Asset Management, Financial Services Authority

Orrick's Financial Industry Week In Review - April 2, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/2/2013

In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Commodity Trader Advisor Registration - CFTC Regulations on Associated Persons of Swap Dealers and Major Swap Participants -...more

Summary of FSA Answers to Public Comments on Proposed Amendments to Asset Management Regulations as a Result of the AIJ Scandal

by Tomoko Fuminaga, Norifusa Hashimoto, Koichiro Ohashi, Christopher P. Wells | White & Case LLP on 3/5/2013

This Client Alert is a summary of important observations contained in the response of the Financial Services Agency of Japan (“FSA”) to public comments on proposed amendments to the various financial regulations of Japan in...more

FSA Expresses Concerns About Outsourcing by Asset Managers

by Edward Black | Katten Muchin Rosenman LLP on 12/18/2012

On December 11, the UK Financial Services Authority (FSA) published a “Dear CEO” letter which had been sent to the CEO’s of regulated asset managers outlining its concerns about asset managers’ outsourcing arrangements....more

FSA Requires Asset Managers to Address Conflicts of Interest

by Katten Muchin Rosenman LLP on 11/20/2012

On November 9, the UK Financial Services Authority (FSA) issued a paper entitled “Conflicts of interest between asset managers and their customers: Identifying and mitigating the risks” (the Paper). The Paper resulted from a...more

FSA Fines Manager for Systemic Suitability Failings

by Katten Muchin Rosenman LLP on 11/20/2012

On November 14, the UK Financial Services Authority (FSA) announced that it had fined Savoy Investment Management Limited (Savoy) £412,000 (approximately $653,000) for failing to take reasonable care to ensure the suitability...more

FSA Consultation on the Implementation of the Alternative Investment Fund Managers Directive

by Orrick - Structured Finance Group on 11/20/2012

On November 14, the FSA published its first consultation paper regarding the transposition of the Alternative Investment Fund Managers Directive (AIFMD) into UK law. The consultation paper sets out proposals on the...more

UK FSA Issues First Consultation on AIFMD Implementation

by Proskauer Rose LLP on 11/19/2012

On 14 November 2012, the UK Financial Services Authority (FSA) published Part I (CP1) of its two-part consultation paper series on implementation of the Alternative Investment Fund Managers Directive (AIFMD) in the UK. The...more

The FSA’s Retail Distribution Review – Its Impact on Investment Fund Managers

by Dechert LLP on 11/16/2012

Background - The FSA’s Retail Distribution Review (“RDR”) will come into effect on 31 December 2012. It is the culmination of six years of consultation and discussion (yielding 19 FSA Consultation Papers), FSA...more

FSA’s Administrative Sanctions on Investment Managers and a Trust Bank

by White & Case LLP on 11/3/2012

On October 16, 2012, the Financial Services Agency of Japan (the “FSA”) announced administrative sanctions against an investment manager (a two month business suspension order and a business improvement order) and a trust...more

Tribunal Upholds FSA Decision to Ban and Fine Swiss Fund Manager and Two Former Cantor Fitzgerald Traders for Market Abuse

by Orrick - Structured Finance Group on 10/4/2012

The Upper Tribunal (Tax and Chancery Chamber) (the “Tribunal”) has directed the FSA to fine Stefan Chaligné, a Swiss-based hedge fund manager £900,000, (plus disgorgement of the financial benefit he obtained of €362,950) and...more

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Asset Management › Financial Services Authority

Orrick's Financial Industry Week In Review - April 2, 2013

Summary of FSA Answers to Public Comments on Proposed Amendments to Asset Management Regulations as a Result of the AIJ Scandal

FSA Expresses Concerns About Outsourcing by Asset Managers

FSA Requires Asset Managers to Address Conflicts of Interest

FSA Fines Manager for Systemic Suitability Failings

FSA Consultation on the Implementation of the Alternative Investment Fund Managers Directive

UK FSA Issues First Consultation on AIFMD Implementation

The FSA’s Retail Distribution Review – Its Impact on Investment Fund Managers

FSA’s Administrative Sanctions on Investment Managers and a Trust Bank

Tribunal Upholds FSA Decision to Ban and Fine Swiss Fund Manager and Two Former Cantor Fitzgerald Traders for Market Abuse

FSA’s Proposal to Prevent the Recurrence of the AIJ Scandal and the Results of the Second Survey

FSA Consults on Proposals to Change Client Money and Custody Assets Regime

FSA Publishes a Guidance Consultation on the Risks to Customers from Financial Incentives

FSA to Commence Further Thematic Work on Wealth Management

FSA Proposes to Ban Sales of Unregulated Funds to Retail Clients

FSA Reports on Hedge Funds and Systemic Risk

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