Brexit – UK government clarifies the role of the depositary

In five months, the UK will not be a member of the European Union (EU), of which there are likely to be two potential conclusions. The first Brexit scenario – assuming a Withdrawal Agreement is clinched over the coming weeks by negotiators on both sides – will provide a transitional arrangement for UK financial institutions lasting until the end of […]

ESG Investment: Enhancing transparency and trust

A decade ago, most asset managers would not have contemplated screening their investments to ensure they were in line with ESG (environment, social, governance) principles, mainly because it was not a priority for the majority of their underlying institutional or retail clients. It was also assumed that ESG investing came at a cost, as it limited the universe of securities […]

The impact and evolution of AIFMD – 5 years on

It has been five years now since the original introduction of the Alternative Investment Fund Managers Directive (AIFMD), a post-financial crisis regulation designed to enhance investor protection and risk management at asset managers managing or marketing alternative investment funds inside the EU. The Directive’s provisions included a pan-European marketing passport for EU managers of EU funds, additional investor disclosures, rules […]

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 […]