Paul Govier, Maples & Calder

The Cayman Islands – End of transitional period

By Paul Govier (pictured) & Harjit Kaur – The European Alternative Investment Fund Managers Directive (“AIFMD”) introduces a new regime governing the management and marketing of alternative investment funds (“Funds”) in the EU. The transitional period for the implementation of the AIFMD expires on 22 July 2014, and from this date Cayman Islands Funds (“Cayman Funds”) may only be marketed in the member states of the EU in compliance with the requirements of the AIFMD, unless a relevant exemption applies. Different marketing regimes will apply from the end of the transitional period to 2018 and beyond. »


Tim Clipstone, Maples & Calder

The British Virgin Islands – AIFMD one year on

By Tim Clipstone (pictured) & Jill Shaw, Maples & Calder – It has been almost a year since the Alternative Investment Fund Managers Directive (“AIFMD”) was due to be implemented by the member states of the European Union (the “Member States”) on 22 July 2013 and a number of Member States have yet to enact legislation to transpose AIFMD while others, including the United Kingdom, Ireland and Luxembourg, enacted transitional provisions which gave managers of alternative investment funds one year, until 22 July 2014, to determine what steps, if any, need to be taken to ensure compliance with the provisions of AIMFD. »


Acquisition

StormHarbour to acquire 49 per cent of Japanese hedge fund manager Asuka

Global markets and financial advisory firm StormHarbour Securities is to acquire a 49 per cent stake in Japanese hedge fund manager Asuka Asset Management for an undisclosed fee. »


Gary Kaminsky, ConceptONE

The role of the CCO in a highly scrutinised global regulatory environment

By Gary Kaminsky, ConceptONE – It seems almost daily that regulators on both sides of the pond remind the industry of the importance of compliance and their high expectations of the individuals charged with managing the risks associated with operating an asset management company in the current environment. »


Mike Hughes, Deutsche Bank

Prime broker relationships remain key

Last year there was considerable angst and uncertainty among hedge fund managers. Central to their concerns was the impact appointing an independent depositary under AIFMD would have on their existing prime brokerage relationships. Twelve months on, however, and much progress has been made to alleviate these fears, with Mike Hughes (pictured), Global Head of Fund Services at Deutsche Bank, referring to the period as a ‘game of two halves’ (in World Cup parlance). »


Sunil Gopalan, GFM Limited

Global Fund Media Guide to AIFMD 2014

The publication of the Global Fund Media Guide to AIFMD 2014 is timed to coincide with the 22 July 2014 date by which AIFMs are required to submit their applications for authorisation to their relevant competent authorities in compliance with the Alternative Investment Fund Managers Directive. »


Electronic trading floor

SGSS launches multi-counterparty and multi-asset class trade repository reporting service

Societe Generale Securities Services (SGSS) has launched a trade repository reporting offer for OTC derivatives, servicing multi-counterparties and multi-asset classes, under the European Markets Infrastructure Regulation (EMIR). »


Regulation

SEC adopts cross-border security-based swap rules

The Securities and Exchange Commission (SEC) has adopted the first of a series of rules and guidance on cross-border security-based swap activities for market participants.  »


Up arrow

Global hedge fund assets top USD3trn for the first time, says eVestment

Total assets in hedge funds surpassed USD3 trillion for the first time on record in May 2014, according to a report from eVestment.  »


Gavel

Barclays charged with fraud over marketing and operation of dark pool

Barclays has been charged with fraud over the marketing and operation of its dark pool and other aspects of its electronic trading division. »


Upcoming events

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Upcoming training

Sun, 24/08/2014 (All day) - Dubai
Wed, 10/09/2014 (All day) - London
Mon, 29/09/2014 (All day) - London