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Legal & Regulation

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. »

Ireland flag

Matheson provides insights into new Irish ICAV and future potential of UCITS in Asia

Mon, 20/01/2014 - 16:03

By James Williams – Irish law firm Matheson has provided an update from its London office on the introduction of a new corporate vehicle for Irish funds – the Irish Collective Asset Management Vehicle (ICAV). »

Clock

Over 80 per cent of fund managers have yet to seek AIFMD authorisation

Mon, 20/01/2014 - 14:00

Fewer than 20 per cent of alternative investment fund managers (AIFMSs) have submitted an application to their local regulator for Alternative Investment Fund Managers Directive (AIFMD) authorisation. »

Magnifying glass

Oppenheim Asset Management Services appoints KNEIP for AIFMD reporting

Mon, 20/01/2014 - 13:36

KNEIP has been appointed by Oppenheim Asset Management Services (OPAM) to carry out transparency reporting under the Alternative Investment Fund Management Directive (AIFMD). »

Prison bars

Ex-hedge fund manager sentenced to 15 years for USD5m fraud

Fri, 17/01/2014 - 14:09

Aleksander Efrosman, the former hedge fund manager who went on the run after defrauding his clients of over USD5m, has been sentenced to 15 years in prison. »

Gavel

CFTC charges Vertical Integration Group over off-exchange commodity transactions

Wed, 15/01/2014 - 06:02

The US Commodity Futures Trading Commission (CFTC) has filed a civil injunctive enforcement action against Vertical Integration Group, Richard V Morello and Junior Alexis.  »

Clouds

Deutsche Börse acquires enterprise software firm Impendium Systems

Tue, 14/01/2014 - 12:01

Deutsche Börse Market Data + Services has acquired Impendium Systems, a London-based firm that deploys cloud-based software solutions to help customers’ achieve regulatory compliance in Europe, North America and Asia-Pacific. »

Gibraltar

Gibraltar signs up to new international financial standard

Mon, 13/01/2014 - 16:02

Gibraltar has become a full signatory to the Multinational Memorandum of Understanding (MMoU) of the International Organization of Securities Commissions (IOSC). »

Approved stamp

INDOS Financial gets AIFMD depositary authorisation from FCA

Fri, 10/01/2014 - 13:38

INDOS Financial Limited has received authorisation from the Financial Conduct Authority (FCA) as an Article 36 Custodian to provide AIFMD depositary-lite services to non-EU alternative investment funds.  »

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. ... »

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