Fri, Dec 15, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

UK FSA shifts to twin peaks model, seeks industry guidance on AIFMD

Wednesday, February 08, 2012

amb
Hector Sants
Bailey McCann, Opalesque New York:

In response to the global financial crisis and mounting political pressures to more aggressively regulate the financial services industry, the European Commission passed the Alternative Investment Fund Managers Directive (AIFMD) in July, 2011, more than two years after it was first proposed. Since then, member states have been working to implement the slate of regulations for the July 2013 deadline.

On Monday, the UK’s Financial Services Authority (FSA) published a discussion paper asking fund managers for comment on how best to implement the AIFMD by 23rd March, 2012.

The paper was the first in several significant moves this week toward a new era for the FSA.

Also on Monday, Hector Sants, Chief Executive of the FSA announced that the authority will transition to its "twin peaks" model on April 2, 2012 with full, official transition completed by 2013. According to the FSA, the twin peaks model replicates other financial authorities in the European Union (EU) which utilize both a regulator and a conduct group. The model is designed to be more proactive and rigorous than the existing FSA.

Sants asked firms in the speech to......................

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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c