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Liechtenstein Submits AIFM Bill To Parliament 5/23/2012 During a recent sitting, the Liechtenstein government submitted to parliament
a bill providing for the transposition of the European Union’s 2011 Alternative
Investment Fund Managers Directive into national law.
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Qatar DTA Will Boost Investment In Bermuda, Says Cox 5/11/2012 Bermuda's Premier, and Minister for Finance, Paula Cox, has stressed that the signing of a Double
Tax Agreement with Qatar will significantly strengthen the territory's ability to act as
a western hub for the Islamic financial services industry.
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Hong Kong Concerned At Operation Of US Volcker Rule 5/14/2012 Following is a question in the Legislative Council, the Secretary for Financial
Services and the Treasury, Professor K C Chan, confirmed that Hong Kong shares
the concerns raised by other financial markets, such as Canada, France, Germany,
Japan and the United Kingdom, over the extra-territorial reach and the implementation
of the United States’ Volcker Rule restrictions.
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Regulatory Change To Drive Onshore Fund Growth 5/9/2012 French hedge funds and the securities regulator AMF believe the Alternative Investment Fund Managers Directive will - more than UCITS - boost investor confidence in hedge funds and pave the way for potentially significant asset growth.
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Volcker Rule Conformance Period Clarified 4/25/2012 The United States Federal Reserve Board has clarified that an entity covered
by the Volcker Rule section of the Dodd-Frank Wall Street Reform and Consumer Protection
Act has the full two-year period provided by the statute fully to conform its
activities and investments.
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BIS Issues Final Principles For FMIs 4/20/2012 The Bank for International Settlement’s Committee on Payment and Settlement
Systems and the technical committee of the International Organization of
Securities Commissions have published the final version of their ‘Principles
for Financial Market Infrastructures’ report.
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Details Provided Of Taiwan's Proposed CGT 4/17/2012 Taiwan's Finance Minister Christina Liu has announced the structure
of the new capital gains tax that the government will impose on profits made from trading in shares, bonds and derivative products, such as futures and options.
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Guernsey Fund Of Hedge Funds Receives European Accolade 4/11/2012 Guernsey-headquartered Legis Fund Services has been recognised as 'Best Administrator
- under USD30bn Fund of Hedge Funds' at the HFMWeek European Services Provider
Awards.
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US Approves Final Rule On Shadow Banking 4/6/2012 The United States Financial Stability Oversight Council has issued its
final rule and interpretive guidance on the Federal Reserve Bank’s authority
to require supervision and regulation of nonbank financial companies.
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China Expands RMB Overseas Investment Scheme 4/6/2012 After close consultations between Hong Kong’s Securities and Futures Commission, the People's Bank of China and China’s State Administration of Foreign
Exchange, the China Securities Regulatory Commission has announced an expansion
of the Renminbi Qualified Foreign Institutional Investor scheme.
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EU Consults On State Support For Film Finance 3/21/2012 The European Commission has launched a consultation on the state aid criteria
it proposes to use to assess proposals from member states to provide tax relief and other concessions to film financiers.
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Guernsey Firm Gets CSP Licence 3/12/2012 Guernsey-based firm Alter Domus, a leading independent provider of professional
administration services for multinational corporations and alternative investment
funds, has received approval from the Guernsey Financial Services Commission
to provide a wider range of products and services.
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European Commission Acts On Securities Settlement 3/8/2012 In an attempt to bring more safety and efficiency to the financial system in Europe,
the European Commission has proposed the establishment of a European common regulatory
framework for Central Securities Depositories, the institutions responsible
for securities settlement.
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Guernsey Fund Sector Growth Tails Off 3/7/2012 New figures from the Guernsey Financial Services Commission shows that the
island's fund sector contracted by 3.7% during the final quarter of 2011, with
GBP10.2bn being shaved off the island's net asset value of funds under management
and administration.
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Germany Upbraided Over Art Tax Break 3/5/2012 The European Commission has officially asked Germany to change its value-added
tax rules as regards the application of a reduced rate to the supply of
works of art and collectors' items.
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Guernsey Reviews Collective Investment Scheme Rules 2/15/2012 The Guernsey Financial Services Commission has published a consultation document on new rules to be placed on 'Class B' Collective Investment Schemes.
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EU Finalises OTC Derivatives Market Rules 2/14/2012 After a long period of negotiation, a deal on new European legislation to regulate
trade in over-the-counter derivatives, and aimed at increasing transparency
and reducing risk, has been agreed between the European Parliament and the
Council of the European Union.
