Wed, May 4, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n