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Legal & Regulation

UBS fined USD130,000 for exceeding position limits

UBS fined USD130,000 for exceeding position limits

Thu, 25/02/2010 - 12:06

The US Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against UBS for exceeding the New York Mercantile Exchange’s position limits on certain natural gas, heating oil and platinum futures contracts on more than one occasion between December 2006 and March 2008. »

SEC approves short selling restrictions

SEC approves short selling restrictions

Thu, 25/02/2010 - 10:47

The Securities and Exchange Commission has adopted a rule to place certain restrictions on short selling when a stock is experiencing significant downward price pressure. »

Academic attacks UK’s attraction to high taxes

Academic attacks UK’s attraction to high taxes

Wed, 24/02/2010 - 14:21

An academic report examining the fiscal challenges facing the Cayman Islands contains heavy criticism of the way the UK is addressing its own particular problems. »

Aima warns of protectionist provision in AIFM directive

Aima warns of protectionist provision in AIFM directive

Tue, 16/02/2010 - 11:53

The Alternative Investment Management Association has warned that a provision of the Alternative Investment Fund Managers Directive that is currently being debated in Brussels is protectionist. »

More than 200 hedge funds comply with Ucits III

More than 200 hedge funds comply with Ucits III

Wed, 10/02/2010 - 12:45

More than 200 hedge fund offerings now comply with Ucits III guidelines, according to Hedge Fund Research, a provider of data and analysis of the hedge fund industry. »

Threat of regulation puts pressure on US CDS markets

Threat of regulation puts pressure on US CDS markets

Mon, 08/02/2010 - 11:38

The threat of increased regulation in the US financial services sector kept widening pressure firmly on US corporate credit default swap markets throughout the end of January, according to a report by GFI Group. »

Corporations lack knowledge about OTC derivatives proposals

Corporations lack knowledge about OTC derivatives proposals

Thu, 04/02/2010 - 14:26

A Greenwich Market Pulse shows that corporations and financial institutions around the world broadly agree that moving OTC derivatives trading to a system of centralised clearing would be an effective means of managing both counterparty risk at an individual level and market-wide systemic risk. »

Ozannes and Mourant to merge

Ozannes and Mourant to merge

Wed, 03/02/2010 - 12:53

Ozannes and Mourant du Feu & Jeune, two law firms in the Channel Islands, are planning to merge. »

Investment managers underestimate impact of AIFM directive

Investment managers underestimate impact of AIFM directive

Tue, 02/02/2010 - 15:24

Investment managers are failing to perceive the risks associated with the European Union’s Alternative Investment Fund Manager’s directive, according to a report by BDO. »

Ogier to offer Guernsey and Jersey legal and fiduciary services in Asia

Ogier to offer Guernsey and Jersey legal and fiduciary services in Asia

Sun, 31/01/2010 - 12:10

Offshore law firm Ogier is to offer Guernsey and Jersey legal and fiduciary services in Asia. »

Court grants protection over US assets of Cayman Islands fund

Court grants protection over US assets of Cayman Islands fund

Thu, 28/01/2010 - 13:01

The US Bankruptcy Court for the District of Delaware has granted protection over the US assets of a Cayman Islands exempted company in liquidation. »

Refund of withholding tax paves way for EU investment fund reclaims

Refund of withholding tax paves way for EU investment fund reclaims

Thu, 28/01/2010 - 06:20

Investment funds across the EU who are challenging unlawful application of withholding taxes levied on dividends can expect refunds of millions of euros following Norway's decision to refund withholding taxes to a Luxembourg Sicav, according to PricewaterhouseCoopers. »

FSA approves Xtrakter for regulatory reporting of derivatives

FSA approves Xtrakter for regulatory reporting of derivatives

Tue, 26/01/2010 - 16:09

The UK Financial Services Authority has approved Xtrakter to regulatory report exchange-traded derivatives using alternative instrument identifiers. »

News analysis: Uncertainty reigns as Obama targets banks’ ties to alternatives

News analysis: Uncertainty reigns as Obama targets banks’ ties to alternatives

Mon, 25/01/2010 - 10:47

US President Barack Obama’s call last Thursday for banks benefiting from a public safety net to be barred for “owning, investing in or sponsoring” private equity and hedge funds as part of wider strategy to curb excessive risk-taking by financial institutions that have benefited from public support, could have broad implications for the alternative investment industry well beyond the borders of the US. »

Malta publishes guidelines for redomiciliation of offshore funds

Malta publishes guidelines for redomiciliation of offshore funds

Tue, 12/01/2010 - 11:24

The Malta Financial Services Authority has published guidelines regarding the redomiciliation of offshore funds to Malta under the Companies Act, Continuation of Companies Regulations, 2002. »

