The Commodity Futures Trading Commission (CFTC) obtained USD1,127,855 in restitution for defrauded pool participants and USD3,383,565 in civil monetary penalties in a federal court Default Judgment Order against Defendants. Gerard Suite (who is known by numerous aliases, including Rawle Gerard
Blaine Bortnick, managing partner of the New York office for Rasco Klock, along with James Halter, special counsel to the firm, have won a case on a motion to dismiss a USD1 billion lawsuit brought by New York-based hedge fund
Neuberger Berman Investment Management (Shanghai) Limited has secured registration as a private fund manager with the Asset Management Association of China (AMAC). The registration allows Neuberger Berman to manage private funds and raise assets directly from qualified investors in mainland
By Arne Bolch, GSK – On 1 August 2016, the Luxembourg Act on reserved alternative investment funds (RAIF), entered into force. It allowed for the setting up of RAIFs, with their defining feature of indirect supervision by their AIFM rather than direct
By Bob Kneip, KNEIP – For all its trillions of assets under management, the funds industry is still relatively young and immature. It remains highly fragmented and suffers from hyper-regulation. Over time, this has led to layers of inefficiency. Whilst
In 2013, at the time the AIFM Directive was introduced, Luxembourg’s lawmakers took the opportunity to revamp the two existing limited partnerships with legal personality – the partnership limited by shares (SCA or société en commandite par action) and the
Unless you’ve been on Mars for the last 12 months, you will be only too aware of the chaos that has been uncorked following the UK’s decision, in June 2016, to leave the European Union. A seminal moment in European
By Jean-Florent Richard (pictured) & Pilar de Terry – Next year sees the introduction of two major pieces of regulation both of which will have implications for how asset managers distribute their investment funds across Europe. Simply put, MiFID II
Luxembourg will always be a very heavily regulated jurisdiction. When the Alternative Investment Fund Managers Directive was introduced in 2011, the Grand Duchy was well prepared in advance of this new post-financial crisis environment of global regulation. “I believe
Rather than taking a short-term reactive approach to coping with regulatory change, and the inevitable reporting/data management task that comes with it, asset managers would be best advised to step back and think more long-term. That’s the view of Lee
