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Legal & Regulation

Trading screens

GRC partners with REGIS-TR to provide EMIR-compliant trade reporting services

Thu, 09/01/2014 - 16:01

Global Reporting Company (GRC) and REGIS-TR have teamed up to provide buy-side and corporate clients with European Market Infrastructure Regulation (EMIR) compliant trade reporting services. »

Magnifying glass

FSB and IOSCO consult on identifying NBNI G-SIFIs

Thu, 09/01/2014 - 10:58

The Financial Stability Board (FSB) and the International Organisation of Securities Commissions (IOSCO) have published a consultation document on global systemically important financial institutions (G-SIFIs). »

Money scales

Settlement agreements reached with JPMorgan Chase in Madoff Fraud

Wed, 08/01/2014 - 16:07

Irving H Picard, SIPA Trustee for the liquidation of Bernard L Madoff Investment Securities (BLMIS), has filed two motions with the US Bankruptcy Court seeking approval of recovery agreements totalling USD543m for BLMIS customers. »

Document signing

FERC and CFTC sign MOUs on jurisdiction and information sharing

Mon, 06/01/2014 - 06:07

The Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC) have signed two memoranda of understanding (MOU) to address circumstances of overlapping jurisdiction and to share information in connection with market surveillance and investigations into potential market manipulation, fraud or abuse. »

Information sign

Firms must not take foot off the gas despite relaxation of AIFMD deadline

Fri, 03/01/2014 - 12:49

Anthony Rawlins, compliance manager at Moore Stephens, advises on the top tips to consider in wake of the Alternative Investment Fund Managers Directive (AIFMD) transitional arrangements update… »

Barred sign

NFA orders Cap Ex Partners to permanently withdraw from membership

Fri, 03/01/2014 - 12:36

The National Futures Association (NFA) has ordered Cap Ex Partners, a commodity trading advisor located in Westminster, California, to permanently withdraw from NFA membership. »

Approved stamp

CFTC approves comparability determinations for six jurisdictions for substituted compliance

Fri, 27/12/2013 - 10:30

The Commodity Futures Trading Commission has approved a series of broad comparability determinations that would permit substituted compliance with non-US regulatory regimes as compared to certain swaps provisions of Title VII of the Dodd-Frank Act and the Commission’s regulations.  »

Singapore

CFTC issues time-limited no-action letter for Singapore Exchange Derivatives Clearing

Tue, 24/12/2013 - 11:15

The Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) has issued a time-limited no-action letter to the Singapore Exchange Derivatives Clearing Limited (SGX-DC). »

Crystal ball

Regulatory changes won’t prevent future crash, says survey

Mon, 23/12/2013 - 15:07

Just three per cent of financial services professionals polled globally believe that the regulatory changes implemented since 2008 have done enough to prevent a future crash, according to a survey by Kinetic Partners. »

Fiona Le Poidevin, chief executive of Guernsey Finance

Optionality and substance in a world with AIFMD

Mon, 23/12/2013 - 10:05

With Guernsey’s new opt-in AIFMD equivalent regime effective from 2 January 2014, Fiona Le Poidevin, chief executive of Guernsey Finance, explores how the island offers optionality and substance to fund managers. »

Fraud

SEC charges ConvergEx subsidiaries with fraud

Fri, 20/12/2013 - 15:01

The Securities and Exchange Commission has filed fraud charges against three brokerage subsidiaries and two former employees of a global trading services provider. »

Coffee beans

Nunn to pay USD600,000 over illegal coffee futures trading scheme

Fri, 20/12/2013 - 14:04

David M Nunn has been fined USD600,000 for entering into fictitious sales, engaging in illegal non-competitive and fictitious trades in coffee futures contracts over a two-year period, and making false statements to representatives of ICE Futures US.  »

Regulation

UK Treasury makes changes to AIFMD deadline

Fri, 20/12/2013 - 12:12

Important concessions by the UK Treasury in relation to the Alternative Investment Fund Managers Directive (AIFMD) have been announced, according to specialist financial services regulatory consultancy Bovill. »

Jigsaw pieces

Cayman law firms to merge

Fri, 20/12/2013 - 10:08

Two law firms in the Cayman Islands have agreed to merge early in the new year forming one of the strongest and most experienced practices in the Caribbean. »

Gavel

Court rules in favour of S&P Dow Jones Indices in ISE index action

Fri, 20/12/2013 - 06:46

A New York federal judge has ruled in favour of S&P Dow Jones Indices (SPDJI) and dismissed an action brought by International Securities Exchange (ISE) that challenged SPDJI’s rights to license its indices for use. »

KPMG logo

Are hedge funds living up to investors’ expectations?

