Legal & Regulation
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By Martin Lovick (pictured), Senior Principal Consultant, ACA Compliance Group – Sexual harassment and other forms of “non-financial misconduct” are now on equal footing with types of financial misconduct, such as market abuse, for the UK Financial Conduct Authority (FCA). Firms and employees are at risk of regulatory sanctions – including, for individuals, the possibility of not being found to be “fit and proper” – for failure to fulfil the FCA’s evolving diversity and inclusion (D&I) expectations.
New research from Luxoft, a global technology services and consulting partner, has revealed that Tier one, Tier two and Tier three investment banks are overconfident about the EU’s new Securities Financing Transactions Regulation (SFTR), which comes into force next April.
Two-thirds of alternative investment fund managers predict a rise in regulatory arbitrage between EU member states
Over two-thirds (67 per cent) of alternative investment fund managers believe the prospect of regulatory arbitrage between European Union member states seeking to attract business is likely to grow over the next two years, according to a new study.
The recent publication of a new policy from the European Investment Bank (EIB) Group provides some welcome clarity around Jersey’s ability to continue to support the objectives of the European Investment Fund (EIF), according to the head of Jersey Finance.
Guernsey funds have been reopened to millions of euros of potential investment as a result of the confirmation from the European Council of Finance Ministers (ECOFIN) that the island is considered a transparent and cooperative jurisdiction by the European Union.
Guernsey’s financial services regulator has signed a Memorandum of Understanding with the UK’s Financial Conduct Authority to ensure market access for Guernsey investment funds into the UK after Brexit.
JTC has been granted a depositary licence by Luxembourg’s Ministry of Finance and is now able to offer a full range of services to alternative investment funds (AIFs) domiciled in Luxembourg, including depositary of assets other than financial instruments.
Maples and Calder and MaplesFS which together comprise Maples Fiduciary and Maples Fund Services, have consolidated their offerings under a single brand, now called the Maples Group.
The Spanish Venture Capital & Private Equity Association (ASCRI) and law firm Cuatrecasas have launched a handbook of ‘Good practice guidelines for investors and private equity entities in Spain’.
According to the Monterey Fund Report 2018, Mourant has once again maintained its leading position as the go-to legal adviser in Jersey's funds industry, advising on over 46 per cent of all funds by market share of assets.