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Anthony Rawlins, compliance manager at Moore Stephens, advises on the top tips to consider in wake of the Alternative Investment Fund Managers Directive (AIFMD) transitional arrangements update…
While the deadline extension is good news for those firms that have yet to prepare their AIFM variation of permissions, this development should not be viewed as a disincentive to act now. We are advising all of our clients that fall within the scope of an AIFM to make their applications for authorisation or registration as soon as possible in the New Year.
The Treasury is currently ironing out some of the more
The National Futures Association (NFA) has ordered Cap Ex Partners, a commodity trading advisor located in Westminster, California, to permanently withdraw from NFA membership.
The NFA has also ordered Keith R Bramlett and Ralph H Johnson, associated persons and listed principals of Cap Ex, to withdraw from NFA membership.
Bramlett and Johnson are prohibited from applying for NFA membership or associate membership for a period of two years from the date of their withdrawals. In addition, Bramlett and Johnson are prohibited from acting as a principal of any NFA Member for a period of three years from the date
Asoka Wöhrmann, co-CIO of Deutsche Asset & Wealth Management, on the recent decision of the Federal Reserve to scale back its asset purchases modestly…
The Fed is not rushing for the exit. Monetary policy is likely to remain highly accommodative for a long time.
Based on our forecast of the economy strengthening in 2014, we expect the U.S. Federal Reserve Board (Fed) to scale back asset purchases further and probably end them by the second half of next year. The Fed will not begin raising rates until late 2015 at the earliest.
We don't see a huge move in US
Fiona Le Poidevin, chief executive of Guernsey Finance, has just returned from India where she was showcasing how Guernsey can help meet India’s investment needs.
The Indian economy remains both a fascinating and complex one. While a recent forecast by the Reserve Bank of India saw growth projections scaled down to five per cent for 2013/14, this figure is still attractive to those in the West who are looking to provide inward investment.
Guernsey’s funds industry, with its considerable experience in infrastructure funds and raising capital through European markets, is well placed to assist India with the challenges it
Global equities have much more room to appreciate given the positive global economic backdrop, and US equities are likely to prove the star performer in 2014, according to John F Vail (pictured), Chief Global Strategist and Chair of the Nikko Asset Management’s Global Investment Committee (GIC)…
On the back of a spectacular year of performance for indices such as the S&P 500 and the Nikkei 225, equities generally topped the GIC’s forecasts for 2013. We have been overweight equities since September 2011.
In the US, booming home prices added around USD428 billion to US household wealth in the 3rd quarter,
The Commodity Futures Trading Commission has approved a series of broad comparability determinations that would permit substituted compliance with non-US regulatory regimes as compared to certain swaps provisions of Title VII of the Dodd-Frank Act and the Commission’s regulations.
Substituted compliance describes the circumstances where the Commission’s general policy would be to permit non-US swap dealers or non-US MSPs whose swaps activities might bring them within the scope of certain Commission regulations, to use compliance with regulations in their home jurisdiction as a substitute for compliance with the relevant Commission regulations.
This approach builds on the Commission’s long-standing policy
The Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) has issued a time-limited no-action letter to the Singapore Exchange Derivatives Clearing Limited (SGX-DC).
In the letter, DCR states that it will not recommend that the Commission take enforcement action against SGX-DC’s clearing members for failing to comply with the Commodity Exchange Act (CEA) Section 4d(f)(1) futures commission merchant (FCM) registration requirements in carrying existing positions and accepting for clearing offsetting positions in certain commodity swaps for US customers; or SGX-DC for engaging in activities related to its clearing members carrying and accepting for clearing such positions for US
Just three per cent of financial services professionals polled globally believe that the regulatory changes implemented since 2008 have done enough to prevent a future crash, according to a survey by Kinetic Partners.
Furthermore, just 12 per cent of respondents believe that regulators fully understand how the financial crisis was allowed to happen in the first place.
These findings, compiled on behalf of Kinetic Partners’ 2014 Global Regulatory Outlook report, are nearly identical at the most senior levels, with only four per cent of “c-suite” executives polled believing that regulation had adequately mitigated the risk of another crash, and 39
Managed futures gained 0.56 per cent in November, according to the Barclay CTA Index compiled by BarclayHedge.
Year to date, the index has lost 1.98 per cent.
“November’s respite from bad economic news drove equity markets higher and provided CTAs with a trend worth following," says Sol Waksman, founder and president of BarclayHedge.
All eight Barclay CTA indices enjoyed positive returns in November. The Systematic Traders Index was up 0.70 per cent, Diversified Traders gained 0.63 per cent, Agricultural Traders added 0.40 per cent, Currency Traders gained 0.37 per cent, and Financial & Metals Traders were up 0.27
Luca Paolini (pictured), Chief Strategist at Pictet Asset Management, explains why markets will enter a new phase in 2014…
In our view, 2014 will see markets enter a distinct new phase, one in which central bank liquidity – for so long a hugely positive influence on investor sentiment – will have a weaker impact on asset class returns than economic growth. As this transition from a liquidity to growth-influenced market unfolds, world stocks are likely to deliver more muted returns in 2014 while bonds will in the main struggle to break into positive territory.
One certainty for 2014 is that
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