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Alternative Market Briefing

Other Voices: Ogier: New regulations will require multi-domiciled managers

Wednesday, July 15, 2009

Offshore legal and fiduciary services firm Ogier says a likely consequence of the plethora of tax regulatory initiatives currently being developed by the G-20, OECD, US, EU and UK, will be that investment managers will need to establish additional management and administration operations in the jurisdictions of their investors and/or move offshore.

The 2nd Annual Ogier Global Investment Funds seminar series entitled “The Evolution of Offshore Investment Funds” was led by partners Peter Cockhill, James Bergstrom, Colin MacKay and Simon Schilder and delivered this spring to over 300 hedge fund professionals in Boston, Cayman, Chicago, San Francisco and New York. Themed around the 150th anniversary of Darwin’s Origin of Species, the seminars looked at the past, present and future of offshore investment funds, including:

• proposed structuring and language clarifications; • the current litigious climate and the issues surrounding claims against funds and their service providers; and • the various international regulatory initiatives at play, with an analytical focus on some possible outcomes.

“Hedge fund managers naturally seek international as well as national investors. To continue to do so in today’s evolving regulatory environment, managers are likely to need to establish operations in the EU for EU domiciled investors, in the US for US investors and offshore for international investors,” said Ogier partner Peter Cockhill.

Citing the vari......................

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