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Legal & Regulation

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. »

Money in hands

Client money proposals will increase costs for banks and brokers, says Deloitte

Thu, 29/11/2012 - 13:00

As the Financial Services Authority’s consultation on changes to the way investment firms handle cash on behalf of clients closes, business advisory firm Deloitte has identified 16 changes that are likely to increase costs for banks and brokers, and directly or indirectly raise trading costs for clients. »

Law books and gavel

CFTC charges Irish companies Intrade and TEN over off-exchange options trading

Tue, 27/11/2012 - 12:01

The US Commodity Futures Trading Commission has filed a civil complaint charging Intrade The Prediction Market and Trade Exchange Network (TEN), based in Dublin, Ireland, with offering commodity option contracts to US customers for trading, as well as soliciting, accepting and confirming the execution of orders from US customers, all in violation of the CFTC’s ban on off-exchange options trading.  »

Guernsey flag

New Guernsey office to increase Apex’s private equity services

Wed, 21/11/2012 - 16:16

Apex Fund Services has expanded its private equity services following regulatory approval to open an office in Guernsey. »

Paperwork

Fund managers view heavy regulation as key challenge in 2013

Wed, 21/11/2012 - 12:06

The majority (82 per cent) of fund managers feel that heavy regulation is the main issue facing the industry over the coming 12 months, according to research by KNEIP. »

Fraud investigation

SEC charges hedge fund firm CR Intrinsic over USD276m insider trading scheme

Tue, 20/11/2012 - 18:47

The Securities and Exchange Commission today charged Stamford, Connecticut-based hedge fund advisory firm CR Intrinsic Investors LLC and its former portfolio manager along with a medical consultant for an expert network firm for their roles in a USD276 million insider trading scheme involving a clinical trial for an Alzheimer’s drug being jointly developed by two pharmaceutical companies. »

Thumbs up

JP Morgan achieves major milestone in tri-party repo market reforms

Tue, 20/11/2012 - 14:03

JP Morgan has achieved a milestone in US tri-party repo market reform, completely eliminating more than a third of its intraday credit exposure related to the unwind of tri-party repos. »

Survey

Regulators’ plans may not stabilise financial services industry, say bosses

Tue, 20/11/2012 - 06:11

Half (52 per cent) of industry bosses think that current regulation will have little or no impact on making the financial services world more stable and three quarters (73 per cent) suggest it will have little or no improvement to the reputation of the industry. »

Regulation

FSB publishes recommendations to strengthen regulation of shadow banking

Mon, 19/11/2012 - 13:18

The Financial Stability Board (FSB) has published for public consultation an initial integrated set of policy recommendations to strengthen oversight and regulation of the shadow banking system. »

Brian Forrester, partner at Deloitte

FSA consultation affects how EU directive applies to UK investment managers

Mon, 19/11/2012 - 12:03

As the FSA launches a two-part consultation to transpose the Alternative Investment Fund Managers directive (AIFMD) into UK law, Deloitte, the business advisory firm, says the policy positions taken will affect how the directive applies to investment trusts, hedge fund managers and private equity managers. »

Peter Martyr, chief executive, Norton Rose

Norton Rose and Fulbright & Jaworski join forces

Thu, 15/11/2012 - 15:50

International legal practice Norton Rose is to combine with US law firm Fulbright & Jaworski on 1 June 2013 to form Norton Rose Fulbright. »

Regulation

Companies eye impact of new bank regs on trade finance costs

Fri, 09/11/2012 - 12:06

Eighty per cent of the 300 financial officers from large European companies taking part in Greenwich Associates 2012 European Trade Finance Study — and nine out of 10 from companies in the FT 500 — expect pricing on trade finance products and services to increase as a result of the implementation of Basel III. »

Financial burden

Bespoke services can beat the cost of compliance, says Helvetic

Fri, 09/11/2012 - 11:39

Hedge funds are starting to feel the burden associated with increased industry regulation, particularly small funds which are being forced to shut-up-shop in light of the costs needed to adhere to regulatory compliance, according to Paula Smith, head of asset management at PwC in the UK. »

Belinda Gibson, deputy chairman, ASIC

ASIC releases guidance on insolvency reforms

Fri, 09/11/2012 - 06:44

The Australian Securities and Investments Commission has released policy guidance on its power to wind up an abandoned company under new powers contained in the Corporations Act 2001. »

Computer screen

Indus Valley Partners deploys CPO-PQR and CTA-PR reporting functionality

Thu, 08/11/2012 - 10:09

Indus Valley Partners (IVP), a provider of technology solutions to alternative asset managers, has added CPO-PQR and CTA-PR reporting functionality to the firm’s regulatory filing and reporting application - IVP RAPTOR. »

Jon Gregory, partner at Solum Financial Partners

Quantifi releases whitepaper on calculating CVA capital charges under Basel III

Wed, 07/11/2012 - 12:03

Quantifi, a provider of analytics and risk management solutions for the global OTC markets, has published a joint whitepaper with consultant Jon Gregory exploring the difference in capital charges between the simple and more advanced approaches and the capital relief that can be achieved. »

Fiona Le Poidevin, chief executive of Guernsey Finance

Guernsey plans dual regime for AIFMD

Wed, 07/11/2012 - 07:02

Guernsey is planning to have two parallel regulatory regimes for investment funds as a way to best meet client needs when the EU’s Alternative Investment Fund Managers Directive (AIFMD) comes into force. »

Survey

Perceived benefits of hedge fund regulation deteriorating, says Ernst & Young

Mon, 05/11/2012 - 14:27

Despite increasing regulatory requirements for hedge funds, only 10 per cent of investors feel that regulations effectively protect their interests and 85 per cent of investors do not believe these requirements will help prevent the next financial crisis. »

features
Special report
Switzerland Hedge Fund Services 2015

Switzerland Hedge Fund Services 2015

Tue, 24/02/2015 - 19:14

New regulations are allowing hedge fund managers and institutional investors to take advantage of fresh opportunities in the Swiss market, from innovative new fund platforms to new fund strategies and structures that provide significant portfolio diversification opportunities... »

Article

The attraction of incubator platforms has increased noticeably in recent years. New hedge funds face a Sisyphus-like task getting up and running as global regulation and compliance pushes costs up, whilst investors simultaneously expect to see institutional quality operations in place from day one.     ... »

Special report
How to Access Europe using third party AIFMs

Read how managers seeking to distribute in Europe can appoint a third party AIFM (or ManCo), and the fund distribution benefits this can bring, both for new fund launches and redomiciled funds... »

Comment
Richard A Kimball Jr, CEO, HEXL

Healthcare costs continue to spiral out of control and yet still achieve relatively poor outcomes, says Richard A Kimball Jr (pictured), CEO of HEXL… ... »

Article

Six trends shaping the next generation

Tue, 10/02/2015 - 08:01

Just 20 years ago, exchange-traded funds (ETFs) were novelties. Now, after two decades of explosive growth, they are firmly entrenched in the asset management landscape. Total US-listed ETF assets reached a record-setting USD2.0 trillion at the end of 2014, up from USD1.7 trillion a year earlier, and inflows totaled USD244 billion for the year. European ETFs also saw record flows in 2014; they attracted USD61.4 billion in new assets, more than three times the 2013 total. ... »

specialreports