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Sir Michael Bunbury, BH Global

BH Global adds to board

Wed, 18/01/2017 - 13:34

BH Global, a London-listed closed-ended investment company, has appointed Julia Chapman to the board of the company. »

Alex Evanton

Dolfin launches unconstrained credit strategy

Wed, 18/01/2017 - 13:14

Dolfin has launched the Dolfin Unconstrained Credit Strategy, which targets consistently positive returns in all market contexts by capturing top-down market shifts and investing in attractive bottom up opportunities across the global fixed income spectrum. »

Doug Nelson (pictured), Convergex

Convergex Prime Brokerage adds clients with over USD1bn in assets

Wed, 18/01/2017 - 13:02

Convergex’s Prime Brokerage business added new clients with a collective total of over USD1 billion in assets during 2016 and continues to see a steady increase in its international client base. »

A ‘KURE’ for regulatory fatigue: Koger Universal Regulatory Engine

Wed, 18/01/2017 - 11:03

By Ras Sipko (pictured), Koger USA – For the past four years, alternative fund managers with US investors have been coming to terms with the far-reaching effects of the Foreign Account Tax Compliance Act or FATCA. Some 60-plus countries have signed up to cooperate with the IRS in order to enforce FATCA and this year the compliance burden is set to grow yet again for international fund managers.  »

Geoff Ruddick, IMS Fund Services

Spotlight – A decade of independent governance

Wed, 18/01/2017 - 10:55

Q&A with Geoff Ruddick (pictured), IMS Fund Services – You mentioned in your last article that ‘Governance is not a game’ – can you expand on what you meant by that statement?  »

Martt Mulry, Dillon Eustace

Cayman LLC offers multiple applications to investment managers

Wed, 18/01/2017 - 10:49

The Cayman Limited Liability Companies Law (`LLC Law') was formerly introduced on 8 July 2016 and is expected to be used for a broad range of structuring situations.  »

Tim Min, BDO

Tax reporting under CRS to commence in 2017

Wed, 18/01/2017 - 10:45

The US Foreign Account Tax Compliance Act reporting cycle has been running now for two years. As such there is a good level of visibility in terms of how this tax reporting exercise needs to be done and most financial institutions are clear on the definitions used.  »

Giorgio Subiotto, Ogier

Avoiding sledgehammers to crack nuts

Wed, 18/01/2017 - 10:42

During the crisis in 2008, investors started to appreciate how important corporate governance was but it wasn't until 2013 that Cayman introduced the Statement of Guidance to provide a clear framework for best practices. This was followed by the Directors Registration and Licensing Law, 2014, which applies to all directors of Cayman registered mutual funds and requires them to be registered with or licensed by the Cayman Islands Monetary Authority.  »

James Williams, Hedgeweek

CIMA increases fund governance enforcement powers

Wed, 18/01/2017 - 10:35

The Cayman Government is currently proposing legislative changes which would give CIMA additional powers to impose administrative fines on licensed and regulated individuals and entities. The Monetary Authority (Amendment) Bill 2016 seeks to amend the Monetary Authority Law and if passed will enable CIMA to impose a range of penalties from non-discretionary fines of USD5,000 for a minor breach up to USD1 million for a serious breach. CIMA would be able to impose cumulative fines of up to USD20,000 for a single minor breach.  »

Rayal Bodden, Apex

People and process key to effective AML framework

Wed, 18/01/2017 - 10:25

As global asset management groups increasingly adopt digital platforms to connect with counterparties and investors in today's knowledge-based economy, the risks of cybersecurity threats are rising. Funds of all shapes and sizes are susceptible to fraud committed internally by employees or external criminal groups – hactivists, terrorist groups – which can have a potentially devastating impact on shareholders, oblivious to the risks. This could lead to investors losing part or all of their investment while ongoing criminal investigations and court procedures play out. As such, the Money Laundering Reporting Officer (MLRO) is becoming a vital role in the operations of investment funds.  »

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