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Guernsey Firms Scoop Offshore Business Awards 2/14/2012 A number of Guernsey-based law and wealth management firms were among the winners at the recent Citywealth Offshore Awards in London.
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ESMA Outlines New ETF Regulatory Framework 2/3/2012 The European Securities and Markets Authority has published a consultation
paper setting out future guidelines on the use by UCITS of exchange-traded funds and other UCITS-related issues.
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Better Capital Funds Employ Unique Guernsey Structure 1/31/2012 Carey Olsen and Heritage International Fund Managers Limited have acted for Better
Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock
Exchange, on its innovative conversion into a uniquely-structured protected cell company.
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EU Modifies Derivatives Proposals 1/27/2012 In an effort to achieve a rapid agreement with the European Parliament, the
European Council has adjusted its position on a draft regulation aimed at
increasing transparency on all derivatives and reducing risk in the over-the-counter derivatives market.
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Jersey Attracts Nordic Investment Fund 1/17/2012 Leading offshore law firm Mourant Ozannes has advised on the establishment
of a new private equity fund focusing on Nordic business investments, which is managed by a Jersey general partner.
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Hong Kong Issues Advice On RMB Investment Products 1/17/2012 Hong Kong’s Securities and Futures Commission has published a list
of frequently asked questions on its website to help investors understand the
key features and risks specific to a new class of investment products which directly
invest in mainland China’s bond and equity markets.
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Hong Kong, Shanghai Enhance Financial Co-operation 1/9/2012 Following the signing in 2010 of the Memorandum of Understanding Concerning Advancing
Hong Kong-Shanghai Financial Co-operation, officials held their second working
meeting on January 6, 2012, in Shanghai, to enhance financial co-operation between
the two places.
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IoM Amends AML/CTF Handbook 12/30/2011 The Isle of Man's Financial Supervision Commission has announced amendments to
the territory's Anti-Money Laundering and Countering the Financing of Terrorism handbook.
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South Africa Looks For Adviser On Islamic Bond Issues 12/9/2011 Within the government’s programme to encourage foreign direct investment
in South Africa, the National Treasury is inviting banking institutions to submit
proposals for the provision of advisory services for the structuring and issuance
of a South African government Islamic bond in the domestic and international markets.
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IoM Touts Its Competitive Advantage To London Funds Industry 11/24/2011 The Isle of Man's Chief Minister, Allan Bell has underlined the strength and diversity
of the Isle of Man's economy in a keynote address to forum attendees in the City
of London.
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G20 Leaders Endorse FSB's Regulatory Measures 11/8/2011 The recent G20 Leaders Summit in Cannes endorsed the implementation of various
financial system reform measures developed by the Financial Stability Board,
particularly strengthening the oversight of global systemically important financial
institutions.
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FSB Tackles Shadow Banking Regulations 11/2/2011 The Financial Stability Board has published a report providing its recommendations
on strengthening oversight and regulation of the shadow banking system, as was
requested by the G20 Leaders at their November 2010 Summit in Seoul.
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SEC Finalises Hedge Fund Reporting Rules 11/1/2011 The Securities and Exchange Commission has adopted new rules requiring certain
advisers to hedge funds and other private funds to report information for use
by the Financial Stability Oversight Council in monitoring risks to the
United States financial system.
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EU To Modify Transparency Directive 10/28/2011 The European Commission is proposing to modify notification requirements
for acquirers when they reach a certain stake in a listed company, reduce burdensome
reporting obligations for all listed companies, and simplify accounting rules
for small- and medium-sized enterprises, to produce further cost savings
for businesses.
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Hong Kong Checks On Chinese Support Measures 10/26/2011 Concluding a trip to Beijing, Hong Kong’s Financial Secretary John Tsang
has confirmed that he had held “solid discussions” with relevant bodies
in Mainland China to follow up on the policies and measures Vice Premier Li Keqiang
set out, in August this year, to support Hong Kong’s development.
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EU Proposes Revision Of MiFID 10/25/2011 In response to changes in financial markets since it was introduced in November
2007, the European Commission has tabled proposals to revise the Markets in Financial
Instruments Directive, which aims to make those markets more efficient,
resilient and transparent, and to strengthen the protection of investors.
|
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EU Proposes Enhanced Insider Dealing Regulation 10/24/2011 The European Commission has adopted a proposal for a European Union regulation on insider dealing and market manipulation, aimed at updating and strengthening
the existing framework provided by the Market Abuse Directive.
|
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Hong Kong Consults On OTC Derivatives Regulation 10/20/2011 The Hong Kong Monetary Authority and Securities and Futures Commission have issued a joint consultation paper on the proposed regulatory regime
for Hong Kong’s over-the-counter derivatives market.
