Hedgeline 14
WELCOME to HEDGELINE - a publication dedicated exclusively to hedge fund regulation, each month we will provide a summary of the major legal and regulatory developments in hedge fund regulation, both in Europe and key offshore jurisdictions. For those who want to read in more depth, we have also provided links to all relevant materials currently available.
In this month’s update:
- FSA gives hedge fund manager £52,500 fine and one-year ban for insider dealing
- Swiss financial taskforce approves new measures to attract hedge funds
- Alternative Investment Management Association (AIMA) welcomes HM Treasury’s tax proposals for offshore funds
FSA GIVES HEDGE FUND MANAGER £52,500 FINE AND ONE-YEAR BAN FOR INSIDER DEALING
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- Lengthy ban for hedge fund manager for failing to recognise inside information; sanctioned despite not profiting personally from insider dealing
- FSA warns managers entrusted with inside information not to misuse it
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The FSA has issued a £52,500 fine and one-year ban on trading against hedge fund manager, Steven Harrison, for insider dealing. More
SWISS FINANCIAL TASKFORCE APPROVES NEW MEASURES TO ATTRACT HEDGE FUNDS
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- Tax rules on hedge fund performance fees and carried interest to be clarified
- Authorisation process for managers of offshore funds to be made easier
- Swiss cantons target U.K. hedge fund managers
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A joint taskforce for the Swiss financial services industry has approved several new measures aimed at attracting more hedge fund managers to Switzerland. More
ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION (AIMA) WELCOMES HM TREASURY’S TAX PROPOSALS FOR OFFSHORE FUNDS
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- New proposals will help to simplify tax regime and provide greater certainty, according to AIMA
- New definition of offshore fund to be included in 2009 budget
- Draft regulations to be published by end of 2008; New regime in place by spring 2009
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The AIMA has given a lukewarm welcome to the Treasury’s proposals for a new offshore funds tax regime. More
ABOUT YOUR PUBLISHER, FSI:
FSI is a well known law firm with specialist expertise in relation to enquiries and investigations instigated by the FSA and overseas regulators, including AMF in France and the SEC in the US. Often working in conjunction with compliance specialists and other professional advisers, the team will attend interviews at the FSA, advise on all correspondence with the FSA and represent their clients before the Regulatory Decisions Committee and the Financial Services Markets Tribunal. For further information on how we might be able to help you, please contact head of team, Philip Rubens:
Philip Rubens is head of the financial services team at FSI. Having undertaken a secondment at the FSA, Philip is a leading expert in the regulatory enforcement field.
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2007
Hedgeline August
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Hedgeline October
Hedgeline November
Hedgeline December
2008
Hedgeline January
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Hedgeline August