By Sam Sturrock (pictured) & Paul Monahan – As frequent advisers on Jersey fund start ups, Collas Crill are often involved in preliminary structuring discussions with new fund managers and sponsors.
Legal & Regulation
By Chris Griffin (pictured) & Robert Milner – Recently, the unprecedented combination of Brexit and Covid-19 has generated a sharp rise in the number of fund managers contemplating a move to Jersey. In this article, Chris Griffin and Robert Milner, funds partners in the Jersey office of leading offshore firm Carey Olsen, explore the reasons behind the increase in interest.
By Joe Moynihan, CEO, Jersey Finance – Rafts of global regulatory initiatives are continuing to challenge traditional fund structuring models and make the fund domiciliation picture far more complex, with investor buy-in becoming absolutely vital.
Fidelity International, the fifth largest asset manager in the world, has outlined plans to “close the gaps” in its climate change initiatives, in its first ever Task Force on Climate-related Financial Disclosures (TCFD) annual report.
Calls for tighter regulation on the EUR1.4 trillion European money market funds sector have been called “misguided” by the industry, which disputes the claims that central bank intervention prevented a fund liquidity crisis in March.
Legendary ‘Mr China’ investor explains why global asset managers will struggle to crack Chinese market
China is seen as the jewel in the asset manager’s crown. Since restrictions on foreign ownership were relaxed for the funds industry in April, global firms including BlackRock, Fidelity International and Vanguard have applied to set up wholly-owned mutual fund units in China, hoping to tap the country’s fast-growing USD2.6 trillion retail fund market.
By Matthew Chapman (pictured), Director, ACA Compliance Group – Geopolitical change and uncertainty, regulatory sabre-rattling and industry shake-ups have combined to create a perfect storm for many financial services firms when it comes to their trade and transaction reporting obligations under MiFIR, EMIR and SFTR.
The new Financial Services Bill 2019-21, which is currently going through the House of Commons, clearly sets out the government’s preferences as to how the UCITS and PRIIPs regimes will progress post-Brexit, fund data company FE fundinfo says.
High set up costs could stymie the fortunes of emerging and start up managers before they even make their first step. Malta offers such organisations the opportunity to set up their business in a low-cost jurisdiction while taking advantage of the high touch service they would benefit from due to the size of the industry.
FINOS launches open regtech initiative as it receives record high number of open source contributions
At its annual, flagship Open Source Strategy Forum (OSSF) – held virtually in conjunction with the Linux Foundation – FINOS (the Fintech Open Source Foundation), has launched its Open RegTech initiative, which aims to expand the successful open collaboration model built between financial institutions, fintech and technology firms to regulators and regtech companies.