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Thomas Eggar has expanded its private client team with the appointment of tax adviser Andrew Watters.
Watters (pictured), who joined as a director based in its London office, will focus on growing the firm’s specialist contentious tax services including pre-emptive planning, tax investigations and enquiries and tax litigation.
Previously a director at Berwin Leighton Paisner, Watters also worked as a senior investigator in the special compliance office of the Inland Revenue with a focus on high-profile cases of suspected tax avoidance and evasion. His extensive expertise and experience in both HMRC and private practice enables him to advise corporate groups
Agecroft Partners predicts that the hedge fund industry will set a new record for assets in 2013 despite the lacklustre investment performance for the industry over the past two years.
This will be driven by pension funds increasing their asset allocations to hedge funds, and a broadening of the hedge fund investor base due to the passage of the JOBS ACT.
This conclusion is based on several dominant and emerging trends Agecroft has identified through its contact with more than 2,000 institutional investors and 300 hedge fund organisations during 2012.
Below are the eight leading trends that were identified for
BNY Mellon has received regulatory approval to launch a new Issuer Central Securities Depository (CSD) entity that will offer market participants enhanced interoperability and efficiency in the global post-trade arena.
BNY Mellon CSD SA/NV will offer issuer, settlement and safekeeping services for the benefit of all market participants across Europe and the wider global marketplace.
Tim Keaney, vice-chairman and chief executive of investment services at BNY Mellon, says: “BNY Mellon supports current regulatory and infrastructure initiatives aimed at making the securities markets more efficient and safer for all participants. Establishing BNY Mellon CSD reflects our proactive engagement with those
Appleby has made a number of changes to its leadership team, including the appointment of Frances Woo as group chairman.
Woo (pictured) will succeed Peter Bubenzer who will be retiring from the Appleby Group on 31 March 2013, following a career at Appleby that spans over 32 years.
Appleby has also appointed a new global head of its corporate and commercial practice. Effective early in the New Year, Cameron Adderley will lead the corporate group, which is one of the largest in the offshore world. Adderley succeeds Judith Collis who has served as global practice head for seven years. She
Singapore Exchange’s (SGX) derivatives and commodities markets achieved several new record highs in both December and the full year.
Securities market performance as measured by the Straits Times Index was up 20 per cent in 2012.
As in most global markets, trading activities declined. Nevertheless, securities trading in December grew strongly from a year earlier.
Securities turnover declined 12 per cent in 2012 to SGD321.5bn. Securities average daily value (SDAV) was 12 per cent down at SGD1.3bn. In December, turnover was up 39 per cent from a year earlier at SGD23.2bn; SDAV grew 46 per cent to SGD1.2bn.
Schulte Roth & Zabel has appointed Taleah E Jennings as a partner.
The firm has also promoted Laura Angel-Lalanne, Christopher H Giampapa, Rami Kidouchim, Brian T Kohn, Neil Robson and Cathy A Weist to special counsel.
Jennings, Angel-Lalanne, Giampapa, Kidouchim and Kohn are located in firm’s New York office. Robson and Weist are resident in the firm’s London office.
“All of these lawyers have distinguished themselves through their contributions to our clients and the firm,” says Alan Waldenberg, chair of the firm’s executive committee and chair of the tax group. “They are an important part of the firm’s
The Dow Jones Credit Suisse Core Hedge Fund Index closed up 0.99 per cent in December as each of the seven index component strategies reported positive results for the month.
Event driven (2.14 per cent) and emerging markets (1.34 per cent) led the way, while the worst performers were managed futures (0.15 per cent) and convertible arbitrage (0.49 per cent).
The Hedgeweek Awards 2013 for the best hedge fund performers and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.
In a recent speech before the Regulatory Compliance Association, Bruce Karpati, chief of the Securities and Exchange Commission’s enforcement division’s asset management unit, suggested where the SEC may be heading regarding hedge fund oversight in the months to come.
Karpati both highlighted the SEC’s past enforcement activity concerning hedge funds (including several cases where the SEC alleged funds fraudulently overvalued their holdings) and signalled that the SEC’s emphasis on such activity will continue.
At the outset of his remarks, Karpati reviewed the enforcement division’s decision to create “specialised units” to provide the expertise and resources that will ideally provide
Ireland’s Central Bank has confirmed that UCITS organized as self-managed investment companies (“SMICs”) will need to complete a UCITS IV enhancement process by 1 July 2013, wrote law firm Maples and Calder this week. For most SMICs this will involve updating business plans and statements of responsibility.
Initially, under the Central Bank’s “UCITS IV SMIC enhancement process”, due for completion by 1 July 2013, it was proposed to apply all the organizational requirements applicable to UCITS management companies to SMICs. This position has been reviewed and recently the Central Bank indicated that certain key elements applicable to UCITS management companies
Scoach achieved a trading volume of EUR42.6bn in Zurich and Frankfurt in 2012.
Since it was founded, Scoach has held its number one position in Europe continually and ranks third in global terms behind the Hong Kong Exchange and the Korean Exchange.
Its total offering of more than 950,000 tradable products is the largest in the world.
Turnover in Frankfurt stood at EUR16.1bn in 2012, 18 per cent less than in 2011. At 1.8 million, the number of transactions was 34 per cent lower than in 2011.
The average order volume increased by 25 per cent to approximately EUR9,000 per
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