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Compliance

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PGIM secures approval for Dutch AIFM

PGIM has secured approval from the Dutch Authority for the Financial Markets to operate an Alternative Investment Fund Manager (AIFM) from its newly established office in the Netherlands. The office, based in Amsterdam, acts as the AIFM for its existing Irish alternative investment fund and provides investment management, marketing and

Dominic Wheatley, Guernsey Finance

Guernsey consults on introduction of limited liability companies

Guernsey is proposing to adopt limited liability companies (LLC) in a move intended to enhance the island’s competitive position in the United States. The island’s government, the States of Guernsey, has launched a consultation exercise, as it considers following many other international financial centre jurisdictions in introducing LLCs.   LLCs

PE fundraising has bandwidth to accommodate ESG-related regulation

By James Williams & Paul Bryant – Capital is flowing into ESG investments with many private equity GPs now on the case. But to stay ahead, they will need credible evidence of impact, not just slick marketing.    Environmental, social and governance (ESG) investing is fast becoming a juggernaut. In

Luxembourg regulator issues Brexit reminders to UK investment firms

UK fund providers will have until 15 September 2019 to submit a ‘Brexit licence’ to the Luxembourg regulator to continue trading in the Grand Duchy.  The Commission de Surveillance du Secteur Financier (CSSF) is warning that unless firms submit a notification to them by that date, they will be considered

Adam Palmer, ACA Compliance

Less than 2 per cent of firms are fully prepared for SM&CR, says survey

A survey conducted on preparation for the FCA’s Senior Managers and Certification Regime, (SM&CR) has revealed that most firms have significant work to do, as they prepare for its extension to all authorised firms on 9 December. From a pool of over 70 respondents, including asset managers, hedge funds, private equity firms,

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SquareBook secures FCA approval

Following participation in the FCA’s Sandbox initiative in 2018/2019, SquareBook has received regulatory authorisation under Article 25 (2) of the Regulated Activities Order to ‘make arrangements with a view to transactions in investments’.  The FCA approval enables SquareBook to provide new services in the Initial Public Offering (IPO) process to benefit

Kleinberg Kaplan becomes champion sponsor of Women in Funds

Boutique law firm Kleinberg Kaplan has become a champion-level sponsor of Women in Funds, a social community for female leaders in the private investment funds industry and select senior leaders at law firms, allocators, and industry consultants. “As a firm we recognise the need for diversity and we likewise counsel

Regulation

Vistra launches BVI Economic Substance Classification Solutions

Vistra, a global trust, fund administration and corporate services provider, has launched its Economic Substance Services and Solutions, starting with the British Virgin Islands (BVI) Economic Substance Classification Questionnaire designed to help clients determine the classification of their BVI company as it applies to the substance legislation. Developed by Vistra’s

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