December 2013 Issue
The investment funds industry still faces challenging times, with restricted financing, depressed returns, and investor discontent providing a backdrop to activity. New regulations and compliance requirements are taking a financial toll on funds, despite scepticism about their effectiveness in protecting investors and preventing another financial crisis. In recent months, the AIFMD and EMIR have added EU counterparts to the Dodd Frank Act and the impact of FACTA has been felt globally. Despite the difficulties, opportunities still present themselves in the market and deal activity continues to build. The emerging markets in particular have presented lucrative openings for investment. Fund managers, however, must adapt and adopt new strategies to make the most of opportunities in the current climate, and address their shifting relationship with investors.
FORUM: Funds regulation in the Americas
FW moderates a discussion on funds regulation in the Americas between Marina Procknor at Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados, Stephanie M. Monaco at Mayer Brown LLP, and Jonathan Fitzgibbons at Solomon Harris.
SEC aberrational performance inquiry using data-driven tools to uncover adviser misconduct
Davis Polk & Wardwell LLP Under a recently announced initiative, the US Securities and Exchange Commission has been using sophisticated, data-driven analytical tools to monitor performance claims by hedge fund managers and other investment advisers. This initiative, termed the ‘Aberrational Performance...
Preparing for criminal insider-trading charges
Goodwin Procter LLP Since 2009 the US Securities and Exchange Commission (SEC), the US Federal Bureau of Investigation (FBI) and the US Department of Justice (DOJ) have been taking action to combat what they perceive as a systemic threat to the health of the US capital markets: insider trading. While...
The development of UCITs funds
Reed Smith The UCITs Directive provides a harmonised platform and an EU passport for those funds meeting the stringent investment and borrowing powers set out in the UCITs Directive, which are designed to ensure adequate diversification of investment and risk management, so that they are...
EC proposes regulation on money market funds
LK Shields The European Commission published the Proposal for a Regulation of the European Parliament and of the Council on Money Market Funds (the ‘Proposed Regulation’) on 4 September 2013. The Proposed Regulation has come about as a result of increased...
Corporate governance: the art of war or the science of compliance?
Carey Group Building the right team is the key to success in many competitive activities, from a cricket team to an infantry platoon.Running an investment fund and addressing the management of its portfolio companies is no exception. The management team of a company and the...
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