Thu, Apr 24, 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

Banner
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. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  4. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  5. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac