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Legal & Regulation

Clock

Investors won't be engaged in AIFMD considerations by 2015, say fund managers

Tue, 18/02/2014 - 11:22

More than 50 per cent of fund managers, prospective clients and consultants attending a recent Northern Trust seminar on the European Union's Alternative Investment Fund Manager Directive (AIFMD) said they believed investors would still not be engaged in AIFMD considerations by December 2015. »

Information sign

FCA grants AIFMD reprieve

Mon, 17/02/2014 - 08:25

Andrew Lowin, Technical Director of Consulting at Kinetic Partners, comments on the FCA’s decision to give UK AIFM’s a reprieve on capital requirements under the AIFMD… »

Accounts

SGSS launches AIFMD reporting package for asset managers

Fri, 14/02/2014 - 12:38

Societe Generale Securities Services (SGSS) has launched an Alternative Investment Fund Managers Directive (AIFMD) reporting package for asset managers and their funds. »

Regulation

DMS Offshore Investment Services expands FATCA task force

Thu, 13/02/2014 - 14:15

Fund governance firm DMS Offshore Investment Services has expanded its FATCA task force with the addition of Alaina Danley, formerly director of finance at Bain Capital, and Jennifer Dimitri, formerly director of investment compliance at the University of North Carolina endowment system. »

Gavel and scales

Two Hong Kong-based firms to pay USD11m for insider trading

Wed, 12/02/2014 - 15:32

Two Hong Kong-based asset management firms, whose accounts were frozen in a major insider trading case by the Securities and Exchange Commission (SEC), have agreed to pay nearly USD11m to settle the charges against them. »

Gibraltar

Gibraltar is key to easing AIFMD concerns, says Helvetic

Wed, 12/02/2014 - 06:38

With just five months until the deadline for complying with the Alternative Investment Fund Managers Directive (AIFMD), hedge fund administrators are reporting that up to a fifth of fund managers are still not prepared. »

Trading screens

CFTC looks to promote trading on SEFs

Wed, 12/02/2014 - 06:03

The Commodity Futures Trading Commission is introducing measures to promote trading on swap execution facilities (SEFs). »

Ireland flag

Central Bank of Ireland confirms approach to passporting of MiFID-type services

Tue, 11/02/2014 - 15:26

The Central Bank of Ireland has confirmed that it will, with immediate effect, recognise the ability of authorised alternative investment fund managers (AIFMs) to passport the services described in Article 6(4) of the alternative Investment Fund Managers Directive (AIFMD). »

US flag

INDOS Financial launches AIFMD depositary-lite solution for US hedge fund managers

Tue, 11/02/2014 - 15:06

INDOS Financial, the first independent UK authorised depositary specialising in hedge funds, is planning to offer a depositary-lite solution to US and other non-EU hedge fund managers. »

Report

FIX Trading Community publishes initial guidelines of TCA best practices for equities

Tue, 11/02/2014 - 14:30

FIX Trading Community, the electronic trading standards body, has published recommended guidelines for transaction cost analysis (TCA) in equities. »

Regulation

Regulatory change slowing growth among financial services firms, says SunGard

Mon, 10/02/2014 - 11:42

Regulatory change is second only to market volatility as an executive issue for financial services firms, according to research by SunGard. »

Fraud

SEC brings fraud charges against two Wall Street traders involved in parking scheme

Wed, 05/02/2014 - 11:57

The SEC has charged two Wall Street traders involved in a fraudulent “parking” scheme whereby one temporarily placed securities in the other’s trading book to avoid penalties that would affect his year-end bonus. »

Fiona Le Poidevin, Guernsey Finance

Why AIFMD makes it MORE attractive to (re)domicile or co-domicile in Guernsey

Tue, 04/02/2014 - 19:14

By Fiona Le Poidevin – The implementation of AIFMD provides increased reasons to (re)domicile or co-domicile funds in the third country of Guernsey, says Fiona Le Poidevin, Chief Executive of Guernsey Finance. »

Gavel and scales

CFTC revokes registrations of Chicago Trading Managers

Tue, 04/02/2014 - 16:00

The US Commodity Futures Trading Commission (CFTC) has revoked the registrations of Chicago Trading Managers (CT Managers).  »

Short selling

SEC charges Bermudian investment adviser and principal for illegal short selling

Tue, 04/02/2014 - 14:31

The Securities and Exchange Commission (SEC) has filed a civil injunctive action against Revelation Capital Management and its principal, Christopher PC Kuchanny, alleging illegal short selling. »

