The hedge fund industry has welcomed a decision by the European Union to remove the Cayman Islands – a major offshore domicile for the global hedge fund industry – from a tax haven blacklist.

The CFTC has ordered JPMorgan to pay a record USD920.2 million, the largest amount of monetary relief ever imposed by the CFTC, to settle charges of manipulative and deceptive conduct and spoofing.

Man AHL, the pioneering quantitative investment unit of London-listed global hedge fund giant Man Group, has been given the green light for a qualified foreign institutional investor license in China.

The Securities and Exchange Commission (SEC) has announced its 100th whistleblower award since the creation of the SEC Whistleblower Program as part of the Dodd Frank Act in 2010.  

The Alternative Investment Management Association (AIMA) and Alternative Credit Council (ACC) have welcomed the publication by the European Commission (EC) of the Capital Markets Union for people and businesses-new action plan (the CMU Action Plan). 

Blaine Bortnick, managing partner of the New York office for Rasco Klock, along with James Halter, special counsel to the firm, have won a case on a motion to dismiss a USD1 billion lawsuit brought by New York-based hedge fund Kingstown Capital Management LP and its affiliates.

SmartStream Technologies has launched a new derivatives component for its Systematic Internaliser (SI) Registry service, to help clients meet the 15 September MiFID II deadline.

On 31 July, 2020, the Internal Revenue Service (IRS) released proposed regulations (the Proposed Regulations) relating to the scope and applicability of Internal Revenue Code Section 1061. This alert will provide an overview of the Proposed Regulations and how they may affect hedge, private equity and other investment funds.

The Commodity Futures Trading Commission has approved an Amended Order of Registration for LedgerX to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organisation under the Commodity Exchange Act.

Independent depositary and fund oversight provider INDOS Financial has highlighted a series of omissions in the EU’s Alternative Investment Fund Managers Directive with the hope these will quickly be addressed by ESMA (The European Securities and Markets Authority).