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The FCA fined firms and individuals a total of GBP1.23 billion in 2014 for market integrity related breaches, which included abusive market behaviour such as: manipulation, insider dealing, FX failings and benchmark (i.e. Libor) manipulation.
That’s according to Kinetic Partners’ annual Global Enforcement Review which draws on publicly available data from financial services regulators across the UK, US and Hong Kong to assess regulatory trends and their effects on the financial services industry.
Kinetic Partners’ research also found that market integrity was the second most cited offence among fines filed by the FCA against either firms or individuals, totalling
To help overcome the increased reporting burden faced by private equity managers, SEI has developed an automated end-client reporting capability. It comes at a time when global PE firms are having to adapt to regulation in the form of AIFMD and Annex IV reporting, not to mention a desire by LPs to derive greater transparency from their PE allocations.
Indeed, LPs are themselves coming under increased regulation – for example, insurance companies who need look-through reporting capabilities to manage their Solvency Capital Ratios under Solvency II.
This is putting pressure on back-office teams to generate reports in a more timely
Global law firm Reed Smith has advised CBPE Capital, and the selling shareholders, on the sale of restaurant group Côte Restaurants (Côte) to BC Partners.
Reed Smith also advised the continuing management team on the investment aspects of the deal. The sale represents a money multiple of 2.9x CBPE’s original investment.
The team, led by Philip Taylor, also advised CBPE on the acquisition of Côte in September 2013.
The full Reed Smith team comprised partners Philip Taylor, James Cross and Caspar Fox and associates Emma Gilks and Sarah Crabtree.
Dickson Minto W.S. advised BC Partners on the deal,
An affiliate of Vessey Street Capital Partners (VSCP) has acquired Imedex, a provider of accredited, independent Continuing Medical Education (CME) to industry professionals via in-person conferences and online education forums.
Located in Alpharetta, Georgia, Imedex was previously a subsidiary of AmerisourceBergen, a global pharmaceutical sourcing and distribution service company.
“Imedex plays a critical role educating physicians in key specialty areas within the healthcare spectrum, including oncology, hematology, and gastroenterology. The Company’s leading industry presence and world class content will provide significant growth over the long-term. We view this as an excellent platform acquisition and hope to deploy additional capital
Fenergo, a provider of Client Lifecycle Management software solutions for investment banks, capital market firms and private banks, has secured a USD75 million investment from Insight Venture Partners.
The transaction is expected to close within the next few weeks.
The new capital will be used to grow the company's global footprint and presence in new and existing international markets and develop a partner ecosystem, which includes establishing Fenergo University and Consulting Accreditation Program to empower partners to implement Fenergo solutions. Continued investment will be made in R&D to make Fenergo Client Lifecycle Management and Regulatory Onboarding the industry standard.
Private equity firm Frontier Capital’s USD390 million Frontier Fund IV has made a USD30 million growth investment in Tango, a Dallas-based software-as-a-service (SaaS) consulting and managed services business.
“Tango has served as the trusted advisor for more than 120 retail brands, and its Intelligent Store Lifecycle Management solution is used by many of the world’s leading retail and restaurant enterprises, including Yum! Brands, Inc, Dunkin’ Brands Group, Inc, Big Lots, Inc, Lane Bryant and Tractor Supply Company,” says Andrew Lindner (pictured), managing partner, Frontier Capital. “Tango has earned a solid reputation by transforming how retail and restaurant companies manage their
Private equity firm Waterland Private Equity has acquired a majority stake in Napoleon Games, a Belgian specialist in gaming and sports betting.
Napoleon Games was founded in the ‘50s and has grown into the Belgian market leader in the gaming sector. The group is primarily known for its successful online platform (napoleongames.be), and is among others sponsoring AA Gent, the reigning champion in Belgian football, as well as the professional cycling team Sunweb-Napoleon Games. Over the last few years, the group has grown rapidly and completed its product offering through significant investments in the online platform.
In order to sustain
VentureFounders, the UK-based equity crowdfunding platform for sophisticated investors, has today launched a GBP850,000 raise for Vashi, one of the UK’s best known diamond jewellers.
With sales currently predominantly made online, Vashi is seeking to raise GBP850,000 in this Enterprise Investment Scheme (EIS) eligible round, at a pre-money valuation of GBP6 million. Over GBP450,000 has already been raised from existing and new investors, with VentureFounders supporting the round with a GBP315,000 raise.
Through the money raised, Vashi is looking to further grow its sales channels beyond eCommerce by opening physical stores in which customers can browse and buy its
Venture capital firm Venrex has chosen to host its new GBP1 million fundraising on Seedrs, the European crowdfunding platform that focuses solely on equity investments.
The aim of the Venrex VII fund [the fund] is to open up equity investment in early-stage businesses to more investors, effectively democratising the traditional venture capital business by making it possible for more investors to take part in the potential success of startups raising VC investment.
Venrex is a London-based, FCA-regulated, venture capital firm with a strong 12 year track record of early-stage investments in fast-growing businesses including: Just-Eat, Notonthehighstreet.com, Orlebar Brown, Lyst,
EPAM Systems has acquired NavigationArts, a digital strategy and experience design firm. The acquisition will enhance EPAM's ability to provide digital consulting, architecture and content solutions to customers in North America and beyond.
Headquartered in McLean, VA, NavigationArts combines business and customer experience consulting with a strong content management systems practice to lead digital initiatives for marquee clients including Ernst & Young, Marriot International, General Dynamics, Time Warner Cable and Mary Kay Inc. With locations in New York, Boston and Philadelphia, NavigationArts has a strong northeast regional presence.
"Experience platforms have become the backbone of our customers' multi-channel engagement
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