Sat, Oct 29, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Similarities in Form PF and ESMA guidance may signal emergence of global finance regulatory framework

Wednesday, December 21, 2011

Bailey McCann, Opalesque New York

In late October 2011, the SEC adopted Form PF, a form designed to provide systemic risk information to the new Financial Stability Oversight Council, formed through the Dodd-Frank bill. Just a few weeks later, in November, the European Securities and Markets Authority (ESMA) published its final report containing technical advice to the European Commission on the implementation of the Alternative Investment Fund Managers Directive (AIFMD), a directive designed to deal with many of the same systemic risk issues that led to Form PF in the States.

I spoke with Jennifer Wood, Partner at UK-based law firm Dechert, about how the similarities that may be the start of a global regulatory framework for financial industries.

"Officials have been given the order to coordinate globally to create these directives," Wood says. "The SEC did actually see a copy of the pre-published ESMA guidance which is why the similarities between the two forms are so striking - some of the questions are actually identical."

Wood notes that global governments and regulatory bodies recognize that finance is globally interconnected and there is a necessity to create more uniform treatment across borders. Indeed officials in both bodies undertook extensive reviews of the practices of regulators around the globe into account when crafting these documents.

However, that doesn't mean that there aren't still significant differences and details that rem......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  2. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  3. Other Voices: Don’t mistake style for skill — The impact of style factors on trend follower performance[more]

    By John Dolfin, CFA Chief Investment Officer and Christopher Maxey, CAIA, Senior Portfolio Manager of Steben & Company: Managed futures have become an alternative asset class that is widely used by investors seeking overall portfolio diversification and absolute returns independent of the

  4. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso

  5. Barclay CTA Index down 0.40% in September (+0.10% YTD)[more]

    Managed futures traders lost 0.40% in September according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.10% year to date. “The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman, founder and president of BarclayHe