Thu, 19/12/2013 - 13:32

Robert Mirsky, Global Head of Hedge Funds and a Partner at KPMG’s UK Financial Services Practice and Jon Mills, UK Head of Financial Services Audit and Global Head of Audit for KPMG’s Investment Management and Funds Practice – share their views with Hedgeweek on some of the macro trends evolving in the hedge fund industry. »

Tick

Amundi Alternative Investments obtains AIFM authorisation

Fri, 13/12/2013 - 13:57

Amundi Alternative Investments SAS (Amundi AI) has obtained AIFM authorisation from the French securities regulator (Autorité des Marchés Financiers) for all of its investment solutions. »

Gavel

SEC charges London-based hedge fund adviser and US holding company over internal control failures

Fri, 13/12/2013 - 12:02

The US Securities and Exchange Commission (SEC) has charged a London-based hedge fund adviser GLG Partners and its former US-based holding company with internal controls failures. »

William Stern, Goodwin Procter

Questions remain over new Volcker rule

Thu, 12/12/2013 - 19:41

William Stern (pictured), New York based Partner in Goodwin Procter LLP’s Financial Institutions Group, comments on the publication of the new Volcker rule…   »

Metal

LME completes technical delivery for EMIR

Thu, 12/12/2013 - 11:41

The London Metal Exchange (LME) has delivered the systems modifications to support its members and clearing house in response to the European Market Infrastructure Regulation (EMIR) requirements. »

Scales

Regulators struggling to balance protection with growth

Thu, 12/12/2013 - 06:00

Nearly half of financial services professionals (49 per cent) globally do not believe that any regulator has managed to strike the right balance between protecting investors and underpinning growth, according to a survey by Kinetic Partners. »

Confused man

‘Patchwork quilt’ of AIFMD requirements will deter non-EU firms

Wed, 11/12/2013 - 06:03

The “patchwork quilt” of regulatory requirements resulting from European Union member states exercising discretion under the Alternative Investment Fund Managers Directive is likely to deter many non-EU firms from operating in the market – but that need not be the case, according to Sturgeon Ventures, the regulatory incubator. »

Regulation

BNY Mellon launches AIFMD regulatory reporting service

Tue, 10/12/2013 - 12:09

BNY Mellon has launched a new service for fund managers that helps them identify, aggregate and manage the regulatory reporting requirements of the Alternative Investment Fund Manager’s Directive (AIFMD). »

Fiona Le Poidevin, chief executive of Guernsey Finance

Optionality and substance in a world with AIFMD

Mon, 09/12/2013 - 16:09

With Guernsey’s new opt-in AIFMD equivalent regime effective from 2 January 2014, Fiona Le Poidevin, chief executive of Guernsey Finance, explores how the island offers optionality and substance to fund managers. »

Douglas Shulman, Kinetic Partners

Methods for obtaining a successful US Securities and Exchange Commission (SEC) examination result

Mon, 09/12/2013 - 06:00

By Douglas Shulman, Director, Regulatory Compliance team, Kinetic Partners US LLP – Each General Counsel (GC) and Chief Compliance Officer (CCO) faces the innate pressure of preparing for an SEC exam and, ultimately, leading their firm to a successful result.  The best method(s) for preparation are consistently discussed, and often debated, at roundtables and seminars.  »

Philippe Matélic, Director, Regulatory Compliance Team, Kinetic Partners (Luxembourg) Management Company

Options for distributing funds into Europe under AIFMD

Fri, 06/12/2013 - 12:51

By Philippe Matélic, Director, Regulatory Compliance Team, Kinetic Partners (Luxembourg) Management Company – How to connect your ideas to the market: The fund industry is constantly generating new ideas.  But, as in other industries, each needs to move through from creation, to production and then distribution.  For the fund management industry, this focus on distribution is equally key.  »

Fiona Le Poidevin, chief executive of Guernsey Finance

Guernsey reveals opt-in AIFMD equivalent regime

Thu, 05/12/2013 - 16:07

The Guernsey Financial Services Commission (GFSC) has released a new set of rules which form an opt-in regulatory regime of measures equivalent to the Alternative Investment Fund Managers Directive (AIFMD). »

Don Steinbrugge, Agecroft Partners

City of Detroit pension benefits ruling to impact HFs

Wed, 04/12/2013 - 19:21

By Don Steinbrugge, Agecroft Partners – Judge Steven W Rhodes’ ruling that the City of Detroit is officially bankrupt and that pension benefits for public pension fund beneficiaries may be reduced will have major repercussions throughout the public pension fund industry.  »

Regulation

Indus Valley Partners launches 40 Act fund reporting functionality for hedge funds

Wed, 04/12/2013 - 12:33

Indus Valley Partners (IVP), a provider of technology solutions to alternative asset managers, has added a standard 40 Act rules library within the IVP Polaris data warehouse. »

Magnifying glass

Citicom Solutions partners with Doran Jones to distribute flagship compliance solution

Tue, 03/12/2013 - 14:09

Citicom Solutions has partnered with Doran Jones, a full-service financial services consultancy, to sell Citicom Assure, a product designed to provide proactive, real-time analysis of data, including instant messages (IMs), emails, text messages and mobile- and fixed-voice recordings. »

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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