Former hedge fund manager Raj Rajaratnam is to pay USD1.47 million to settle insider trading charges brought against him by the Securities and Exchange Commission (SEC). The SEC’s complaint, filed on 26 October, 2011, alleges that, among other things, Rajat
The Life & Longevity Markets Association has launched a series of technical publications that aim to bring the creation of a longevity market a step closer. For the first time there is now a publicly available market-standard approach to the
The Jersey Financial Services Commission (JFSC) has released its final guidance note in relation to Initial Coin Offerings (ICOs). The guidance note follows in the wake of several high profile crypto ventures launching from Jersey, including several ICOs, and formalises
The Irish funds industry has welcomed a harmonised framework for alternative investment fund managers and the regulatory changes to Irish collective investment schemes. The Irish Funds Industry Association says the agreement on the Alternative Investment Fund Managers Directive will introduce
On 13 December 2010, the Privy Council delivered its judgment in the Strategic Turnaround appeal from the Cayman Islands Court of Appeal. Maples and Calder comments on the decision, which clarifies a number of important points in respect of suspensions
Compliance bosses for Europe’s largest asset managers are not the only ones struggling under the weight of increased regulation, according to Nicola Smith, chief executive of Helvetic Fund Administration in Gibraltar, who says that smaller funds are being forced to
By Martin Scott, International Administration Group (Guernsey) – Two years ago, almost to the day, Guernsey was set to receive the Alternative Investment Fund Managers Directive (AIFMD) passport to allow marketing of Guernsey funds across Europe. Then Brexit and politics
By Craig Cordle – Data protection and privacy laws have been reformed across Europe by Regulation (EU) 2016/679, commonly known as the General Data Protection Regulation (GDPR) which came into force on 25 May 2018. The GDPR builds on existing
The Technical Committee of the International Organization of Securities Commissions has published a consultation report containing principles to assist securities markets authorities in dealing with issues concerning dark liquidity. The principles are designed to minimise the adverse impact of the
Markit and Compliance Technologies International (CTI) have launched the FATCA Service Bureau, a new service designed to help financial institutions comply with the Foreign Account Tax Compliance Act (FATCA). The FATCA Service Bureau unites the capabilities of Markit Counterparty Manager
