New Cayman fund AML roles: The advantages of an independent depositary led solution

Changes to the Cayman Islands AML regime In response to Financial Action Task Force’s (“FATF”) recommendations to combat money laundering and terrorist financing, there have been significant changes to the anti-money laundering (“AML”) laws and practices in the Cayman Islands. The Anti-Money Laundering Regulations (2018 Revision) of the Cayman Islands (“AML Regulations”) have expanded the scope of the local AML […]

Alternative investment fund managers reassess their service provider relationships

This INDOS Financial article was first published by HFM Week and can be read here. The latter half of 2018 will be a period of relative contemplation for the fund management industry, having spent the last few years priming itself for compliance with MiFID II and GDPR, both of which have been labour and cost-intensive exercises. The volume of regulations […]

AIFMD marketing proposals threaten reverse solicitation

Four years have passed since AIFMD was introduced, yet inconsistencies in its application still exist across EU member states. Marketing is one area where consensus has been elusive, with different regulators adopting their own separate approaches, thereby sowing confusion among fund managers. Whereas the UK allows some ‘pre-marketing’ – including the sharing of draft fund documentation – to take place […]

Private equity funds: the benefits of an independent depositary

Private equity fundraising is riding high with unprecedented levels of institutional capital rushing into the asset class, frequently due to portfolio reallocations from other fund sub-sets like fixed income and hedge strategies. The investors are institutional and highly sophisticated. Institutions of this calibre expect their managers to adopt best practices around fund governance, a key element of which is the […]

Independent AIFMD depositary INDOS Financial looks back on 2017 for the AIMA Journal

This INDOS Financial article was first published in the latest edition of the AIMA Journal. The depositary model, introduced in 2014 for many funds under the EU’s Alternative Investment Fund Managers Directive (AIFMD), is now firmly enshrined within the industry. The appointment of a depositary was not initially met with support among the alternative investment fund manager (AIFM) community, but […]

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