RAuM methodologies in Annex IV and Form PF could lead to fund managers being dubbed SIFIs

The reporting methodologies for Regulatory Assets under Management (RAuM) at fund managers used by Form PF in the US and Annex IV under the Alternative Investment Fund Managers Directive (AIFMD) could result in regulators imposing bank-style rules

Posted on: 30 Jul, 2014
Posted in: Regulation

Liquid alternatives warned on compliance obligations as SEC inspections loom

It is essential alternative mutual funds have in place liquidity terms and leverage profiles that meet the compliance requirements enshrined in the ’40 Act if they are to not fall foul of the upcoming examinations being undertaken by the Securitie

Posted on: 21 Jul, 2014
Posted in: Regulation

Divisions over MiFID II impact on research costs

There are divisions about the impact in which the Markets in Financial Instruments Directive II (MiFID II) will have on the use of dealing commissions by managers to pay for investment research.

Posted on: 14 Jul, 2014
Posted in: Regulation

Forcing PBs to segregate AIF assets could cause serious challenges

Forcing prime brokers to segregate AIF assets could have serious unintended consequences and will ramp up borrowing costs for those firms.

Posted on: 01 Jul, 2014
Posted in: Prime Brokerage

ESMA must issue guidance to enable inter-TR reconciliations

The European Securities and Markets Authority (ESMA) needs to issue guidance to trade repositories to enable them to better reconcile trades, according to the Futures Industry Association (FIA), an organisation that works with firms engaged in der

Posted on: 12 Jun, 2014
Posted in: Regulation

FCA backlog of depository authorisations puts fund managers at regulatory risk

Managers risk disruption to their businesses or being in non-compliance with the Alternative Investment Fund Managers Directive (AIFMD) as the UK’s Financial Conduct Authority (FCA) is yet to give regulatory approval to a number of AIFMD depositar

Posted on: 10 Jun, 2014
Posted in: Regulation

Standalone administrators offering full depo must have balance sheet capital strength

Standalone fund administrators offering full depository services subject to strict liability for the restitution of assets under the Alternative Investment Fund Managers Directive (AIFMD) must ensure they have sufficient balance sheet capital to h

Posted on: 02 Jun, 2014

Reverse solicitation under AIFMD will be struggle for non-EU, mid-sized firms

Non-EU managers relying on the yet-to-be-defined concept of “reverse solicitation” to circumvent the EU’s AIFMD...

Posted on: 14 May, 2014
Posted in: Regulation

ManCo platforms could face ESMA clampdown

The European Securities and Markets Authority (ESMA) could clamp down on management company (ManCo) platforms if they are perceived to be letterbox entities when it conducts its review of the Alternative Investment Fund Managers Directive (AIFMD)

Posted on: 12 May, 2014
Posted in: Regulation

ESMA likely to struggle to offer AIFMD guidance

The European Securities and Markets Authority (ESMA) will struggle to adequately publish guidance on the Alternative Investment Fund Managers Directive (AIFMD) in 2015 given the short time-frame following the revised implementation deadline and va

Posted on: 08 May, 2014
Posted in: Regulation


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