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US Regulators Issue Proposed Volcker Rule 10/14/2011 The Federal Reserve Board of the United
States has requested public comment on a proposed regulation implementing the
so-called 'Volcker Rule' requirements of the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
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Guernsey, Luxembourg Explore Fund Sector Synergies 10/12/2011 A team from Guernsey’s fund industry hosted an event in Luxembourg last
month aimed at boosting cooperation between the two jurisdictions, discussing
ways in which service providers in the two centres can work together more effectively
for mutual benefit.
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SEC Expresses Concerns Over Credit Rating Agencies 10/4/2011 The staff of the United States Securities and Exchange Commission have issued
a report summarizing their observations and concerns arising from examinations
of credit rating agencies registered with the SEC as Nationally Recognized
Statistical Rating Organizations.
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FSB Explains Work To Be Done On Shadow Banking 9/6/2011 Following the meeting in Paris on July 18 this year of the Financial Stability
Board, where initial recommendations were approved for strengthening oversight
of the shadow banking system, its Task Force on Shadow Banking has identified five areas
where more detailed work is warranted to help gauge the case for further regulatory
action.
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Hong Kong Welcomes Chinese Support Measures 8/22/2011 Hong Kong’s government has welcomed the package of measures disclosed during
his recent visit by the Vice-Premier of China’s State Council, Li Keqiang,
to support economic and financial development in Hong Kong.
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Guernsey Firm Pioneers Aircraft Leasing Venture 8/3/2011 Another new Guernsey company has for the first time been listed on the London Stock Exchange offering investment in A380 aircraft operated by Emirates.
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SEC Issues Large Trader Reporting Rule 8/1/2011 The United States Securities and Exchange Commission has adopted a new rule
establishing large trader reporting requirements, so as to enhance its ability
to identify large market participants, collect information on their trading, and
analyse their trading activity.
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Jersey Ready For AIFMD 7/29/2011 An expert panel of leading practitioners and regulators from Europe, the UK
and Jersey has said that Jersey's strategy for engaging with the Alternative
Investment Fund Managers Directive is proving effective, and the island is on
track to take advantage of the potential opportunities.
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Hong Kong, Citibank Reach Agreement On Lehman Notes 7/11/2011 The Securities and Futures Commission and the Hong Kong Monetary Authority
have announced that an agreement has been reached with Citibank (Hong Kong) Limited in relation to its distribution in Hong Kong of market-linked notes and equity-linked notes issued by Lehman Brothers between March 2007 and June 2008.
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SEC Adopts Hedge Fund Registration Rules 6/27/2011 The United States Securities and Exchange Commission has adopted rules that
impose new registration requirements on advisers to hedge funds and other private
funds, while establishing new exemptions from such registration and reporting
requirements for certain advisers.
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Hong Kong Welcomes Higher Lehman Minibond Repayments 6/20/2011 The Hong Kong Monetary Authority and Securities and Futures Commission have welcomed the announcement of higher recovery percentages for the so-called
"minibonds", which were distributed by Hong Kong’s banks and guaranteed
by Lehman Brothers.
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Caymans To Introduce Hedge Fund Levy 6/14/2011 The Cayman Islands is to regulate and tax certain types of hedge funds for the first time, under a new measure brought in by the Budget.
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Consultation Extended On US Credit Risk Retention Rules 6/13/2011 The relevant United States federal agencies, including the Federal Reserve, the
Federal Deposit Insurance Corporation, and the Securities and Exchange Commission,
have extended the comment period on the proposed rules to implement the credit
risk retention requirements of the Dodd-Frank Wall Street Reform and Consumer
Protection Act.
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Australia Tightens Tax Rules On Collectables 6/6/2011 The Australian Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, has released draft Regulations outlining rules for self managed superannuation fund investment in collectables and personal use assets.
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Cayman Funds Begin Bounce-Back 6/3/2011 Newly released figures show that, while some of the negative effects of the global financial crisis continued to impact on the Cayman Islands' regulated fund industry in 2009, the year saw an upsurge in positive returns, and a substantial increase in net income.
