Sat, Feb 13, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers June 2012

Servicers' Spot - BNY Mellon: Do not underestimate the extent of upcoming regulations

BNY Mellon: Do not underestimate the extent of upcoming regulations

Mark Mannion

Mark Mannion, head of relationship management for EMEA at BNY Mellon Alternative Investment Services, an awardwinning fund administrator, believes that fund managers should not underestimate the extent of upcoming regulations - especially in three very important areas.

First, Mannion told Opalesque in an interview, from the U.S. perspective, managers will have to register with the SEC. And "subject to certain thresholds and exemptions, they may need to file very extensive Form PFs on a quarterly basis."

Indeed, the new SEC rule requires investment advisers registered with the SEC who advise one or more private funds and have at least $150 million in private fund assets under management to file Form PF with the SEC - effective March 31, 2012.

As significant amounts of portfolio data have to be included in that Form, BNY Mellon can help fund managers through its completion to ensure they are compliant with the SEC's requirements.

The second area is FATCA. Foreign Account Tax Compliance Act (FATCA) is part of U.S. efforts to improve tax compliance involving foreign financial assets and offshore accounts.

"Funds now need to put themselves into a position where they will be ready to comply with the FATCA Act in 2014," Mannion explains. "At the point of launch, we ensure that the new hedge fund's application forms and documentation will work from a FATCA perspective, by collecting that information that you need in order to set-up each investor on the correct basis in the Transfer Agency S......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

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. Asia - Hedge fund manager Kyle Bass estimates China's foreign reserves below critical level[more]

    From Nasdaq.com: Investor Kyle Bass stepped up his attack on China's currency, arguing in an investor letter distributed Wednesday that the second-largest economy's foreign reserves are "already below a critical level." The comments mark the latest effort by hedge funds and other investors to raise

  2. Investing - Some hedge funds want to make subprime auto loans next big short, 11 hedge funds that are “all in” on the FANG stocks, Hedge funds short London luxury homes, Cynet raises $7 million from U.S. hedge fund[more]

    Some hedge funds want to make subprime auto loans next big short From Bloomberg.com: A group of hedge funds, convinced they have found the next Big Short, are looking to bet against bonds backed by subprime auto loans. Good luck finding a bank willing to do the trade. Money manage

  3. Investing - Hedge funds see selloff in European bank stocks as buying opportunity[more]

    From WSJ.com: The massive selloff in European bank stocks and bonds is overdone and presents a “phenomenal” buying opportunity, according to some of Europe’s top hedge-fund managers. Despite a 28% slump in European bank stocks this year, including a 38% fall in Deutsche Bank AG and a 34% drop in Soc

  4. Legal - Carlyle accused of fraud by ex-employee, Hedge funds win CDS breach of contract suit against Deutsche Bank, Hedge fund asks for OK on $27.5m Goldman CDO deal, SFO examines Barclays hedge fund profits[more]

    Carlyle accused of fraud by ex-employee From AI-CIO.com: A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments. Carlyle Group has been sued by a former portfolio manager for one of its hedge funds, who accused the firm of “knowi

  5. Illiquid assets are all the rage for hedge funds[more]

    From Valuewalk.com: …Institutional investors are increasingly turning to illiquid assets and active management strategies to combat macroeconomic trends, anticipated market volatility and diverging monetary policy, according to a new survey by Blackrock. And this week, Bloomberg has reported that at