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Legal & Regulation

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FFIs must be FATCA compliant as deadline approaches

Mon, 29/12/2014 - 14:00

Tim Thornton, Chief Data Officer at Mitsubishi UFJ Fund Services, comments on the December 31 FATCA deadline… »

man with megaphone

CFTC issues no action relief for family offices from CTA registration

Thu, 27/11/2014 - 09:00

The US Commodity Futures Trading Commission has issued a no-action letter providing family offices relief from commodity trading advisor registration, in connection with advisory services they provide to family clients. »

law books

SEC charges HSBC’s Swiss Private Banking Unit over unregistered US services

Wed, 26/11/2014 - 11:15

The SEC has charged HSBC’s Swiss-based private banking arm with failing to register before providing cross-border brokerage and investment advisory services to US clients. »

globe

Merrill Lynch and US Trust sign United Nations Principles for Responsible Investment

Wed, 26/11/2014 - 10:15

Bank of America’s Global Wealth and Investment Management (GWIM) division has signed the United Nations-supported Principles for Responsible Investment (PRI). »

James Williams, Hedgeweek

Data management and reporting solutions are key to achieving operational efficiency

Tue, 23/09/2014 - 15:32

It’s a fair assumption to say that the proliferation of hedge fund regulation has spurred technology providers to produce newer, innovative solutions.  »

Gibraltar

Gibraltar gears up to comply with US foreign tax rules

Mon, 11/08/2014 - 13:49

The Rock’s financial services sector must act now to embrace FATCA, warns Nicola Smith, CEO of Gibraltar-based fund administrator, Helvetic. »

Tax

Alter Domus adopts Thomson Reuters FATCA solution

Wed, 23/07/2014 - 15:03

Alter Domus, a provider of fund administration and fund services, has adopted Thomson Reuters FATCA solution across its services platform to improve client identification and on-boarding. »

Approved stamp

Omni Partners obtains licence under AIFMD

Wed, 23/07/2014 - 14:02

The UK Financial Conduct Authority (FCA) has approved Omni Partners’ application for an authorised licence under the Alternative Investment Fund Managers Directive (AIFMD). »

Regulation

AIFMD will bring ‘greater stability’

Mon, 21/07/2014 - 14:54

Arnaud Claudon, head of depositary banking, BNP Paribas Securities Services, says AIFMD will bring ‘greater stability’ to European alternatives market… »

Jersey flag

New charities law puts Jersey at the forefront of philanthropy sector, says Jersey Finance

Mon, 21/07/2014 - 11:46

New legislation approved by Jersey’s government last week will help confirm the jurisdiction as a leading, mature and flexible centre for global philanthropic work, according to Jersey Finance. »

UK flag

UK government ‘Guidance’ plans should be a stepping stone to full advice, says Skandia

Wed, 25/06/2014 - 06:08

Investment business Skandia believes that the “free, impartial face-to-face” guidance revealed by the Chancellor in the recent budget announcement should act only as an introduction to full advice. »

Report

Time for asset management industry to shine, says KPMG report

Tue, 24/06/2014 - 12:37

Opportunities abound for the global asset management industry as the shrinking of the banking sector has thrust asset management to the heart of global capital flows and the pace of regulatory change is starting to ease off, according to a KPMG report. »

Union Jack Pound

British firms fined over GBP500m by FCA in 2013, says Kinetic Partners

Wed, 18/06/2014 - 14:06

The Financial Conduct Authority (FCA) penalised British firms a total of GBP506.94m (USD770m) in 2013, according to research from Kinetic Partners. »

Magnifying glass

ESMA calls for improvements in disclosures related to business combinations

Mon, 16/06/2014 - 15:06

The European Securities and Markets Authority (ESMA) has published a report on the application of accounting requirements for business combinations in IFRS financial statements.  »

Report

MiFID II published in the Official Journal of the EU

Fri, 13/06/2014 - 11:58

The EU has published MiFID II in the Official Journal (OJ) following more than two and a half years of consultation and negotiation. »

Jersey flag

Jersey makes changes to Companies Law

Thu, 12/06/2014 - 10:08

Jersey is introducing changes to its Companies Law, which aim to make the jurisdiction more attractive for those who use Jersey companies for investment structuring, asset holding and a wide variety of other purposes. »

Regulation

Rise of big data to put UK financial services firms in regulatory firing line

Thu, 12/06/2014 - 06:00

The exponential growth of Big Data will trigger a sharp rise in UK financial services firms being investigated, and potentially fined, by regulators, according to Data-as-a-Service provider Anomaly42. »