Approved stamp

Kinetic Partners is first firm to be granted internal AIFM licence by CSSF

Tue, 04/02/2014 - 14:11

Kinetic Partners, the global professional services firm, is the first advisory and consulting group to be granted AIFM licensing by the Commission de Surveillance du Secteur Financier (CSSF). »

Trading screens

Calypso interfaces to DTCC GTR for EMIR reporting

Tue, 04/02/2014 - 13:21

Calypso Technology has released an interface to the DTCC’s global trade repository service (GTR) for EMIR (European Markets Infrastructure Regulation) reporting. »

Completed

ConceptONE RegERM platform completes first AIFMD Annex IV filing

Tue, 04/02/2014 - 09:00

ConceptONE has completed one of the first Alternative Investment Fund Managers Directive (AIFMD) Annex IV transparency reports.  »

Gavel

SEC charges two college professors in naked short selling scheme

Mon, 03/02/2014 - 11:47

The Securities and Exchange Commission (SEC) has charged a pair of Florida college professors with perpetrating a complex naked short selling scheme for more than USD400,000 in illicit profits. »

Electronic trading floor

Confisio and Traiana collaborate on EMIR reporting solution

Fri, 31/01/2014 - 06:43

Traiana has entered into a strategic alliance with Confisio Managed Services to provide a middleware trade reporting solution to Confisio clients in Cyprus ahead of the impending 12 February EMIR deadline.  »

Geoff Cook, chief executive of Jersey Finance

Jersey’s ‘future proof’ funds regime to be showcased to London audience

Thu, 30/01/2014 - 15:07

Jersey’s position as the first “third country” to offer the option of a fully-compliant AIFMD regime is set to be highlighted at Jersey Finance’s annual funds conference in London this year. »

Tax

Finance professionals risk reputations by ignoring tax

Thu, 30/01/2014 - 10:35

Fewer than four in ten of those working in banks, asset managers and hedge funds believe investments in corporate tax policy have a significant impact on reputation, according to a new report from Kinetic Partners. »

Magnifying glass

SEC issues risk alert on investment advisers’ due diligence when selecting alternatives

Wed, 29/01/2014 - 12:08

The Securities and Exchange Commission’s office of compliance inspections and examinations (OCIE) has issued a risk alert on the due diligence processes that investment advisers use when they recommend or place clients’ assets in alternative investments such as hedge funds, private equity funds, or funds of private funds.   »

Hugh Stevens

AIFMD: make sure you’re connected

Tue, 28/01/2014 - 06:05

Using an AIFMD compliant depositary network offers a range of benefits to support private equity and real estate fund managers. »

Cayman Islands

Cayman insolvency petitions on the rise

Mon, 27/01/2014 - 14:41

Insolvency petition filings in the Cayman Islands spiked more than 30 per cent in 2013 when compared with 2012, resulting in the highest number of filings in the past three years, according to Appleby. »

Law books and gavel

S&P Dow Jones Indices and CBOE conclude ISE index litigation

Mon, 27/01/2014 - 14:06

The International Securities Exchange (ISE) has not appealed a federal court decision that rejected ISE's attempt in the New York courts to challenge S&P Dow Jones Indices’ (SPDJI) rights to control the use of the S&P 500 and the Dow Jones Industrial Average as the basis of index options. »

Ron Kashden, founder, Ingenious Initiatives

Coping with regulatory reporting for your fund

Mon, 27/01/2014 - 09:08

By Ron Kashden, founder of Ingenious Initiatives – Just when you think the regulatory landscape couldn’t get any tougher, government agencies increase their reporting requirements. Whether it’s a US Commodity Futures Trading Commission (CFTC) rule or compliance with the Foreign Account Tax Compliance Act (FATCA), there is a growing burden to conform to government regulations. While there’s no doubt that a fund accountant’s job has become more complicated, there are measures that can be taken to lessen the load. Here are three tips that will help simplify reporting. »

Trading screens

CFTC announces trade execution mandate for additional interest rate swaps

Fri, 24/01/2014 - 11:07

The Commodity Futures Trading Commission’s (CFTC) division of market oversight has announced trueEX’s self-certification of available-to-trade determinations (MAT Determinations) for certain interest rate swap contracts. »

Approved stamp

Alter Domus is first professional depositary approved by the CSSF in Luxembourg

Fri, 24/01/2014 - 09:00

Alter Domus is the first service provider to be authorised by the Luxembourg Financial Regulator (CSSF) to act as a professional depositary.  »

Approved stamp

DMS Offshore Investment Services approved for AIF Management Company solutions

Thu, 23/01/2014 - 06:00

Fund governance firm DMS Offshore Investment Services’ (DMS) AIF Management Company has been approved by the Central of Bank of Ireland. »

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