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UK's Fund Tax Regime Makes It Key Domicile 5/31/2011 The UK is open for business as a domicile for both funds and management companies, the Investment Management Association has declared, stressing that the country's fund tax regime places it high on the list of attractive domiciles.
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EU Derivatives Trading Regulations Draw Closer 5/27/2011 New European Union legislation, drafted by the European Commission and
designed to regulate the trade in derivatives, moved a step closer on May 24 following
approval of amendments by the Economic Affairs Committee of the European
Parliament.
|
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CISX Lists 4,000th Security 5/26/2011 The Channel Islands Stock Exchange Market Authority has announced the admission
of the 4,000th security to its Official List.
|
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IOSCO Finalizes Principles On Dark Liquidity 5/25/2011 The Technical Committee of the International Organization of Securities Commissions has published a final report, containing principles to assist securities markets authorities in dealing with issues concerning dark pools of liquidity.
|
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SEC Proposes Credit Rating Rules 5/23/2011 The United States Securities and Exchange Commission has voted unanimously
to propose new rules and amendments intended to increase transparency and improve
the integrity of credit ratings.
|
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EU Moves Forward On Short Selling Rules 5/20/2011 The Economic and Financial Affairs Council of the European Union, meeting
in Brussels, has agreed on the general approach to a draft regulation on short
selling and certain aspects of credit default swaps.
|
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Chan Extols Hong Kong's Hedge Fund Regulation 5/16/2011 In the Legislative Council, the Secretary for Financial Services and the Treasury,
Professor K C Chan, has been able to reassure a questioner that Hong Kong’s
regulatory regime for hedge funds, private equity funds and other alternative
investments more than conforms to international standards.
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US Government Recovers Over Half Of MBS Investment 5/6/2011 In providing an update on the wind down of the agency-guaranteed mortgage-backed
securities portfolio acquired during the recent financial crisis, the United
States Treasury has disclosed that it has now recovered more than half of its
original USD225bn investment.
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Bermuda Open For Islamic Investment 5/5/2011 The Bermuda Monetary Authority has released a set of guidelines outlining the regulatory requirements necessary for the establishment of Islamic investment funds in Bermuda, designed to promote understanding, compliance and investment levels.
|
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EU Launches CDS Market Antitrust Investigations 5/4/2011 Complementary to its other measures to improve the regulation of derivatives in financial markets, the European Commission has opened two antitrust investigations
concerning the credit default swaps market.
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Jersey Preparing Flexible AIFM Regime 4/21/2011 Following confirmation of the Alternative Investment Fund Manager Directive at the end of 2010, Jersey has
announced that it is working to deliver a range of flexible options, including
a fully AIFMD-compliant regime and to retain existing complementary regimes
for asset managers that have no wish to access EU institutional capital under
an AIFMD passport.
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Bill Seeks To Delay Dodd-Frank Act Changes 4/19/2011 A bill has been introduced into the United States House of Representatives, which
would extend the deadline by 18 months for implementing certain provisions of
the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
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FSB Examines ETFs And Shadow Banking 4/18/2011 The Financial Stability Board has published notes on financial stability
issues in relation to exchange-traded funds and on its work to develop recommendations
to strengthen the oversight and regulation of the shadow banking system.
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US Financial Agencies Consult On Risk Retention Rules 4/5/2011 Several United States financial regulatory authorities, including the Federal
Reserve, the Federal Deposit Insurance Corporation and the Securities and Exchange
Commission, are seeking public comment on a proposed rule that would require sponsors
of asset-backed securities to retain at least 5% of the credit risk of the
assets underlying the securities, and would not permit sponsors to transfer or
hedge that credit risk.
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US Financial Agencies To Propose Risk Retention Rules 4/1/2011 Several United States financial regulatory authorities, including the Federal
Reserve, the Federal Deposit Insurance Corporation and the Securities and Exchange
Commission, have announced that they are considering risk retention rules for
the issuers of securitised financial products.
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BoE Flags Credit Rating Concerns 3/31/2011 Within a financial stability paper on the future of the credit ratings industry,
written under the auspices of the Bank of England, its authors suggest that investors
are still over-reliant on the views of the credit rating agencies.
