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Legal & Regulation

Joe Truelove, Carey Group

Protected cell companies for fund and non-fund structures

Thu, 26/02/2015 - 10:00

PCCs can be used for a wide variety of fund and non-fund structures within the investment world, writes Joe Truelove (pictured), Head of Fund Services at Carey Group. »

James Williams, Hedgeweek

Managers face Swiss Legal Representative requirement

Tue, 24/02/2015 - 20:22

The sands of time are running out for hedge fund managers wishing to continue distributing their funds to Swiss investors. As of 1 March 2015, any foreign hedge fund looking to raise assets in Switzerland from qualified investors will be required to appoint a Swiss legal representative and paying agent.  »

Richard Day, ML Capital

Montlake QIAIF Platform provides AIFMD solution

Thu, 19/02/2015 - 18:29

Hedge fund managers have two options when looking to bring a regulated fund product to Europe. The first is to go the UCITS route, the second is to establish an AIF, under the much more recent AIFM Directive, which is a far less trodden path than the UCITS regime.  »

Timothé Fuchs, Fuchs Asset Management

The art of orchestration as a European AIFM

Thu, 19/02/2015 - 18:26

Luxembourg-based Fuchs Asset Management is not your typical AIFM provider. Its heritage is firmly rooted in wealth management. Having now grown into a team exceeding 100 people, it took the decision to diversify its offering and set up an AIFMD-compliant management company, receiving its license from the CSSF last June.  »

Derek Delaney, DMS

Understanding the AIFMD distribution landscape

Thu, 19/02/2015 - 18:23

“I was in Chicago recently. A German pension fund said they had a USD500m allocation in a Chicago-based fund. They wanted to know that they could continue having a relationship with the manager and they said that having the depositary guarantee (under AIFMD) was important to their end investors. They told the manager that they wanted to put their USD500m allocation into an EU-regulated fund.  »

Gerhard Grueter, Lawson Conner

Setting up a hedge fund under AIFMD

Thu, 19/02/2015 - 18:20

The AIFM Directive may not be universally welcome but with greater focus being applied to compliance and operational risk oversight within the fund management industry, it is at least ensuring a new breed of higher quality fund manager; which for investors is good news.  »

Bobby Johal, Cordium

Owning an AIFM without the operational burden

Thu, 19/02/2015 - 18:18

Cordium, one of the industry’s leading regulatory and compliance firms, has devised a new offering for the European market to help managers overcome the marketing challenges of AIFMD.  »

Kavitha Ramachandran , Maitland Luxembourg

Extending AIFM license to PE and real estate funds

Thu, 19/02/2015 - 18:15

Last May, MS Management Services SA, a Luxembourg-based subsidiary of the Maitland group, received authorisation from the CSSF to act as a third-party AIFM to alternative investment funds. At the same time, it established its own umbrella fund platform, MS SICAV SIF, to support managers wishing to fast track the process of launching an AIFMD-compliant fund in Europe.  »

Dan Connell, ConceptOne

ESMA needs to clarify specific Annex IV issues

Thu, 19/02/2015 - 18:11

Ask any AIFM what the key regulatory challenge is under AIFMD and the response is unanimous: Annex IV reporting.  »

Guernsey flag

Managers continue to use Guernsey’s AIFMD private placement regime

Fri, 13/02/2015 - 16:00

As at 31 January 2015, 46 Guernsey Alternative Investment Fund Managers (AIFMs) have used the isand’s National Private Placement (NPP) regime to market Alternative Investment Funds (AIFs) into Europe. »

Gavel

Fund managers could face regulatory sanctions over EMIR

Wed, 11/02/2015 - 13:28

Tim Thornton, Chief Data Officer, Mitsubishi UFJ Fund Services, says fund managers could face regulatory sanctions over EMIR… »

gavel and law books

DTCC’s legal entity identifier service gathers significant momentum in 2014

Tue, 10/02/2015 - 10:30

The Depository Trust & Clearing Corporation’s (DTCC) Global Markets Entity Identifier (GMEI) utility, offered in collaboration with SWIFT, has issued over 165,000 legal entity identifiers (LEIs) to entities from over 140 jurisdictions, representing approximately 50% share of the LEIs issued worldwide. »

two fingers

SEC charges Direct Edge exchanges with failing to properly describe order types

Tue, 13/01/2015 - 13:00

Two exchanges formerly owned by Direct Edge Holdings and since acquired by BATS Global Markets are to pay a USD14 million penalty to settle SEC charges that their rules failed to accurately describe the order types being used on the exchanges.   »

Information sign

FFIs must be FATCA compliant as deadline approaches

Mon, 29/12/2014 - 14:00

Tim Thornton, Chief Data Officer at Mitsubishi UFJ Fund Services, comments on the December 31 FATCA deadline… »

gavel and scales

DBSI to pay USD3m to settle CFTC charges

Tue, 23/12/2014 - 10:00

The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against FCM Deutsche Bank Securities Inc) (DBSI) is to pay a USD 3 million civil penalty to settle CFTC charges relating to failures to properly invest customer segregated funds, prepare and file accurate financial reports, maintain required books and records, and related supervisory failures.  »

