Phase 1 of Dodd Frank commenced in March this year, requiring swap dealers and major swap participants to clear their OTC derivative contracts (i.e. liquid IRS and CDS) through central counterparties (CCPs). With Phase 2 commencing in June, buy-side firms
The Cayman Islands Government is prepared to commit to the Convention on Mutual Administrative Assistance in Tax Matters. It has also accepted invitations from UK Prime Minister David Cameron to attend two events on 15 June, immediately prior to
The Over-the-Counter (OTC) Derivatives Regulators Group (ODRG) has issued a report that identifies the current list of remaining cross-border implementation issues related to global reform of OTC derivatives markets. The ODRG is made up of authorities with responsibility for the
The Financial Services Authority (FSA) has published proposals to ban the promotion of Unregulated Collective Investment Schemes (UCIS) and similar products to the vast majority of retail investors in the UK. The proposed rules mean that, in the retail market,
More than two-thirds (67 per cent) of alternative investment fund managers say they are still concerned about reporting to local regulators, despite nearly all (95 per cent) saying they feel informed on the requirements of AIFMD. This is one of
Many investment managers are still coming to grips with the related operational, staffing, and budgetary requirements of the Foreign Account Tax Compliance Act (FATCA), according to a paper by SEI. The initial Foreign Financial Institution (FFI) registration deadline is just
INDOS Financial has submitted an application to the Financial Conduct Authority for authorisation as a depositary. INDOS plans to provide independent depositary oversight services to hedge fund managers seeking to comply with the long-awaited Alternative Investment Fund Managers Directive (AIFMD) which
SuMi TRUST Global Asset Services' trustee business, SMT Trustees (Ireland) Limited, has been appointed as the AIFMD depositary for Cologny Advisors’ Camox Fund. The investment strategy of the Camox Fund is based on fundamental research in the selection of securities
Sturgeon Ventures, the regulatory incubator, has entered into a joint venture with Dublin-based Gandon Alternative Fund Management to offer a full regulatory service for alternative investment funds (AIFs) in Europe. It is the first regulatory incubation service to offer full
Morgan Stanley Capital Group (MSCGI) has agreed to pay a USD200,000 civil monetary penalty to settle CFTC charges that it exceeded speculative position limits in soybean meal futures contracts trading on the Chicago Board of Trade (CBOT). The CFTC order
