In this issue

- The German “Part II Fund”: Maximum Flexibility for Mutual Funds and a New Opportunity for German Market Entry p. 1

- New Disclosure Requirements for Dealings in Financial Instruments in Germany p. 4

- U.S. Money Market Funds and the European Sovereign Debt Crisis p. 6

- UK Serious Fraud Office Increases the Burden on Institutional Investors p. 10

- Outsourcing for U.S. Financial Institutions After Dodd-Frank: Regulation, Risk and Governance p. 14

- Hong Kong’s New Anti-Money Laundering Law p. 17

- New Channel of Mutual Fund Distribution in Mainland China p. 20

- Self-Managed Alternative Investment Funds: A New AIFMD-Compliant Structure? p. 22

- Upcoming and Recent Events p. 25

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