The majority of asset managers dragged into new uncleared margin requirements over the next two years could avoid tying up capital altogether, but still play by the rules, according to recent research from OpenGamma.
Legal & Regulation
By Don A Steinbrugge (pictured), Agecroft Partners – The CFA Institute has released and circulated the final version of its guidelines to improve performance standards in the hedge fund industry. They will go into effect on 1 January, 2020. We strongly support the effort to create and implement performance standards in the industry and believe that the CFA Institute is the right organisation to lead this charge.
New FCA regime’s failure to include appointed representatives is an oversight, saysSturgeon Ventures
The Senior Managers & Certification Regime that comes into effect today (9 December) is a positive step for the financial services industry – but its failure to include Appointed Representative Firms (ARFs) and their individuals is an oversight, according to Sturgeon Ventures, a regulatory incubator.
Crestbridge has been granted a funds administration licence in Luxembourg in a move that significantly bolsters the company’s capabilities in the jurisdiction and its multi-jurisdictional proposition for alternative fund managers.
Just under two months out from the 2018/19 tax return submission deadline, KPMG is warning offshore fund investors to check their tax reporting, before HMRC does.
The US Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Goldman Sachs & Co for failing to make and keep certain audio recordings as required under CFTC regulations for swap dealers.
By Simon Gray, BVI Finance – A new generation of hedge fund managers are looking to make a name for themselves. But starting a fund, raising money and managing a back office can be a gruelling task even for the most talented rising stars.
By Christopher Simpson & Kerry Anderson – News outlets, including The Guardian and CNBC, were reporting and market watchers were opining in early 2019 that a slowing world economy forebodes a major global economic shift – possibly another recession. By mid-August, the concern found renewed attention when analysts pointed to an inverted yield curve in the United States Government bond market as a historical precursor to a recession.
By Ian Montgomery, Partner, Collas Crill – A new generation of offshore incorporations: Succession planning for offshore incorporations, particularly those where companies are controlled by one individual, needs careful consideration. Problems can arise where a significant proportion of shares in a BVI company are held by a foreign-domiciled deceased individual with a foreign will or no valid will at all, particularly where the deceased was the sole director of the company.
By Simon Gray, BVI Finance – The crypto hedge fund is a new phenomenon, created by entrepreneurial investment managers looking to take advantage of the huge gains that cryptocurrencies have experienced over the last three years.