Latest News
By Sally Penrose (pictured), Appleby – The Limited Liability Company Act 2016 (LLC Act) came into force on 1 October, 2016 and introduced into Bermuda its first new corporate structure in 100 years. Appleby is pleased to have been able to work closely with the legislature to ensure that Bermuda's existing funds law is simultaneously amended so that LLCs are available immediately for use in investment fund structures. Appleby are ideally placed to advice with respect to LLCs.
What is an LLC?
A limited liability company, or 'LLC', is a hybrid legal structure allowing the contractual and operational flexibility of a partnership
- 24/03/2017
- 24/03/2017
Bermuda's financial regulator, the Bermuda Monetary Authority, takes a risk-based approach to regulating and supervising the entities for which it is responsible, including investment funds, investment providers, fund administrators, trust companies, insurers and banks.
The Authority's mission, says Melissa Morton (pictured), Assistant Director, Licensing & Authorisations Department, is to protect and enhance Bermuda's reputation "as a leading financial services jurisdiction, utilising a team of highly skilled people. Bermuda is a full member of the International Organisation of Securities Commissions (IOSCO) and as international standards evolve, we must align Bermuda's legislation accordingly. At the moment, the Authority is performing a review of
- 24/03/2017
By Ross Webber (pictured), Bermuda Business Development Agency (BDA) – Global regulatory burdens, cost pressures, fintech disruption, and political uncertainty on both sides of the Atlantic are shaping up to pose significant challenges to the asset-management industry in 2017 and beyond. Britain's sortie into extended Brexit negotiations and Trump's tax-reform ambitions seem to be holding investors and companies on tenterhooks. The only thing constant, as the old axiom goes, is change.
In Bermuda, we keep abreast of geopolitical developments that affect all our jurisdiction's industries. While perplexing issues will continue to run their course, choosing Bermuda as your domicile remains
- 24/03/2017
- 24/03/2017
As family offices look for the best jurisdictions in which to establish trusts and wealth preservation vehicles, being able to benchmark the institutional quality of a specific jurisdiction and rely on high-quality outsourcing options, are increasingly important considerations. The following report provides an overview of how and why Bermuda is living up to these expectations.
It may only measure 21 square miles but Bermuda, with its close proximity to New York (less than a two-hour flight away), its well-established legal system, stable government and a lifestyle experience that is the envy of most other global jurisdictions, packs an awful lot
- 24/03/2017
- 24/03/2017
IBM Security and SIX, the operator of the infrastructure underpinning the Swiss financial sector, are planning to leverage IBM Watson for Cyber Security in a new cognitive Security Operations Centre (SOC).
The new facility will be housed at SIX’s offices in Switzerland to provide localised cyber security services tailored to needs of the region.
As part of a new partnership, the SIX SOC powered by IBM will give clients access to the latest IBM cognitive security tools used to fight cybercrime. The centrepiece of the new SOC will be IBM Watson for Cyber Security, the industry’s first cognitive security technology. Watson has been
- 24/03/2017
Trumid, a financial technology company that improves trading efficiency and market intelligence in the corporate bond market, is to acquire fellow all-to-all trading platform Electronifie.
The acquisition will increase the size and diversity of the Trumid user network and strengthen Trumid’s team and technology offering.
Following a regulatory approval process, Trumid expects the transaction to close early in the second quarter of 2017.
Upon closing, over 350 institutions will be on board Trumid Market Center, the company’s all-to-all trading network for corporate bonds. This includes 20 of the top 25 asset managers in the world and 60 broker-dealers.
- 24/03/2017
Blue River Partners, together with Eaton Partners, have co-authored a whitepaper aimed at the alternative assets industry which examines the history and impact of the outsourcing trend on today's market, and provides answers to questions frequently asked by managers.
The topics covered include: the history of outsourcing and the current market reality; evaluating whether to outsource or not, and how to choose a service provider; what can go wrong and if a company can outgrow outsourcing; if CFOs and/or CCOs are still necessary when associated functions are outsourced; and investor and regulatory responses to outsourcing.
"We obviously believe in
- 24/03/2017
Luxoft is to acquire derivIT, a Singapore-based financial services-focused technology consulting provider.
derivIT provides experience of leading platforms in credit and risk management and capital markets.
The completion of the transaction is subject to approval by the Reserve Bank of India, as well as satisfaction of several other customary conditions precedent, and is expected to occur in the coming weeks.
This transaction provides a foundation on which Luxoft intends to build its delivery platform in APAC to service numerous high-potential clients in the region. In addition to helping Luxoft pursue new business opportunities in financial, automotive, telecom and
- 24/03/2017
After a long string of redemptions, eVestment has reported positive sentiment in the hedge fund industry this month, with hedge funds netting an estimated USD7.9 billion in inflows in February.
As a result, flows are now positive year-to date in 2017.
The industry had endured net outflows in each of the last five months, and seven of the last eight, prior to February’s net inflows. Total industry AUM now sits at USD3.085 trillion, highest since July 2015.
eVestment’s Hedge Fund Industry Asset Flow Report for February also reveals that investors are showing mixed signals toward regional EM strategies.
- 24/03/2017
Quantopian, the free online platform for education and creation of institutional-quality investment algorithms, has hired Leslie Baccini as director of investor relations.
Baccini (pictured) comes to Quantopian with a background in hedge fund strategy communication and equity research sales.
“Leslie has a proven track record of success with investors,” says John Fawcett, founder and CEO of Quantopian. “As we prepare to manage external capital later this year, her skills will be critical in communicating with those investors who choose Quantopian to manage their money with the best of our crowd-sourced investment algorithms.”
Baccini joins Quantopian from The Boston
- 24/03/2017
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