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Legal & Regulation

Law books and gavel

CFTC charges RP Martin Holdings with manipulation of Yen Libor

Fri, 16/05/2014 - 11:31

The US Commodity Futures Trading Commission (CFTC) has issued an order against RP Martin Holdings Limited, and its subsidiary Martin Brokers (UK) Limited, filing and settling charges of manipulation and attempted manipulation of the London Interbank Offered Rate (Libor) for Yen.  »

London

ConceptONE to open London office

Thu, 15/05/2014 - 14:02

ConceptONE, a provider of risk and regulatory reporting solutions for the global asset management industry, is opening its first European office in London. »

Regulation

CFTC streamlines CPO registration relief

Wed, 14/05/2014 - 06:31

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) is introducing a streamlined approach for requests for registration of no-action relief from commodity pool operators (CPO) who delegate certain activities to a registered CPO. »

Approved stamp

Central Bank of Ireland approves DMS AIFM passporting application to Luxembourg

Tue, 13/05/2014 - 16:00

DMS Offshore Investment Services has received approval from the Central Bank of Ireland for its AIFM passporting application to Luxembourg. »

Malta

Loan funds in Malta – Licensing and regulation

Mon, 12/05/2014 - 14:09

By Dr Charles Cassar, Malta – The Malta Financial Services Authority (MFSA) has recently clarified its position with respect to the licensing and regulation of loan funds in Malta. In this regard the MFSA issued supplementary standard licence conditions (SLCs) which apply to prospective Malta loan funds in addition to the applicable Investment Services Rules for Alternative Investment Funds/ Investment Services Rules for Professional Investor Funds, depending on whether the loan fund falls within the de minimis thresholds or fully AIFMD complaint regime.  »

Gavel

European Court of Justice decision to result in EUR3bn tax refund for non-EU funds

Fri, 09/05/2014 - 16:10

The European Court of Justice (ECJ) has delivered a landmark ruling that will open the doors for investment funds based outside of the EU to reclaim billions of withholding tax levied by EU governments. »

Letter

CFTC issues no-action letter for OTC Clearing Hong Kong Limited

Fri, 09/05/2014 - 06:00

The US Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) has issued a time-limited no-action letter for OTC Clearing Hong Kong Limited. »

Frozen assets

SEC freezes assets of hedge fund advisory firm Aphelion Fund Management

Thu, 08/05/2014 - 16:00

The Securities and Exchange Commission (SEC) has charged Aphelion Fund Management and two executives with fraud for distributing falsified performance results to prospective investors in two hedge funds. »

Regulation

SGSS Ireland launches Depositary Lite service offering

Wed, 30/04/2014 - 06:30

Societe Generale Securities Services (SGSS) Ireland has launched a “Depositary Lite” service offering to support European and non-European asset managers in meeting the requirements of the AIFMD. »

Gavel

Tunney & Associates to pay USD100,000 penalty for improper audits of FCM

Wed, 30/04/2014 - 06:02

Accounting firm Tunney & Associates (T&A) and owner Michael Tunney are to pay a USD100,000 civil monetary penalty for violating CFTC Regulations when conducting audits for The Linn Group (TLG). »

Perrie Michael Weiner, DLA Piper

SEC to funds: If you tell others what you hold or what you intend to buy, you “cross the line.” Funds to SEC: “Really?”

Mon, 28/04/2014 - 14:18

By Perrie Michael Weiner (pictured) and Patrick Hunnius at international law firm DLA Piper – In the past few weeks, there has been much press attention and debate regarding the legal i »

Computer screen

Cordium partners with IVP to offer AIFMD Annex IV and Form PF reporting solution

Fri, 25/04/2014 - 06:02

Cordium, a provider of compliance consulting, accounting, tax and software, is partnering with financial services technology specialist Indus Valley Partners (IVP) to help clients meet the Alternative Investment Fund Managers Directive’s (AIFMD) stringent Annex IV reporting requirements. »

Gavel

SEC charges technology company insider with tipping information exploited by hedge funds

Thu, 24/04/2014 - 10:17

The Securities and Exchange Commission has filed insider trading charges against a former accounting manager at Nvidia Corp, who tipped a friend with confidential company information that set in motion a chain of tipping and illegal trading among a network of hedge fund traders who reaped millions of dollars in illicit gains. »

Announcement

HFSB launches ‘governance and internal processes’ toolbox

Thu, 17/04/2014 - 06:40

The Hedge Fund Standards Board (HFSB) has launched a Toolbox to provide guidance to managers and investors on issues relating to fund manager governance and internal processes. »

Social media

SEC allows broader use of social media for investment manager advertising

Wed, 16/04/2014 - 06:03

The US Securities and Exchange Commission (SEC) has issued guidance to assist investment managers in applying Section 206(4) of the Investment Advisers Act of 1940 to their use of social media.  »

Electronic trading floor

CFTC issues ‘no-action letter’ for swaps trading on EU multilateral trading facilities

Thu, 10/04/2014 - 16:00

The Commodity Futures Trading Commission’s (CFTC) Divisions of Market Oversight (DMO) and Swap Dealer and Intermediary Oversight (DSIO) have issued a no-action letter with respect to swaps trading on multilateral trading facilities overseen by authorities designated by European Union member states. »

