Solutions
Guernsey is marking the the 20th anniversary of the introduction of its Protected Cell Company (PCC) Ordinance on 1 February 1997, providing the island’s captive insurance sector with the first cell company legislation of its kind anywhere in the world.
The subsequent success of this innovation is illustrated by the fact it is now used across the financial services world as an alternative application for the structuring of many different types of products.
Aon’s White Rock Insurance Company PCC Limited, which was established in Guernsey in 1997 as the first PCC in the world, has now been used by
Euronext is to roll out a series of initiatives dedicated to family businesses to promote listings and increase their visibility among investors.
There are currently over 14 million European family businesses, amounting to 60 per cent of the total number of companies in Europe. Family businesses account for 66 per cent of companies worldwide, generating over 70 per cent of global GDP annually.
Today, 201 family businesses are listed on Euronext markets, representing a total market capitalisation of EUR745 billion. This includes 158 SMEs with a total market capitalisation of EUR43 billion.
Following interviews with key sector players
ACA Compliance Group has appointed Chad Neale as a managing director with ACA Aponix, its cybersecurity and risk division.
Neale comes to ACA from PricewaterhouseCoopers (PwC) where he was the director of cybersecurity and privacy/information security architect. In his role at PwC, Neale provided cyber assessment services to clients in various industries including financial services, healthcare, technology, energy, and entertainment.
Prior to PwC, Neale served as vice president, information security officer for First Allied Securities.
At ACA, Neale will oversee and enhance the portfolio company review and diligence offering, which provides private equity and venture capital firms with
The Gibraltar Stock Exchange (GSX) has launched a self-regulated Multilateral Trading Facility (MTF), the GSX Global Market (GM), for debt securities and funds, which will operate under GSX’s MiFID licence.
The Gibraltar Financial Services Commission has granted GSX permission to operate an MTF so allowing GSX to further enhance its service offering. The self-regulated market offers issuers greater flexibility and choice as well as increased speed to market.
The opening of GM means the Gibraltar Stock Exchange is currently able to offer issuers: GSX Main Market – an EU regulated market for funds and debt securities offering a
Veritable and Moelis Asset Management have teamed up to launch Archean Capital Partners, which will provide new private equity portfolio managers with the initial capital, advice and infrastructure necessary to launch their own funds.
Veritable is a wealth management firm with over USD13 billion of assets under management.
Moelis AM is the parent company for alternative asset management firms with an aggregate of over USD3billion in assets under management.
Through Archean Capital Partners, Veritable and Moelis AM will seek capital commitments for a series of single manager, special purpose vehicles (SPVs) that will invest in selected newly launched
The International Valuation Standards Council (IVSC) has launched IVS 2017, which will serve as the key guidance for valuation professionals globally.
The guidance aims to underpin consistency, transparency and confidence in valuations, which are key to investment decisions as well as financial reporting.
The launch is the latest step in IVSC’s mission to raise standards of international valuation practice as a core part of the financial system, for the benefit of capital markets and the public interest.
The standards have been created following an extensive consultation process from April to October 2016. More than 100 official comment letters
Fraud, cyber and security incidents are now the “new normal” for financial services companies across the world, according to the executives surveyed in the 2016/17 Kroll Annual Global Fraud and Risk Report.
Nearly nine in 10 (89 per cent) executives in the sector reported that their company fell victim to fraud in the past year, highlighting the serious threat to corporate reputation and regulatory compliance.
Theft of physical assets is the most prevalent kind of fraud suffered in the sector, reported by 39 per cent of respondents. This is followed by vendor, supplier or procurement fraud (32 per cent).
From January 2017 two representatives of foreign collective investment schemes – Acolin Fund Services (Zurich) and Hugo Fund Services (Geneva) – will cooperate more closely in advising asset managers on cross-border fund distribution.
While Hugo Fund Services has focused on alternative investment providers since it was founded in 2014, Acolin Fund Services gives particular support to mutual fund providers, in addition to its work in fund registration and representation, including sales support.
Since it is increasingly difficult to access investors in the context of cross-border distribution of investment funds due to increasing regulation (MiFID II and FIDLEG), the two
Guernsey's funds sector stands to benefit from pressure on legal fees from fund managers and investors because of lower overheads and costs in the jurisdiction, says Ogier group partner Craig Cordle.
Cordle (pictured), who joined the Guernsey investment funds team at the end of last year, says that because costs in Guernsey tend to be lower than those charged by London firms, the island could get a boost from a current price squeeze trend from managers and underlying investors.
Figures from the Guernsey Financial Services Commission show that the 12 months leading up to June 2016 saw a 12.3
PraxisIFM Fund Services (UK) has worked with RM Capital Markets on the initial public offering (IPO) of RM Secured Direct Lending on the premium segment of the London Stock Exchange.
Gross proceeds of GBP50.3 million were raised following the issue.
The investment objective of RM Secured Direct Lending is to invest in a portfolio of secured debt instruments to UK SMEs and mid-market corporates. The company will target an annualised dividend yield of 6.5 per cent once fully invested.
“We are delighted that RM has chosen to utilise our services as company secretary and administrator,” says Anthony Lee,
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
