EU Legislative Process

There has, of course, been an abundance of articles on the AIFM Directive recently. The quality of reporting is variable, with some headlines suggesting that it’s all over (see the last Regulatory Roundup for an accurate assessment of the situation). It would therefore be worth providing a brief explanation of [...]

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US and Investment Advisors

There have been further developments in respect of the proposed Private Fund Investment Advisers Registration Act 2010 (see Regulatory Roundup 18 January and previous). Senator Christopher Dodd’s financial reform proposals passed the Senate Committee on Banking on 23 March with a 13-10 vote, without a single Republican voting for it. [...]

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US Regulatory Developments

As you will be aware, AIMA has recently reiterated its support for the proposed registration of hedge fund managers in the US in the interests of financial stability. The move comes as the Private Fund Investment Advisers Registration Act of 2009 won support from the House Financial Services Committee. In [...]

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UK rules OK

A survey by the World Economic Forum shows that the UK is now the top financial centre out of 55 of the world’s largest financially-focussed countries. The previous holder was the US but has now slipped to third place behind Australia. The rankings are based upon more than 120 different [...]

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Global Economy

Some cheering news from the IMF. Its latest World Economic Outlook reports that global economic growth has turned positive, although recovery will be slow. Latest IMF projections show that world output is forecast to expand by around 3% in 2010. The table in the attached link shows that China and [...]

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Turner Review

Back in March the FSA published The Turner Review and ‘A regulatory response to the global banking crisis’ (DP09/2). They arose from a request from the Chancellor of the Exchequer made in October 2008 to review the causes of the then current financial crisis. Both documents, totalling 340+ pages between [...]

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IMF and Jersey

The IMF has rated standards of regulation and supervision in Jersey above UK. The IMF’s Financial System Stability Assessment update places Jersey in the ‘top division’ of international financial centres and that it complies with 44 of the financial crime rules, whereas the UK complies with just 36. However, You [...]

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