Bahamas on track with information exchange agreements

Bahamas on track with information exchange agreements

Mon, 11/01/2010 - 06:26

The Bahamas has concluded Tax Information Exchange Agreement negotiations with 23 countries, signed ten agreements and will meet the G20/OECD’s March 2010 deadline of a minimum of 12 signed agreements. »

HMRC clarifies bank payroll tax

HMRC clarifies bank payroll tax

Tue, 22/12/2009 - 10:35

HM Revenue & Customs has clarified what constitutes a bank following its announcement on 9 December that it will be implementing a bank payroll tax. »

Law to enhance efficiency of fund re-domiciliation to Ireland

Law to enhance efficiency of fund re-domiciliation to Ireland

Mon, 21/12/2009 - 12:00

The Irish Funds Industry Association has welcomed new legislation passed by Seanad Éireann, the upper house of the Irish parliament, which will enable investment funds to re-domicile to Ireland simply and efficiently. »

Two Westpoint settlements reached in Australia

Two Westpoint settlements reached in Australia

Thu, 17/12/2009 - 06:02

The Federal Court of Australia has approved the settlement of a compensation claim initiated by the Australian Securities and Investments Commission for Bongiorno Financial Advisers clients who were advised to invest in York Street Mezzanine, a company within the failed Westpoint Group. »

Law firms Lovells and Hogan & Hartson to merge

Law firms Lovells and Hogan & Hartson to merge

Wed, 16/12/2009 - 15:02

The partners at law firms Lovells and Hogan & Hartson have decided to merge the two firms.  »

Hedge funds will face increased regulation, survey finds

Hedge funds will face increased regulation, survey finds

Mon, 14/12/2009 - 06:28

Hedge funds were not a major contributor to the stock market crash of 2008 and early 2009, but they are very likely to face increased regulation, according to the latest survey of the world’s media from Walek. »

Regulatory arbitrage a major threat in 2010, survey finds

Regulatory arbitrage a major threat in 2010, survey finds

Thu, 10/12/2009 - 15:58

Current attempts to tighten the regulation of financial services could lead to regulatory arbitrage among countries, according to a survey by advisory firm Kinetic Partners. »

Guernsey’s Chief Minister questions onshore/offshore divide

Guernsey’s Chief Minister questions onshore/offshore divide

Wed, 09/12/2009 - 07:13

Guernsey’s Chief Minister Lyndon Trott has told a major London conference that the island should not be “dismissively” compartmentalised as an offshore centre. »

Highland Capital Management settles Deutsche Bank suit

Highland Capital Management settles Deutsche Bank suit

Sun, 06/12/2009 - 11:48

Three hedge funds managed by Highland Capital Management have reached a settlement with Deutsche Bank pertaining to the funds' suit against Deutsche Bank and Deutsche Bank's suit against such funds, filed in October and November 2008. »

Revised EU directive threatens to topple London as leading financial centre

Revised EU directive threatens to topple London as leading financial centre

Wed, 02/12/2009 - 07:28

Sigma Partnership says it is becoming increasingly apparent to US, Asia and non-EU based managers and advisers that the EU directive is more protectionist than ever. »

Conyers to advise on Cyprus law

Conyers to advise on Cyprus law

Tue, 01/12/2009 - 15:50

Multi-jurisdictional law firm Conyers Dill & Pearman will be adding Cyprus legal advice to its roster of jurisdictions. »

Aima welcomes Swedish text for AIFM Directive

Aima welcomes Swedish text for AIFM Directive

Mon, 16/11/2009 - 06:05

The Alternative Investment Management Association has welcomed the work of the Swedish Presidency in producing compromise text for the Alternative Investment Fund Managers Directive. »

Fund advisers must prepare for regulatory changes, says Kinetic

Fund advisers must prepare for regulatory changes, says Kinetic

Wed, 11/11/2009 - 16:04

Kinetic Partners, a global professional services firm focused exclusively on the asset management industry, has emphasised the need for hedge fund and private equity fund advisers to take immediate action to prepare for the impending regulatory changes. »

CFTC amends reporting requirements for commodity pool operators

CFTC amends reporting requirements for commodity pool operators

Wed, 11/11/2009 - 12:06

The Commodity Futures Trading Commission has adopted amendments to its regulations regarding periodic and annual reporting requirements applicable to commodity pool operators. »

CFA members support directive’s requirements for fund managers

CFA members support directive’s requirements for fund managers

Thu, 05/11/2009 - 10:28

Ninety four per cent of respondents to a survey conducted by the CFA Institute Centre for Financial Market Integrity support mandatory requirements consistent with the proposed Alternative Investment Fund Managers Directive that managers of alternative investment funds act with honesty, fairness, and with the best interests of investors in mind. »

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… ... »

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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. ... »

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