Wed, Sep 17, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Despite shutdown, regulations and tax changes roll on in the US and EU

Friday, October 04, 2013

Bailey McCann, Opalesque New York:

Hedge fund managers, advisors, and attorneys will have a busy fourth quarter but not as much of that work will go into trading as you might think. New regulations and proposed tax changes going into effect on January 1, 2014 had the experts talking at this year's Alternative Assets Summit in Las Vegas, Nevada. Changes in both the US and EU are hitting different parts of the hedge fund business - a boon for lawyers, and almost no one else.

In July, when the Alternative Investment Fund Managers Directive (AIFMD) came into force in the EU, it effectively spelled the end of private placements on the continent. Instead, EU regulators intend to move investment firms into the UCITS structure. These shifts are posing a bit of a learning curve for non-european firms that wish to market funds to europeans. LoPresti Law Group, Lemanik Asset Management, Ober & Beerens and Rothstein Kass announced at the summit that they have formed a working group that with reach between both the US and EU to help investment firms understand new compliance requirements under AIFMD and UCITS.

Rothstein Kass recently opened an office in Ireland to work with firms on new EU requirements. The two law firms included in the group - LoPresti which is based in New York and Ober & Beerens which is based in Luxembourg will work together on legal work for clients between both continents.

Even though the law has been in force since July, new guidance is s......................

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. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc