The EU Alternative Investment Fund Managers Directive (AIFMD) has now been in force for several months. This overview note is aimed at US managers who have not yet had to get to grips with the AIFMD but will need to raise...more
The Cayman Islands remain the world’s largest domicile of offshore investment funds and a leading international finance jurisdiction known for effective regulation and products which are flexible and relevant.
Having been one of the first countries to implement the Alternative Investment Fund Managers Directive (“AIFMD”) and, as far as we can gather, having been the first country to approve an Alternative Investment Fund Manager...more
With AIFMD taking effect, non-EU alternative investment fund managers should be aware of a new regime governing their marketing of such funds into the EU—the AIFMD's private placement overlay.
Alternative investments in private equity and hedge funds have gained in popularity over the last two decades and have become a regular allocation of many investment portfolios....more
The U.K.’s Financial Conduct Authority (FCA) has published today, a policy statement that sets out its responses to the various consultations that have been undertaken in respect of the rules to be adopted by the FCA to...more
The UK Financial Conduct Authority (FCA) published its Policy Statement 13/5 on 28 June 2013, containing its (substantially) final rules and guidance to implement the Alternative Investment Fund Managers Directive...more
SEC Updates Form PF "Frequently Asked Questions" -
The SEC recently released updated "Frequently Asked Questions" relating to Form PF that, among other things, clarified how Form PF filers should...more
In cases where a US investment adviser appoints an EEA sub-adviser, the parties concerned will need to analyse which entity will be the AIFM. Whether such arrangements relate to group entities or third parties, the parties...more
There has been some uncertainty as to the terms on which non-EEA managers (including US investment advisers) will be able to continue to directly manage the portfolios of EEA domiciled AIFs (e.g. Irish or Luxembourg domiciled...more
This newsletter provides an overview of some of the main financial services regulatory developments in the UK and EU from the period 1 January 2013 to 1 June 2013.
Banking and Prudential Supervision Basel 3/Capital...more
Arrangements allow EU securities regulators to supervise non-EU alternative fund managers and thereby allow such managers access to the EU.
On 30 May, the European Securities and Markets Authority (ESMA) announced that...more
The Organisation for Economic Co-operation and Development (“OECD”) recently published a report in which the Cayman Islands was commended for the “streamlined, efficient and responsive procedures it has is in place to...more
2013 is lining up to be a pivotal and successful year for both the Cayman Islands and the global hedge fund industry. Many of the developments which started in the last decade, ranging from worldwide regulatory and financial...more
In this presentation:
- General Counsel’s Address
- Keynote Address
- General Session — It’s a Small World After All: How Non-U.S. Regulators Affect Your Business
- General Session — Closer to...more
More than seven months after publishing its consultation paper, the European Securities and Markets Authority (ESMA) recently published final guidelines (Guidelines) on sound remuneration policies under the Alternative...more
The German Ministry of Finance published on 4 December 2012 a draft bill amending the German Investment Tax Act, which is the special German tax regime for German investors investing in German and foreign investment funds....more
The French financial regulator, the Autorité des Marchés Financiers (“AMF”), hosted a public presentation on 17 January 2013 for French asset management industry professionals, regarding the implementation of the Alternative...more
On March 19, the UK Financial Services Authority (FSA) published Consultation Paper CP13/9, its second consultation on the rules and guidance required for the UK transposition of the EU Alternative Investment Fund Managers...more
A. Overview -
The investment diversification rules are a critical element in planning for private placement insurance products. One of the underlying marketing premises for the attractiveness of private placement...more
The Alternative Investment Fund Managers Directive (the “Directive”) will introduce new regulatory reporting requirements for alternative investment fund managers (“AIFMs”) covered by the Directive. These will include all...more
The Alternative Investment Fund Managers Directive (“AIFMD”) has been in the public domain for over two years. However, various legal measures, both at European Union (“EU”) and at individual EU Member State (“Member State”)...more