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By Phillip Graham, Partner, Harneys – The BVI is reportedly the second biggest cryptocurrency market in the world, according to statistics published by CoinShares, which used data collected from the 15 biggest cryptocurrency exchanges and concluded that the BVI had a trading volume in crypto assets valued at USD78.5 billion, in the first six months of 2018. This puts it just USD5.3 billion behind the USA. We also noted in a recent PwC report that two of the three largest Initial Coin Offerings (ICOs) have also been domiciled in the BVI.
These startling statistics come as no surprise to those of us
The BVI remains an attractive option to US and Asia Pacific fund managers thanks, in large part, to new structures such as the Approved Fund and Incubator Fund, according to Peter Jakubicka, Business Development Manager at Circle Partners.
Circle Partners (Circle) is an independent fund administrator with offices across the EU, the Americas and Asia and is able to guide start-up managers through the whole process of bringing a new fund to market in all major fund jurisdictions.
“At the pre-launch phase,” says Jakubicka, “we give clients good advice on how to set up a legal structure in the BVI,
When Hurricane Irma, a Category 5 storm, struck the BVI on Wednesday, 6th September 2017, it had a devastating impact, wiping out critical infrastructure and denying inhabitants any electricity supplies for six months. It was a moment of collective grief, but the BVI’s resilience and collective spirit shone through. In short, its response was as strong and as focused as the storm that bore down that day.
Incredibly, despite the carnage, there was very little business disruption.
As Simon Schilder, Partner at Ogier who once lived in the BVI but is now based in Jersey, recalls: “Our disaster recovery plan worked
HSBC Global Private Banking, Americas is partnering with financial technology firm iCapital Network (iCapital) to expand and streamline client access to alternative investments.
The partnership is part of Global Private Banking’s initiative to enhance investment management capabilities and expand its product offering for high-net-worth clients.
“Clients looking to diversify their portfolios are increasingly interested in alternative investments,” says Russell Schofield-Bezer, Chief Investment Officer, HSBC Global Private Banking, Americas. “Our partnership with iCapital provides our clients with the platform and technology to access a broader product suite and seamlessly integrate alternatives into their investment allocations.”
iCapital will allow HSBC’s
Dynamic Funds has launched the Dynamic Alpha Performance II Fund and Dynamic Premium Yield PLUS Fund (the Funds). Both Funds are based on the Canadian Securities Administrators’ ‘alternative funds’ proposal, which is governed under National Instrument 81-102 Investment Funds.
Liquid alternative funds allow more investors to access innovative investment strategies that offer the potential for enhanced diversification, decreased volatility and improved risk-adjusted returns.
“Dynamic Funds has a long history of managing alternative solutions that advisors can use to build better investment portfolios for their clients,” says Glen Gowland, President & CEO, Dynamic Funds. “With the use of alternatives, we
The Depository Trust & Clearing Corporation (DTCC) has announced new partnerships with Broadridge, FIS Global, Murex, RegTek.Solutions and SimCorp to support mutual clients with forthcoming Securities Financing Transactions Regulation (SFTR) obligations, which are anticipated to take effect in Q1 2020.
The firms will efficiently link their SFTR solutions to DTCC’s GTR leveraging DTCC’s open architecture, thereby allowing market participants to benefit from straight-through reporting workflows and lowering the cost of implementation. GTR’s Partner Program includes a network of 150 service providers, who provide automated solutions from trade capture to SFTR reporting leveraging ISO 20022 standards and delivering straight-through capabilities and
IIS, Drupal, and Oracle WebLogic web technologies experienced increased attacks in Q2 2018. According to a new threat report from eSentire, the largest pure-play Managed Detection and Response (MDR) provider, IIS attacks showed a 782x increase, from 2,000 to 1.7 million, since last quarter.
Analysis of the attacks by eSentire Threat Intelligence revealed that both IIS and WebLogic exploits maintained a consistent number of attacks (about 200) per IP across organisations, with those attacks originating from servers hosting Apache, RDP, SQL, IIS, and HTTP API services.
Most sources targeting IIS web servers originated from China-based IP addresses. According to
The Commodity Futures Trading Commission (CFTC) has unanimously approved proposed rules as a part of its KISS Initiative to simplify regulations for commodity pool operators (CPOs) and commodity trading advisors (CTAs).
“I’m pleased my fellow Commissioners supported today’s proposal, which I hope is the first of a series of long overdue simplifications to Part 4 regulations,” says CFTC Chairman J Christopher Giancarlo (pictured). “These proposed amendments are common sense changes that cut the regulatory mandates on CPOs and CTAs, while simultaneously promoting consumer confidence in the market. We look forward to working with the public to ensure these rules are
New research now offers a unique road map for all emerging and start-up hedge fund managers as they make their way to USD1 billion AUM. This has been achieved by analysing the path to growth and crucial insights of larger, more established managers who blazed a trail in building billion-dollar hedge fund businesses.
Produced by the Alternative Investment Management Association (AIMA), alternative prime broker GPP and Edgefolio, ‘Making it Big’ is informed through an industry-wide survey and a series of roundtable discussions posed to asset managers and industry allocators representing an estimated USD500 billion in total hedge fund AUM.
There will be new issuance of GBP11.3 billion in listed investment companies over the next three years with two thirds of this new issuance to occur in alternative investments, according to Joachim Klement (pictured), Head of Investment Research at Fidante Partners.
Klement says: “The number of alternative investment companies launched in the last five and ten years was more than twice as high as that of equity investment companies. So, while the performance of equities has been strong, the market has clearly been calling out for alternative investments. Alternative investment companies have been the major driver of new issuance in
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