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Andrew Millar, Estera

Cayman Funds - Meeting the new anti-money laundering rules, deadline approaching

Wed, 05/12/2018 - 08:03

By Andrew Millar & Gerrard Finnegan, Estera – While New Year is generally a time of celebration, recent history has shown that it can also ring in a regulatory deadline or two. As the world welcomed in 2018, Europe saw the Markets in Financial Instruments Directive (MiFID II) come into force. And later this year, it’s the turn of the Cayman Islands, with a final deadline for the revised Proceeds of Crime Law landing on 31 December. »

Picture of a stamp of approval

Additional UK multilateral trading facilities allowed to operate without CFTC registration as exempt SEFs

Tue, 04/12/2018 - 10:42

The CFTC has issued an amended order that will allow an additional four multilateral trading facilities (MTFs) authorised within the European Union (EU) to be exempted from the requirement to register with the CFTC as swap execution facilities (SEFs).   »

Picture of the Swiss flag

SIX welcomes contingency measure of Swiss Federal Council

Tue, 04/12/2018 - 09:02

The Swiss Federal Council has adopted an ordinance that introduces a new "recognition regime" for foreign trading venues which trade Swiss shares.   »

Judgement hammer

SEC charges two celebrities with unlawfully touting coin offerings

Fri, 30/11/2018 - 11:00

The SEC has issued and settled charges against professional boxer Floyd Mayweather Jr and music producer Khaled Khaled, known as DJ Khaled, for failing to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs).  »

Picture of one raised finger

Mourant ranked as No1 legal adviser for Jersey funds

Fri, 23/11/2018 - 10:48

According to the Monterey Fund Report 2018, Mourant has once again maintained its leading position as the go-to legal adviser in Jersey's funds industry, advising on over 46 per cent of all funds by market share of assets. »

Picture of a man with megaphone making announcement

MFA proposes ‘harmonised primary regulator approach’ to SEC and CFTC regulation of dual registrants

Mon, 19/11/2018 - 11:08

The Managed Funds Association (MFA) has written to both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) proposing a ‘harmonized approach to the regulation of firms that are SEC-registered investment advisers (RIAs) and also CFTC-registered commodity pool operators (CPOs).’ »

Magnifying glass revealing the word FRAUD

Hedge fund and principals to pay over USD1m to settle CFTC charges of fraud and registration violations

Fri, 16/11/2018 - 10:23

A federal court in New York has entered orders against Kevin P Whylie of Ozone Park, New York, Matthew James Zecchini of East Islip, New York, and the New York hedge fund they co-founded, Algointeractive, to pay more than USD1 million in civil monetary penalties and restitution.  »

John Byrne, Corlytics

Corlytics launches free Regulatory Event Data (RED) app

Mon, 12/11/2018 - 10:44

Corlytics, a specialist in calculating and analysing regulation as a risk, has added a new free Regulatory Event Data (RED) app, which filters global, real-time, regulatory data to its RiskFusion software offering. »

Picture of a sign reading Fraud

CFTC charges former Deutsche Bank trader with fraudulently mis-marking swaps

Fri, 09/11/2018 - 10:28

The Commodity Futures Trading Commission (CFTC) has filed and settled charges against Jacob Bourne, a former managing director of Deutsche Bank Securities Inc, for fraudulently mis-marking swap valuations to conceal significant trading losses.   »

J Christopher Giancarlo, CFTC

Commerzbank AG to pay USD12m for swap dealing violations and misleading statements to CFTC

Fri, 09/11/2018 - 10:23

Commerzbank is to a pay USD12 million civil monetary penalty to settle CFTC charges relating to numerous violations of the Commodity Exchange Act (CEA) and CFTC Regulations, including failing to supervise its Swap Dealer’s activities for more than 5 years and making misleading statements and material omissions to the CFTC concerning its Swap Dealer’s operations and compliance with the CEA and CFTC Regulations. »


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