The Federal Court of Australia has approved the settlement of a compensation claim to clients who were advised by Professional Investment Services to invest in the failed Westpoint Group. Under the settlement, PIS must pay eligible investors AUD5.9m. The court
The Hedge Fund Standards Board (HFSB) has launched a Toolbox to provide guidance to managers and investors on issues relating to fund manager governance and internal processes. The Toolbox will take the form of a series of briefings on key
Jersey Finance has welcomed the conclusions of the Review of British Offshore Financial Centres, which was launched in November last year when Michael Foot was asked to review the opportunities and challenges facing British Crown Dependencies and overseas territories that
BNY Mellon has received approval from the Irish Financial Regulator to establish a new bank licensed entity in Ireland. Known as The Bank of New York Mellon (Ireland), the creation of the new entity reinforces BNY Mellon’s commitment to Ireland
At first glance, it would be easy to say that the report by former UK regulator Michael Foot on the three British crown dependencies and six other overseas territories was a statement of the blindingly obvious. And possibly at second
International law firm Simmons & Simmons has entered into an alliance with US firm Seward & Kissel for hedge fund and asset management work. The alliance combines the strength of hedge fund and asset management practices in London, New York
The US Securities and Exchange Commission (SEC) has issued guidance to assist investment managers in applying Section 206(4) of the Investment Advisers Act of 1940 to their use of social media. According to law firm Sadis & Goldberg, the guidance
HM Government of Gibraltar has signed a Tax Information Exchange Agreement with the Government of the Italian Republic. The minister with responsibility for financial services, Gilbert Licudi QC, signed the agreement at the London Embassy of the Italian Republic. Ambassador
As the Cayman Islands Government’s Foreign Account Tax Compliance Act (FATCA) Task Force evaluates the suitability of a government-to-government reporting arrangement with the US, the local financial services industry is making its necessary preparations for managing FATCA. “Government is aware
A survey published by RBC Dexia Investor Services and KPMG shows how some of Europe’s largest asset managers plan to capitalise on Ucits IV and identifies how these reforms will contribute to wider changes across the European investment fund landscape.