Louise Guillemette, Innocap

Customisation: Perspective on trading

Tue, 09/12/2014 - 10:40

By Louise Guillemette (pictured, above) and Poseidon Retsinas (pictured, left), both Legal Counsel at Innocap Investment Management – The managed account space is evolving from the traditional standardised and commingled offering toward customisation for single investors. Innocap offers its investors dedicated investment vehicles of multiple types, across multiple jurisdictions, featuring multiple fund administrators and service providers. »

Passports

Start doing a dry run for Annex IV reporting, urges SEI’s Henkel

Mon, 01/12/2014 - 18:20

The Annex IV report under AIFMD contains 38 specific questions for the AIFM and over 300 questions for each AIF being passported across the EU. To say that it is a complex beast is an understatement. »

James Williams, Hedgeweek

Product and legal innovations keep Ireland one step ahead

Thu, 20/11/2014 - 13:21

It is highly anticipated that Ireland will have a new corporate vehicle for Irish funds in place by the end of 2014: the Irish Collective Asset-Management Vehicle or ICAV. »

Dawn Howe, Walkers

FATCA: What's everyone else doing?

Fri, 26/09/2014 - 06:15

By Dawn Howe (pictured) and Michael Padarin, Walkers – From the point of view of a Cayman Islands investment funds lawyer it seems as if FATCA dawned on most clients around January 2014, even though it's been gestating for a number of years.  The wake up call was usually a GIIN request from the client's prime broker, resulting in a scramble to get up to speed and implement a FATCA compliance program within their fund complex. »

James Williams, Hedgeweek

Data management and reporting solutions are key to achieving operational efficiency

Tue, 23/09/2014 - 15:32

It’s a fair assumption to say that the proliferation of hedge fund regulation has spurred technology providers to produce newer, innovative solutions.  »

Approved stamp

Omni Partners obtains licence under AIFMD

Wed, 23/07/2014 - 14:02

The UK Financial Conduct Authority (FCA) has approved Omni Partners’ application for an authorised licence under the Alternative Investment Fund Managers Directive (AIFMD). »

Thumbs up

Capita Financial Managers (Ireland) granted AIFM licence

Wed, 23/07/2014 - 10:06

Capita Financial Managers (Ireland) Limited has been granted an alternative investment fund manager (AIFM) licence by the Central Bank of Ireland. »

Andrew Shrimpton, Kinetic Partners

Reporting should be key focus for UK AIFMs

Tue, 22/07/2014 - 15:48

Andrew Shrimpton (pictured), global head of regulatory compliance at Kinetic Partners, on what the next focus for UK AIFMs should be following the end of the AIFMD transitional period… »

Approved stamp

All companies in La Française Group are now authorised AIFMs

Tue, 22/07/2014 - 10:04

La Française Group has obtained AIFM approval for all its management companies. »

Regulation

AIFMD will bring ‘greater stability’

Mon, 21/07/2014 - 14:54

Arnaud Claudon, head of depositary banking, BNP Paribas Securities Services, says AIFMD will bring ‘greater stability’ to European alternatives market… »

Survey

Full compliance still some way off as AIFMD deadline arrives, says BNY Mellon

Mon, 21/07/2014 - 14:12

There is a compliance shortfall among alternative investment funds (AIFs) on the eve of the deadline for Alternative Investment Fund Managers Directive (AIFMD) authorisation, according to research by BNY Mellon. »

Gavel

NFA fines New York firm Forex Capital Markets USD200,000

Mon, 21/07/2014 - 12:08

The National Futures Association (NFA) has ordered Forex Capital Markets (FXCM), a registered retail foreign exchange dealer located in New York City, to pay a USD200,000 fine. »

Regulation

Two thirds of alternative managers are ready for AIFMD

Mon, 21/07/2014 - 11:27

Two thirds (64 per cent) of funds are ready for the deadline for implementation of the Alternative Investment Fund Managers Directive (AIFMD) on 22 July, according to a global survey of alternative investment fund managers. »

Regulation

Interactive Data launches solution to address AIFMD requirements

Fri, 18/07/2014 - 16:00

Interactive Data, a provider of independent evaluated pricing and reference data services, has introduced a solution to help financial institutions address the Alternative Investment Fund Managers Directive (AIFMD). »

Risk

Thomas Murray Data Services launches risk solution for depositary banks under AIFMD

Fri, 18/07/2014 - 14:30

Thomas Murray Data Services has launched a suite of products and has been working with a number of depositary banks to provide a total risk solution to ensure depositary bank compliance with the Alternative Investment Fund Managers Directive (AIFMD). »

features
Article
Survey

In an excerpt from the Preqin Investor Outlook: Alternative Assets H1 2015, exclusive Preqin survey results reveal that while industry performance has been poor, investors remain committed to the asset class. ... »

Article

Fund managers and investors are in a tug-of-war over the issue of transparency. Once content with a performance update, basic valuation and general market commentary, Limited Partners (LPs) are now digging deeper, asking more questions and requiring more information from General Partners (GPs) than ever before. ... »

Article
Up arrow

In an excerpt from the Preqin Investor Outlook: Alternative Assets H1 2015, the spotlight is on investors’ attitudes towards alternative private real estate exposure.  ... »

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... »

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... »

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