Sun, Oct 4, 2015
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. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'

  2. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  3. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  4. Investing - U.S. biotech bloodbath hits hedge funds but some bargains emerge, Computer-driven hedge funds betting on further stock selloff[more]

    U.S. biotech bloodbath hits hedge funds but some bargains emerge From A seven-day selloff of U.S. biotechnology stocks has hit sector investors - especially hedge funds - hard. But some managers say it was overdone and are already eyeing bargains such as Gilead Sciences Inc

  5. Vilas’ equity long bias hedge fund generates market-beating results[more]

    Komfie Manalo, Opalesque Asia: The Vilas Fund, an equity long bias fund managed by Chicago, Illinois-based Vilas Capital Management, posted five-year annualized returns, net of fees, of 23.47% vs. 15.87% for the S&P 500 Index, including divid