Schilder, Ogier BVI corporate and investment funds partner

BVI to introduce new investment manager licence for smaller hedge funds

Thu, 06/12/2012 - 12:01

The British Virgin Islands Financial Services Commission (FSC), the jurisdiction’s financial regulator, has published guidelines for a new type of investment management licensing regime targeting non-institutional investment managers of small and mid-sized investment funds. »

Peter J Kalis, K&L Gates chairman and global managing partner

K&L Gates and Australia’s Middletons to combine

Wed, 05/12/2012 - 06:13

The partners of global law firm K&L Gates and Australian national firm Middletons have voted unanimously to combine firms effective 1 January 2013. »

Report and magnifying glass

Hedge fund ODD best practices launched by Rothstein Kass

Tue, 04/12/2012 - 16:05

In an effort to help establish a better framework for the hedge fund operational due diligence (ODD) process, professional services firm Rothstein Kass has launched a set of best practice ODD guidelines. »

Steven Maijoor, ESMA chair

EU and Swiss regulators to co-operate on cross-border supervision of alternative investment funds

Tue, 04/12/2012 - 06:01

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

Crystal ball

Execution and payment models for European equities to undergo change in 2013, says Tabb

Mon, 03/12/2012 - 15:49

The impact of regulation on liquidity and reduced order flows remain top priorities for over 75 per cent of the European head traders at buy-side firms currently managing an aggregate EUR14trn in assets.  »

Hon Gilbert Licudi, Gibraltar’s minister with responsibility for financial services

Gibraltar and Mexico sign Tax Information Exchange Agreement

Mon, 03/12/2012 - 14:03

Gibraltar has signed a Tax Information Exchange Agreement (TIEA) with Mexico, the 22nd TIEA agreed by the Government of Gibraltar. »

Deputy Peter Harwood, Chief Minister of Guernsey

Crown Dependencies meet with HM Treasury on ‘UK FATCA’

Mon, 03/12/2012 - 09:43

The Chief Minister of Guernsey, Deputy Peter Harwood (pictured), and the Chief Minister of Jersey, Senator Ian Gorst, have released a joint statement following their recent meeting with officials from HM Treasury in relation to UK proposals to introduce similar measures as the US Foreign Account Tax Compliance Act (FATCA). »

Money transfer

Amber Partners issues white paper on cash transfer controls

Mon, 03/12/2012 - 06:55

Amber Partners, an operational risk certification firm for the hedge fund industry and specialist in hedge fund operational due diligence, has issued a white paper looking at cash transfer controls. »

features
Article
Preqin Special Report: Hedge Fund Manager Outlook – Augst 2015

In this excerpt from Preqin Special Report: Hedge Fund Manager Outlook, we take a closer look at the level of competition in the industry today and use our latest survey results to reveal fund manager predictions for asset growth for the rest of 2015. ... »

Article
survey

The Preqin Special Report: Private Debt Fund Manager Outlook features exclusive survey results drawn from over 100 private debt fund managers worldwide. This extract discusses what fund managers have highlighted as the biggest issues facing the industry and their views on regulation. ... »

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.  ... »

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