Fiona Le Poidevin, Guernsey Finance

What a third country offers asset managers under AIFMD

Tue, 08/04/2014 - 16:42

AIMA CEO Andrew Baker recently commented that the complicated nature of AIFMD, the different interpretations of EU Member States and variety of approaches from third countries meant that fund managers are facing complex choices. Here, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance, explores what a third country can offer asset managers under AIFMD. »

Gavel and scales

CBOE wins appeal in ISE patent case

Tue, 08/04/2014 - 16:01

The United States Court of Appeals for the Federal Circuit has ruled in favour of the Chicago Board Options Exchange (CBOE) in a seven-year-old patent litigation with the International Securities Exchange (ISE). »

Report

CFTC releases rule enforcement review of OneChicago

Tue, 08/04/2014 - 14:25

The Commodity Futures Trading Commission’s division of market oversight has issued the results of a rule enforcement review of OneChicago.  »

Gavel

Customers of MF Global to begin receiving final restitution payments

Fri, 04/04/2014 - 16:00

The trustee for MF Global will begin making final distributions to satisfy its obligation of full restitution for USD1.212bn in losses sustained by customers when the company failed in 2011. »

Kevin Gundle

Investors will miss out on returns if they don’t navigate AIFMD barriers, says Aurum

Fri, 04/04/2014 - 15:04

The barriers for investment created by the Alternative Investment Fund Managers Directive (AIFMD) are still preventing investors from reaching European funds, despite solutions becoming available, according to Aurum. »

Monique Meils, Kinetic Partners

Balance is key to whistleblowing programs

Thu, 03/04/2014 - 09:49

Monique Melis (pictured), Global Head of Consulting at Kinetic Partners, the global professional services firm comments on whistle blowers… »

Regulation

FCA sets out its regulatory priorities for asset managers

Wed, 02/04/2014 - 12:01

The Financial Conduct Authority (FCA) has revealed its thematic supervisory plans for 2014/15 as a central part of its annual Business Plan. »

Regulation

Misys launches regulatory reporting service

Tue, 01/04/2014 - 16:00

Misys has launched a new regulatory reporting service, enabling corporates, fund managers and smaller banks to meet their EMIR-specific reporting requirements. »

Report

OTC derivatives regulators issue report to G20

Tue, 01/04/2014 - 11:53

The Over-the-Counter (OTC) Derivatives Regulators Group (ODRG) has issued a report that identifies the current list of remaining cross-border implementation issues related to global reform of OTC derivatives markets. »

Survey

Fund managers still concerned about AIFMD reporting, says Confluence

Tue, 01/04/2014 - 06:02

More than two-thirds (67 per cent) of alternative investment fund managers say they are still concerned about reporting to local regulators, despite nearly all (95 per cent) saying they feel informed on the requirements of AIFMD. »

Kenton Farmer, European head, OTC derivatives operations at SS&C GlobeOp

SS&C GlobeOp’s Kenton Farmer discusses EMIR Transaction Reporting Solution

Mon, 31/03/2014 - 13:02

As with any new piece of legislation, things tend to be a bit chaotic at the start and for European market participants EMIR Transaction Reporting has proved no exception. »

Tax

Luxembourg and the US sign Model 1 IGA

Mon, 31/03/2014 - 12:01

The US and Luxembourg governments have signed an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA). »

Slow

Investment managers behind the curve on FATCA prep, says SEI

Thu, 27/03/2014 - 06:01

Many investment managers are still coming to grips with the related operational, staffing, and budgetary requirements of the Foreign Account Tax Compliance Act (FATCA), according to a paper by SEI. »

Money and calculator

Cologny Advisors appoints SuMi TRUST as AIFMD depositary

Wed, 26/03/2014 - 12:33

SuMi TRUST Global Asset Services' trustee business, SMT Trustees (Ireland) Limited, has been appointed as the AIFMD depositary for Cologny Advisors’ Camox Fund. »

features
Special report
Commodities 2015: The outlook for investors

Investing in commodities can yield handsome returns, but investors need to focus sharply on timing and diversify their portfolios away from traditional safe havens and into sectors such as agriculturals and products such as ETFs. As one expert reveals in this special report, "Gold is not the only yellow commodity one should have in their portfolio"... »

Article
Spotlight

In an extract from the Preqin Special Report: Asia-Pacific Hedge Funds, we provide an overview of the industry in Asia-Pacific, covering assets under management as well as key locations, strategies, fund structures and more.  ... »

Article
up arrow

Assets under management for sovereign wealth funds globally reach USD6.31tn as of March 2015, increasing by more than USD900bn over the past 18 months. This information has been revealed in the 2015 Preqin Sovereign Wealth Fund Review, a comprehensive guide to these influential investors. ... »

Special report
Hedgeweek Global Awards 2015 – The Winners

Read the complete list of Winners and profiles at the sixth edition of the Hedgeweek Awards, presented in London's Mayfair and sponsored by Morgan Stanley, which brought together the leading names in the global hedge funds industry to celebrate the achievements of the best performing managers and service providers in 2014... »

Article
Hedgeweek Special Report: eVestment – The evolution of hedge fund investing

As revealed in this Hedgeweek Special Report sponsored by eVestment, the data, analytics and market intelligence provider to the institutional investment community, experts agree that investing in hedge funds represents a good way for institutions to access manager skill, which is key in constructing a diversified portfolio to achieve risk and return targets. ... »

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