Archives: Uncategorized

Subscribe to Uncategorized RSS Feed

SEC Office of Compliance Inspections and Examinations Releases 2016 Exam Priorities

The SEC Office of Compliance Inspections and Examinations (“OCIE” or the “Staff”) released its 2016 Exam Priorities recently, as applicable to examined registrants other than national securities exchanges.   Exam Priorities are always a reflection of current trends and news and, in recent years, also reflected the SEC’s expanded capabilities for monitoring market activity through data … Continue Reading

Brown v InnovatorOne: A useful CIS refresher

This post was written by Matthew Pitman and Abigail Jones. A recent case serves as a useful reminder that careful consideration should be given to what happens in practice when considering whether arrangements amount to a collective investment scheme, irrespective of the wording of the relevant contractual documentation. Although the case of Brown v InnovatorOne … Continue Reading

UAE Investment Funds Regulations Finalised: An end to tolerated practice?

The UAE Securities and Commodities Authority (SCA) published the long awaited Investment Funds Regulations at the end of July. These regulations contain a number of new provisions, including in relation to the establishment of domestic funds in the UAE.  However, of most interest to fund managers outside of the Emirates (including managers based in the … Continue Reading

Luxembourg SIFs and the AIFMD

Draft legislation was put to the Luxembourg Chamber of Deputies (Parliament) in August which proposes to amend the Law of 13th February 2007 on Specialised Investment Funds to implement UCITS IV and the AIFMD. Some of the material changes to the SIF regime: The requirement to translate fund articles from English into French will fall … Continue Reading

Jersey Security Interests

Institutional investors that have investment vehicles domiciled in Jersey may have come across the conundrum of taking security over shares owned by Jersey vehicles. In order to gain a valid security interest in Jersey over shares, the security holder needs to either (i) hold the physical share certificates (which would require uncertificated shares held by … Continue Reading

Top Tips for Directors – Weavering Macro Fixed Income Fund

In an interesting case from the Cayman Islands, the former directors of the Weavering Macro Fixed Income Fund have been ordered to pay $110 million in damages to the Fund (after its liquidation), on the basis that this represented loss suffered by the Fund as a result of the directors’ wilful neglect or default. The … Continue Reading