The US Commodity Futures Trading Commission (CFTC) has signed a Memorandum of Understanding (MOU) with the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and Deutsche Bundesbank (Bundesbank, The MOU is in relation to the cooperation and the exchange of information in the supervision
Luxembourg is one of the world’s leading onshore domiciles where, over the last 30 years, it has become the default option for managers wishing to establish UCITS funds. It is, by size, the world’s second largest fund centre after the
Regulatory reporting has become a critical component of running an alternative investment fund. This requires well-developed data sourcing and data management processes to help ensure that fund managers remain compliant. Until a few years ago, there were no formal regulatory
Across most EU jurisdictions, either the management company or the AIF needs to be licensed and requires some form of approval process. The Netherlands, however, is the exception to the rule. Under its light regime, neither needs to be licensed
Malta hosts a wide range of service providers, all of whom are well versed in structuring and supporting alternative investment funds, fund administration, risk management and so on. According to the MFSA’s statistics for Q1 2017, Malta had 26 recognised
Traditionally, Luxembourg’s fund industry has always been based on the products being regulated. Both UCITS funds, and Specialised Investment Funds (SIFs) under AIFMD, work on this premise. However, the Grand Duchy was quick to realise that given AIFMD is manager
The European Securities and Markets Authority (ESMA) has published an opinion which sets out general principles on supervisory approach in relation to relocations of entities from the United Kingdom (UK) to the remaining 27 EU members states (EU27). ESMA has
Cordium, a provider of governance, risk and compliance services, has launched a solution to help firms adapt to the new requirements of the Criminal Finances Act, set go into effect in September 2017. Introduced by HM Revenue and Customs, the
An innovation in Luxembourg’s alternative fund structure range came to market in 2016: the Reserved Alternative Investment Fund (RAIF). This investment fund structure expedites time-to-market, meaning asset managers can set-up their fund project in a shorter timeframe. Efficient time-to-market Prior
Malta has come a long way as a fund jurisdiction since it joined the EU in 2004. Through June 2015, Malta had 146 licenced entities holding Category 1A (advisory), Category 3A and Category 4A licences. In terms of growth trends,