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Hong Kong Agrees Lehman Minibond Repayments 3/29/2011 In a case said to involve over 40,000 investors, who put some USD2bn into the
so-called 'minibonds' distributed by Hong Kong’s banks and guaranteed
by Lehman Brothers, sixteen of those banks and PricewaterhouseCoopers, the receivers
of the minibond collateral, have announced an agreement concerning the recovery
of a large proportion of their investments.
|
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Switzerland's First Onshore Hedge Fund Launched 3/28/2011 Swiss and Global Asset Management has launched the first single-manager hedge fund, the Swiss Hedge Trading Fund, to be regulated by Switzerland’s Financial Market Supervisory Authority.
|
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International Gaming Regulator Re-Establishes In Nevada 3/18/2011 The International Association of Gaming Regulators has successfully been reorganized
into a non-profit corporation in the state of Nevada, USA, under a format that
is expected to increase its role as a representative on behalf of the international
gambling regulatory community, and as an advocate for the enhancement of gaming
regulation worldwide.
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IoM To Amend Financial Services Act 3/9/2011 The Isle of Man’s Financial Supervision Commission has announced the first proposed
amendments to the Financial Services and Collective Investment Scheme Acts since
their inception in 2008.
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Guernsey Funds Top GBP250bn 3/8/2011 The Guernsey Financial Services Commission has published statistics in respect
of the island’s funds industry for the final quarter of 2010, which show a healthy increase in the asset value of funds under management and administration in the jurisdiction.
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Listing Growth Continues At CISX 3/7/2011 357 new securities were admitted to the Official List of the Channel Islands' Stock Exchange during 2010, the exchange has announced.
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SEC Proposes Wall Street Bonus Disclosure Rules 3/7/2011 The United States Securities and Exchange Commission has proposed a rule
that would require brokers, dealers and investment advisers with USD1bn or more
in assets, to disclose the structure of their incentive-based compensation practices,
and prohibit them from maintaining compensation arrangements that encourage inappropriate
risks.
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MEPs Consider Derivatives Regulation 3/3/2011 The Economic Affairs Committee of the European Parliament has begun its consideration
of European Union legislation to regulate derivatives trading.
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Securis Launches Guernsey Insurance Fund 3/1/2011 London-based Securis Investment Partners has announced the launch of a Guernsey-incorporated, closed-ended fund, Securis Income Fund Limited, which - through a listing on the main market of the London Stock Exchange - will provide financing to its Insurance Linked Securities portfolio, with the latest offering operating as a feeder fund to the firm's flagship fund, Securis I Master Fund.
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Hong Kong Consults On Expanding Specified Stock Exchange List 2/23/2011 Hong Kong’s Securities and Futures Commission has begun a two-month
public consultation on proposals to expand the lists of 'specified'
local and overseas stock and futures exchanges.
|
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BATS Global Markets Considering Brazil Move 2/21/2011 The global stock exchange operator BATS has announced its intention 'to explore opportunities in the Brazilian market,' signing a Memorandum of Understanding with the Sao Paulo-based independent asset manager Claritas to this effect.
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Federal Reserve Introduces Volcker Rule 2/15/2011 The United States Federal Reserve Board has announced its approval
of a final rule to implement the provisions of the Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010 that give banking firms a
period of time to conform their activities and investments to the prohibitions
and restrictions of the so-called Volcker Rule.
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Luxembourg Presents Financial Centre Action Plan 2/11/2011 Luxembourg’s Finance Minister Luc Frieden has recently presented details
of work carried out by the High Committee responsible for the country’s
financial centre, and unveiled details of the key development axes for the financial
centre in 2011.
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Mauritius Stock Exchange Recognized By UK Taxman 2/8/2011 The Stock Exchange of Mauritius has been designated as a recognised stock exchange
for the purposes of HM Revenue and Customs's tax treatment.
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Australia Tightens Rules On Investment In Collectables 2/3/2011 Self-Managed Superannuation Funds in Australia will continue to be allowed to invest in collectables and personal use assets like artwork or stamps, provided they are held in accordance with tightened legislative standards.
|
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SEC Moves To Regulate Swaps 2/4/2011 The United States Securities and Exchange Commission has voted unanimously
to propose rules defining swap execution facilities and establishing their
registration requirements, as well as their duties and core principles.
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US Commission Says Financial Crisis Was Avoidable 2/1/2011 The investigation of the Financial Crisis Inquiry Commission into the causes
of the 2008 financial crisis from 2008 has concluded that it was “avoidable”
and was due to a variety of causes, rather than any one in particular.
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SEC Proposes Hedge Fund Reporting Rule 1/28/2011 The United States Securities and Exchange Commission has proposed
a rule to require advisers to hedge funds and other private funds to report information
for use by the Financial Stability Oversight Council in monitoring risk
to the US financial system.
