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Legal & Regulation

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). »

Regulation

Chatham Financial expands regulatory services ahead of EMIR and AIFMD deadlines

Thu, 17/07/2014 - 14:00

Chatham Financial has launched new services within its consulting practice and ChathamDirect Software-as-a-Service (SaaS) platform to help fund managers navigate the Alternative Investment Fund Management Directive (AIFMD) and the European Market Infrastructure Regulation (EMIR). »

Electronic trading floor

SEC adopts first instalment of rules for cross-border security-based swap activity

Thu, 17/07/2014 - 12:17

The Securities and Exchange Commission (SEC) re-started its rulemaking for security-based swaps (SBS) under the Dodd-Frank Act by adopting a first instalment of rules that are applicable to SBS involving persons and entities located outside the US. »

Approved stamp

BNY Mellon gets AIFMD authorisation from the UK FCA

Wed, 16/07/2014 - 15:00

BNY Mellon has received formal approval from the UK’s Financial Conduct Authority (FCA) to provide trustee and depositary services to alternative investment funds (AIFs) under the Alternative Investment Fund Manager Directive (AIFMD). »

Computer screen

Convergence launches new product suite and website

Mon, 14/07/2014 - 16:10

Convergence, an information and advisory services provider to alternative asset managers, service providers and investors, has launched a new product suite and website. »

Regulation

Ex-regulators launch Newgate Compliance

Mon, 14/07/2014 - 15:00

Newgate Compliance, an independent consultancy offering bespoke compliance solutions to the global fund management industry, has officially launched. »

Survey

Majority of alt investment managers unprepared for AIFMD, says Alceda

Mon, 14/07/2014 - 14:02

With around a week to go before the deadline for authorisation, some 47 per cent of alternative investment fund managers have still not filed under the Alternative Investment Fund Management Directive (AIFMD). »

Clock

CFTC extends time limit for FCMs obtaining acknowledgement letters from depositories

Mon, 14/07/2014 - 10:06

The US Commodity Futures Trading Commission’s (CFTC) Division of Oversight will provide additional time for futures commission merchants (FCMs) to comply with Commission regulations requiring FCMs to obtain acknowledgement letters from certain depositories.  »

EU flag

ESMA defines central clearing of interest rate and credit default swaps

Mon, 14/07/2014 - 06:03

The European Securities and Markets Authority (ESMA) has launched a first round of consultations to prepare for central clearing of OTC derivatives within the European Union. »

Regulation

SEC provides Custody Rule guidance for private funds, SPVs and escrows

Tue, 08/07/2014 - 15:34

The US Securities and Exchange Commission has issued a new Guidance Update - “Private Funds and the Application of the Custody Rule to Special Purpose Vehicles and Escrows.” »

Approved stamp

SS&C GlobeOp depositary “Lite" service fully authorised

Tue, 08/07/2014 - 14:00

SS&C GlobeOp has obtained Financial Conduct Authority (FCA) approval for its Depositary “Lite" service offering. »

Des Pierce, SS&C GlobeOp

SS&C GlobeOp’s Des Pierce discusses the firm’s Depositary “Lite” solution under AIFMD

Tue, 08/07/2014 - 12:00

SS&C GlobeOp, one of the hedge fund industry’s leading administrators, is currently supporting European fund managers under the AIFMD’s Depositary “Lite” regime having recently gained authorisation from the UK’s Financial Conduct Authority. »

Computer screen

BlueBay selects Confluence for automated regulatory reporting solutions

Wed, 02/07/2014 - 06:29

BlueBay Asset Management, a manager of fixed income and alternative investment products, has chosen Confluence’s Unity NXT regulatory reporting solutions to automate its data reporting processes. »

features
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Hedgeweek Special Report: Prime Brokerage 2015

Read how prime brokers of all shapes and sizes are becoming both operational and balance sheet-efficient, and broadening out their product suites for hedge fund managers... »

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Lyxor Asset Management - Why trend-following strategies are back on track

This Hedgeweek Special Report explains not only why managed futures should be reconsidered by investors, but also how a more effective risk allocation strategy can benefit investor portfolios in both correlated and non-correlated markets... »

Article
Christiopher Elvin, Preqin

55% of private equity firms surveyed by Preqin at the end of 2014 stated they would deploy greater levels of capital in 2015, although 39% suggested it is more difficult to find attractive investments. Preqin’s Christopher Elvin comments: ... »

Special report
Cayman Islands Hedge Fund Services 2014

Cayman Islands Hedge Fund Services 2014

Fri, 19/12/2014 - 10:24

With service providers reporting growth in hybrid funds, funds for single investors and bespoke managed accounts, this report examines the regulations and new services being developed in Cayman to tackle the fast-changing offshore funds market... »

Article
Christopher ELvin, Preqin

977 private equity funds held a final close throughout the year raising a total of USD486bn, higher than any annual amount between 2009 and 2012, and on track to match the 2013 total. Preqin’s Christopher Elvin (pictured) reviews a year of private equity fundraising:  ... »

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