Legal

NatWest says time is ripe for funds to appoint independent depositaries

A serious conflict of interest has arisen in the European funds industry.

Posted on: 07 Jul, 2016

BEPs and Private Equity

Under the direction of the G20, the OECD (Organisation for Economic Co-operation and Development) was requested to examine in detail “base erosion and profit shifting” (BEPS). It published its first report in February 2013 entitled “Addressing Base Erosion and Profit Shifting” and in July 2013 set out an “Action Plan on Base Erosion and Profit Shifting” identifying 15 areas that required addressing. The final reports were published in October 2015.
Posted on: 27 Jan, 2016

Joseph Saliba of Saliba Stafrace Legal on the Challenges Custodians are Facing

GCF spoke to Joseph Saliba, a Partner at Saliba Stafrace Legal, on the challenges custodians are facing and the attractions of Malta to service providers, at the 2015 Global Custody Forum in London.
Posted on: 18 Dec, 2015

MiFID II greatest regulatory strategy issue for EU fund managers

Out of all the European regulations to affect strategy, MiFID II is expected to be the biggest priority for investment managers, with MiFID II investment research rules being highlighted as a key strategic challenge in a survey conducted by Deloit

Posted on: 26 Oct, 2015

An introduction to the UK FCA’s client money rules for investment firms, with John David Thiede of Sidley Austin LLP

They make up one chapter out of 12 in a set of recently revised rules published by just one regulator. Yet it would not be hyperbolic to describe the new client money rules set out in the Client Asset Sourcebook (CASS) of the United Kingdom Financial Conduct Authority (FCA) as one of the most excruciatingly detailed and prescriptive set of operational obligations imposed on investment firms, including asset managers, of any introduced since the financial crisis. They came fully into force on 1 June this year. Dominic Hobson spoke to John David Thiede of Sidley Austin LLP, who was closely involved in their drafting during his time with the FCA.

Posted on: 21 Oct, 2015

Lawsuits Bring Renewed Attention to FX Transaction Costs

Legal
16 Jun, 2015

Despite the promises of better behaviour by banks after their fines for past abuses in the foreign exchange markets, investors should subject their currency transaction procedures to a thorough review to ensure best execution.

Weavering directors have fines dismissed

The Cayman Islands Court of Appeal has dismissed the $111 million fine imposed on two directors who sat on the board of the failed Weavering Capital hedge fund in a decision that is likely to tarnish Cayman’s reputation on corporate governance standards.

Posted on: 18 Feb, 2015
Posted in: Legal

GAIM Ops Cayman: Hedge funds warned on FCPA

Government agencies have warned hedge funds at GAIM Ops Cayman that enforcement of the Foreign Corrupt Practices Act (FCPA) will be a priority for 2014.

Posted on: 07 Apr, 2014
Posted in: Legal

ALFI: Luxembourg bolstering tax transparency, says finance minister

Luxembourg is bolstering its tax transparency and is likely to sign its intergovernmental agreement (IGA) with the US on FATCA by the end of this month, according to the country’s finance minister.

Posted on: 18 Mar, 2014
Posted in: Legal

New funds imposing tougher redemption terms

Newly launched US hedge funds are imposing tougher redemption terms on investors although management fees have declined, according to a study by Seward & Kissel.

Posted on: 26 Feb, 2014
Posted in: Legal

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