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
Linda Gibson, Director of Regulatory Change and Compliance Risk, BNY Mellon’s Pershing on teh challenge and opportunities of MiFID II… The FCA will not be lenient on firms that fall behind on MiFID II compliance. But where a zero tolerance
The third quarter of 2016 saw an estimated USD28 billion of hedge fund net outflows – the highest since 2009. This brought year-to-date redemptions to USD51.5 billion. Those suffering significant outflows included high-profile stalwarts of the industry such as Brevan
Cargill is to pay a USD10 million penalty to settle CFTC charges that it provided mid-market marks (marks) that concealed its full mark-up on certain swaps from counterparties and its swap data repository (SDR), in violation of the Commodity Exchange
By Maree Martin, Gene A DaCosta & Craig T Fulton – On 16 December 2016 the Cayman Islands Government enacted The Mutual Funds (Annual Returns) (Amendment) Regulations, 2016 (the Amendments). Pursuant to The Mutual Funds (Annual Returns) Regulations, 2006 (as amended) (the Existing Regulations), all funds
The Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against Morgan Stanley and Co Incorporated (Morgan Stanley), for non-compliance with rules governing Part 17 Large Trader reports to the CFTC spanning a ten-year period
RegTech company AQMetrics has enhanced its end-to-end risk and compliance solution to help buy-side and sell-side firms better prepare for MiFID II. The recent enhancements include: an updated Supervisory Control Portal and Risk Register to provide client classification and
DMS Governance specialises in providing global fund governance with the firm best regarded for the provision of offshore independent directors in the Cayman Islands. The second core business line is its UCITS and AIFMD management company and platform based in
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). In August
Well over half (58 per cent) of North American buy-side firms have confirmed that they will need to comply with MiFID II, and yet only 23 per cent feel extremely confident that they have a plan in place, while 77
