Nearly three-quarters (72 per cent) of fund managers view the Alternative Investment Fund Managers Directive as a business threat, according to a survey carried out by Deloitte. The biggest concerns for fund managers are depositary costs (84 per cent), delegation
By Perrie Michael Weiner (pictured) and Patrick Hunnius at international law firm DLA Piper – In the past few weeks, there has been much press attention and debate regarding the legal i
The Swiss Funds Association says the solution reached by the Swiss parliament over the partial revision of the Federal Act on Collective Investment Schemes (CISA) is a balanced compromise between investor protection, market access and competitiveness. Acting as second chamber,
The Alternative Investment Management Association has welcomed the work of the Swedish Presidency in producing compromise text for the Alternative Investment Fund Managers Directive. Aima says there have been significant concerns expressed about the original text of the directive by
The Securities and Exchange Commission has filed fraud charges against a Portland, Oregon-based investment adviser who perpetrated a long-running Ponzi scheme that raised over USD37 million from more than 100 investors in the Pacific Northwest and across the country. The
Ares Management, a multi-billion dollar asset manager, has completed its initial filing of Form PF in line with the August deadline, using SS&C GlobeOp’s Form PF reporting solution. “The filing was a culmination of months of planning, data extraction and
Irving H Picard, SIPA trustee for the liquidation of Bernard L Madoff Investment Securities, has announced that cheques for the second pro rata interim distribution of recovered monies from the BLMIS Customer Fund to eligible customers were mailed on 19
Kinetic Partners, a global professional services firm focused exclusively on the asset management industry, has emphasised the need for hedge fund and private equity fund advisers to take immediate action to prepare for the impending regulatory changes. “Our survey of
Mourant Ozannes has opened an office in the British Virgin Islands (BVI) in response to demand from clients and intermediaries for BVI legal services. The new BVI office opens with three partners and will focus initially on corporate, international finance,
A recent decision of the Grand Court of the Cayman Islands (the Court) in the case of FIA Leveraged Fund has laid down, for the first time, the principles applicable to an in specie (or in kind) distribution of fund
