Legal & Regulation

Third party funding, where investors who have no other connection with litigation support legal claims in exchange for a financial return, is starting to take-off in the UK with a number of funds having been set-up to invest specifically in litigation. »

The European Fund and Asset Management Association says it welcomes the end to the uncertainty that has faced fund managers of all non-Ucits investment funds since the European Commission’s initial proposals for legislation in April 2009, following the approval of the Alternative Investment Fund Managers Directive by the European Parliament. »

The Swiss Funds Association has welcomed the European Parliament’s decision to pass the EU Directive on Alternative Investment Fund Managers. »

New European Union-wide rules on the marketing of alternative investment funds overcame the final hurdle this afternoon when the European Parliament adopted, by 513 votes to 92 with three abstentions, the Directive on Alternative Investment Fund Managers. »

Insurance company Ageas has received full support from the Commercial Court of Brussels in summary proceedings against certain hedge fund owners of mandatory convertible securities. »

Offshore jurisdictions should join forces to lobby larger nations and international organisations on matters affecting them, according to members of the offshore financial services industry. »

A&L Goodbody remains the leading Irish legal adviser to the Irish funds industry, representing domiciled and non-domiciled funds with a combined asset value in excess of USD238bn, according to the Lipper Ireland Fund Encyclopaedia 2010/2011. »

Citigroup says its trustworthiness as a bank is intact following Thursday's court victory over private equity group Terra Firma Capital Partners. »

The UK asset management industry needs to considerably ramp up its plans for responding to the Alternative Investment Fund Managers Directive as only two per cent of the industry currently has a plan in place that is being implemented. »

The Life & Longevity Markets Association has launched a series of technical publications that aim to bring the creation of a longevity market a step closer.  »