James Roberts, BDO

Corporate reporting guidance from FRC is timely and important

Tue, 10/06/2014 - 12:17

James Roberts (pictured), Audit partner at BDO, welcomes The Financial Reporting Council’s (FRC) announcement of a programme of work to promote clear and concise reporting from which investors can draw conclusions about a company’s performance, position and prospects… »

Adrian Walker, retirement planning manager at Skandia

Pension reforms risk failure unless income rules are simplified, says Skandia

Tue, 10/06/2014 - 10:04

A swift change to retirement income rules is required in order for the government’s proposed pension reforms to work, according to Skandia, part of Old Mutual Wealth. »

Jersey

Jersey to host four day conference and seminar in partnership with the US SEC

Fri, 06/06/2014 - 15:00

Jersey is to host a high level conference organised jointly by the US Securities and Exchange Commission (SEC) and the Jersey Financial Services Commission. »

Joined hands

DeAWM partners with CAIA

Thu, 05/06/2014 - 12:01

Deutsche Asset & Wealth Management (DeAWM) has formed a new partnership with the Chartered Alternative Investment Analyst (CAIA) Association. »

Robert Shapiro

ATFA’s Robert J Shapiro and Nancy Soderberg support Argentina's settlement with Paris Club

Fri, 30/05/2014 - 14:49

Following Argentina's agreement to resolve its USD9.7 billion in debts to Paris Club member nations within five years, American Task Force Argentina co-chairs Robert Shapiro and Ambassador Nancy Soderberg have declared their support for Argentina's pledge to act responsibly and encouraged the Argentine government to go further. »

Regulation

FCA clarifies dealing commission rules

Fri, 30/05/2014 - 11:50

The Financial Conduct Authority (FCA) is proceeding with its proposals to clarify the dealing commission rules, according to a regulatory update from law firm Cordium. »

Tax

Guernsey set to join OECD’s top club in fight against tax evasion

Fri, 30/05/2014 - 09:38

The OECD and the Council of Europe’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters will be effective in Guernsey from the start of August. »

Up arrow

Regulators’ expenditure increases by nearly 60 per cent in recent years

Wed, 28/05/2014 - 12:00

US, UK and Hong Kong financial services regulators have increased their expenditure over the last seven years by 59.4 per cent, an average of 8.075 per cent each year, since the end of fiscal year 2006/07, according to Kinetic Partners. »

Gold bars

Barclays fined GBP26m for failings surrounding London Gold Fixing

Tue, 27/05/2014 - 10:05

The Financial Conduct Authority (FCA) has fined Barclays Bank GBP26,033,500 for failing to adequately manage conflicts of interest between itself and its customers as well as systems and controls failings in relation to the Gold Fixing. »

Gavel

Supreme Court LLP 'whistle-blowing' ruling is good news

Thu, 22/05/2014 - 09:34

Michelle Chance, Partner, Employment and Partnership law, at Kingsley Napley LLP comments on the Supreme Court judgment determining that LLP members should be defined as workers in respect of the Public Interest Disclosure Act 1998… »

Gibraltar

Gibraltar signs FATCA intergovernmental agreement with US

Thu, 15/05/2014 - 10:07

Gibraltar has signed an intergovernmental agreement (IGA) with the US to improve international tax compliance and implement the Foreign Account Tax Compliance Act (FATCA). »

Money and calculator

FCA sets out expectations for investment managers on dealing commission

Fri, 09/05/2014 - 12:08

Investment managers should only use client dealing commission to pay for substantive research or costs related to executing trades, according to a Financial Conduct Authority (FCA) policy statement. »

Gavel and scales

Invesco Perpetual fined GBP18.6m for failings in fund management

Wed, 30/04/2014 - 06:20

The Financial Conduct Authority (FCA) has fined Invesco Perpetual GBP18,643,000 for exposing investors to greater levels of risk than they had been led to expect.   »

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Lyxor Asset Management - Why trend-following strategies are back on track

This Hedgeweek Special Report explains not only why managed futures should be reconsidered by investors, but also how a more effective risk allocation strategy can benefit investor portfolios in both correlated and non-correlated markets... »

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Voting for the 3rd edition of the Wealth Adviser Awards, which recognise excellence among wealth managers and service providers including trust companies, law and accounting firms, has now closed. A list of winners will be announced in due course. ... »

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Neil Williams, Hermes

Hermes Chief Economist Neil Williams comments on the latest UK inflation statistics… ... »

Comment
Andrew Milligan, Standard Life Investments

2015 a pivotal year for global markets

Mon, 22/12/2014 - 09:57

Standard Life Investments, the global investment manager, believes that 2015 has all the hallmarks of a pivotal year for global financial markets. Andrew Milligan, Head of Global Strategy, Standard Life Investments, comments… ... »

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