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New Regulations Cause Derivatives Management Problems 1/27/2011 Recently published research by BNY Mellon shows that, to accommodate the new regulatory
requirements emerging in the United States and Europe, there are significant gaps
in the management and mitigation of counterparty credit risk by buy-side institutional
investors.
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Think Tank Supports US Transactions Tax 1/26/2011 The Center for Economic Policy and Research, Washington, has pointed out
that, while most other plans for reducing the projected United States fiscal deficit
have not included a financial speculation tax in the mix, this seems peculiar
since such a tax could be attractive as a revenue source.
|
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SEC Approves New Securitization Rules 1/25/2011 The United States’ Securities and Exchange Commission has voted to
adopt two sets of new rules designed to help revitalize the asset-backed securities market by encouraging better disclosure for investors.
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FSOC Issues Rules And Recommendations Under Dodd-Frank Act 1/20/2011 As required by the United States Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010 (Dodd-Frank Act), the Financial Stability Oversight Council
(FSOC) has issued studies, recommendations and proposed rules, particularly on
the implementation of the ‘Volcker Rule’.
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Guernsey In Aircraft Investment Company First 1/13/2011 Guernsey Finance – the promotional agency for Guernsey's financial
services industry – has noted the listing on the London Stock Exchange of
a new Guernsey company offering investment in an A380 aircraft operated by Emirates
airline.
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Jersey Finance Appoints Head Of Marketing 1/5/2011 Jersey Finance has announced the appointment of a new Head of Marketing to promote
the island’s financial services industry - David Vieira.
|
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US Justice Dept Criticizes Proposed Derivatives Rules 1/5/2011 Christine Varney, Assistant Attorney General in the United States Justice Department’s
Antitrust Division, has written to both the Commodity Futures Trading Commission and the Securities and Exchange Commission suggesting changes to
their proposals to reduce conflicts of interests on derivative and swap clearing
organizations and trading platforms.
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Luxembourg Launches Islamic Finance Guide 1/3/2011 Luxembourg for Finance – the agency with responsibility for the development
of Luxembourg's financial centre – has enhanced its website through the
addition of a section dedicated to shariah-compliant products and services.
|
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Jersey Updates Licensing Of Financial Services 12/22/2010 The Jersey Financial Services Commission on December 17 issued an updated
version of its licensing policy applicable to entities that are require to be registered under
the Financial Services (Jersey) Law 1998.
|
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IoM Preparing For EU Funds Directive 12/10/2010 Following approval of the Alternative Investment Fund Manager Directive by the
European Parliament, the Isle of Man has confirmed that it welcomes the final
Directive, and has said work is already under way to ensure its regime will meet
key regulatory criteria under the Directive.
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SEC, CFTC Move On US Swap-Related Financial Reforms 12/9/2010 The United States Securities and Exchange Commission and the Commodity
Futures Trading Commission have proposed joint rules that would further
define a series of terms related to the security-based swaps market, and will
jointly host a roundtable to discuss issues related to capital and margin requirements
for both swaps and security-based swaps.
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IoM Seeks To Develop Funds Regime 12/7/2010 The Isle of Man Financial Supervision Commission on December 1 published two papers,
developed in conjunction with the Funds Development Group, which aim to support
the ongoing development of the island’s funds industry.
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South Africa Publishes Draft Pension Regulations 12/6/2010 South Africa’s National Treasury has published the second draft of proposed
amendments to Regulation 28 of the Pensions Fund Act for further and final public
comment, as was indicated in the Medium-Term Budget Policy Statement in October
this year.
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Guernsey Boasts Booming Funds Industry 11/30/2010 Investment fund business in Guernsey grew by GBP18.9bn (8.4%) during the third
quarter of this year, figures released by the Guernsey Financial Services Commission
show.
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IoM Holds London Funds Briefing 11/25/2010 Speaking at the recent Isle of Man Funds’ Autumn Briefing in London, the island’s
Minister for Economic Development, Alan Bell, noted the Isle of Man fund industry’s
resilience during the crisis, underpinned, he said, by its increasingly diverse
nature.
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Swiss Bankers Welcome AIFM Directive 11/24/2010 The Swiss Bankers Association has recently published its comments on the
adoption by the European Parliament of the European Directive on Alternative
Investment Fund Managers, which aims to create a comprehensive and secure
framework for the supervision and prudential oversight of alternative investment
fund managers within the European Union.
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