Hot Topics Roundtable for Fund Managers - Cybersecurity, Valuation, and More
Thomson Reuters Session 2: Investment Management, Hedge Funds and Registered Mutual Funds: What's Happening Now?
New Manager Forum Panel III – Post-launch Matters
New Manager Forum Panel II – Launch Issues
New Manager Forum Panel I - Critical Pre-launch Considerations
A summary of a private equity firm’s compliance obligations, a discussion of notable developments in 2014 and highlights of the SEC’s examination priorities for 2015.
US federal laws and regulations, as well as the...more
Last week the Financial Conduct Authority (FCA) published two papers likely to have a significant impact on the day-to-day operation of investment fund managers in the immediate and medium term....more
On January 12, 2015, the Small Business Administration (SBA) extended an invitation for all early-stage fund managers to apply for the Early Stage Small Business Investment Company (SBIC) program....more
2014 was a great year for startups seeking funding. Two of the leading reporting companies, PitchBook and CB Insights, report similar trends (both of these reports focus on funding by traditional financial venture...more
Call Notice and Application Process -
On January 12, the U.S. Small Business Administration (SBA) issued a “Call for Early Stage Fund Managers” in the Federal Register, inviting all interested early stage fund managers...more
What is it?
The European Union's Alternative Investment Fund Managers Directive (the Directive) came into force on 21 July 2011. The Member States of the European Union were obliged to transpose the Directive into...more
I was speaking at an event for hedge fund managers the other day to introduce my new book, the Ultimate Guide to The Investment Advisers Act, a Practitioner’s Guide. Dodd Frank introduced many changes to the existing rules...more
On December 10, 2014, the Second Circuit issued an important decision (U.S. v. Newman, No. 13-1837, 2014 WL 6911278 (2d Cir. Dec. 10, 2014)) that will make it more difficult in that Circuit for prosecutors, and most likely...more
In a speech on December 11, 2014, SEC Chair Mary Jo White announced three broad “proactive initiatives” to address the risks of “increasingly complex portfolio composition and operations” in the asset management industry. ...more
On November 26, the European Commission (Commission) issued a press release stating that it has sent formal requests to Latvia, Poland and Spain to provide it with notification of the measures each country has taken to fully...more
After a year of “first ever” actions targeting private equity, fund managers should be vigilant, even about seemingly small issues.
In reviewing the results of SEC Enforcement’s fiscal year that ended on September 30,...more
On November 24, financial institutions including AEGON, Pacific Investment Management Co., Prudential Financial Inc., Kore Advisors LP, Sealink Funding Ltd., TIAA-CREF Bond Fund, and affiliates, sued Citibank N.A. in the...more
What Managers of U.S. and Non-U.S. Investment Funds Should Do Today -
FATCA went into effect on July 1, 2014 and will be phased in through January 1, 2017. During that period, varying compliance deadlines apply to...more
China-Australia Free Trade Agreement -
On 17 November 2014, China and Australia signed a Declaration of Intent regarding the formalisation of the China-Australia Free Trade Agreement (ChAFTA). The signing marked the...more
It has now been a full year since US and other non-EU managers of private funds became subject to the Alternative Investment Fund Managers Directive when seeking to market or sell funds in countries in the European Union. The...more
On September 22, 2014, the Securities and Exchange Commission ("SEC") charged Lincolnshire Management, Inc. ("Lincolnshire"), a New York-based private equity fund adviser, with breaching its fiduciary duty to two investment...more
A failed takeover of a Hong Kong-listed company has highlighted a weakness in English company law.
On 16 June, a proposed take private by way of scheme of arrangement lapsed when the resolution to approve the scheme...more
The JOBS Act and the regulations thereunder (which went effective on September 23, 2013) applies to private issuers – including hedge funds and private equity funds – that want to make general solicitations within the context...more
Registered investment companies that pursue alternative investment strategies (also referred to as "liquid alts") are a relatively new form of offering for investment managers accustomed to operating private investment funds....more
European investment managers of non-UCITs funds will have to be authorised as an alternative investment fund manager (known as an “AIFM” under AIFMD) under the Alternative Investment Fund Managers Directive (“AIFMD”) from 22...more
Ever since the Dodd-Frank Wall Street Reform and Consumer Protection Act required many investment advisers to private equity funds to register with the SEC for the first time, fund managers knew that additional scrutiny might...more
The Division of Investment Management of the Securities and Exchange Commission (the SEC) recently released an IM Guidance Update with respect to the custody rule, Rule 206(4)-2 (the Custody Rule) under the Investment...more
Fund managers may wish from time to time to conduct, or for their principals or affiliates to conduct, securities transactions opposite the fund. The Advisers Act prohibits such transactions – called “principal transactions”...more
Section 457A of the Internal Revenue Code (the Code) generally restricts the ability of offshore funds and other entities domiciled in tax-indifferent jurisdictions to offer tax-advantaged deferred compensation to U.S....more
In this report we consider the FCA’s decision to fine Invesco Asset Management Ltd and Invesco Fund Managers Ltd (together, Invesco Perpetual) £18,643,000 for failings relating to fund management and for exposing investors to...more
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