Stories that are tagged 'investment funds'

	South Africa Consults On Retirement Savings Incentives 5/15/2012 Following the Minister of Finance Pravin Gordhan’s announcement in his 2012 Budget in February that the South African government is looking to provide incentives for savings and the reform of the retirement industry, the National Treasury has now published an overview consultation paper.
	Hong Kong Concerned At Operation Of US Volcker Rule 5/14/2012 Following is a question in the Legislative Council, the Secretary for Financial Services and the Treasury, Professor K C Chan, confirmed that Hong Kong shares the concerns raised by other financial markets, such as Canada, France, Germany, Japan and the United Kingdom, over the extra-territorial reach and the implementation of the United States’ Volcker Rule restrictions.
	Regulatory Change To Drive Onshore Fund Growth 5/9/2012 French hedge funds and the securities regulator AMF believe the Alternative Investment Fund Managers Directive will - more than UCITS - boost investor confidence in hedge funds and pave the way for potentially significant asset growth.
	UK, EU Talk 'Shadow Banking' Regulation 5/1/2012 At a conference on ‘shadow banking’ in Brussels, both Michel Barnier, European Commissioner for Internal Market and Services, and Paul Tucker, the Bank of England’s Deputy Governor for Financial Stability, have outlined their views on policies for its better regulation.
	Guernsey Fund Lists On LSE 4/24/2012 A Guernsey closed-ended investment company has been used by Blue Crest Capital Management in its Initial Public Offering of a fund on the London Stock Exchange Main Market, advised upon by Channel Islands law firm Carey Olsen.
	South Africa Consults On Long-Term Insurers' CGT 4/18/2012 With regard to the proposals announced in the South African 2012/13 Budget in February this year, the National Treasury has released for public comment details on how increased capital gains tax rates will be applied to long-term insurers.
	Details Provided Of Taiwan's Proposed CGT 4/17/2012 Taiwan's Finance Minister Christina Liu has announced the structure of the new capital gains tax that the government will impose on profits made from trading in shares, bonds and derivative products, such as futures and options.
	Guernsey Fund Of Hedge Funds Receives European Accolade 4/11/2012 Guernsey-headquartered Legis Fund Services has been recognised as 'Best Administrator - under USD30bn Fund of Hedge Funds' at the HFMWeek European Services Provider Awards.
	UK Due To Introduce Tax-Transparent Pooled Fund Structure 4/10/2012 Northern Trust has confirmed that it will offer the incoming UK tax-transparent pooled funds structure, when regulations permitting the vehicle become effective in the UK in late summer 2012.
	US Approves Final Rule On Shadow Banking 4/6/2012 The United States Financial Stability Oversight Council has issued its final rule and interpretive guidance on the Federal Reserve Bank’s authority to require supervision and regulation of nonbank financial companies.
	Guernsey, Switzerland Discuss Financial Synergies 4/3/2012 Guernsey recently hosted a Swiss government delegation during a two-day visit to the island, which reinforced the importance of links between Guernsey and Switzerland, particularly in financial services.
	State Street Granted Jersey Banking License 3/30/2012 The Jersey Financial Services Commission has granted State Street Corporation, one of the world's leading provides of financial services to institutional investors, a license to expand its offerings to include Jersey-based banking.
	Australian Financial Advice Bill Passed 3/29/2012 Australia’s House of Representatives has passed the government’s Future of Financial Advice reforms, designed to deliver a growth strategy for the industry.
	SEC Enhances Cooperation With EU, Cayman Islands 3/27/2012 The United States Securities and Exchange Commission has announced that it has established two memoranda of understanding with the Cayman Islands Monetary Authority and the European Securities and Markets Authority, as part of its long-term strategy to improve the oversight of regulated entities that operate across national borders.
	Hong Kong Broadens Investor Base With 'Kangaroo' Bond 3/27/2012 The Hong Kong Mortgage Corporation Limited has hosted the signing ceremony for its successful launch of an inaugural public issue in Hong Kong of an Australian dollar “Kangaroo” bond.
	Australia Delays Financial Advice Reforms 3/26/2012 The Australian government has announced that its Future of Financial Advice reforms will not become mandatory until July, 2013, stressing that this will benefit the wealth management industry.
	IoM Consults On Fund Laws 3/12/2012 The Isle of Man government has launched a consultation on draft legislation to update the regulation of 'Recognized' Collective Investment Schemes.
	Australia Consults On Investment Manager Reform 3/13/2012 The Australian government has released draft legislation implementing the first stage of its new Investment Manager Regime.
	Guernsey Fund Sector Growth Tails Off 3/7/2012 New figures from the Guernsey Financial Services Commission shows that the island's fund sector contracted by 3.7% during the final quarter of 2011, with GBP10.2bn being shaved off the island's net asset value of funds under management and administration.
	Carey Olsen Top Offshore Adviser For FTSE100 3/5/2012 Channel Islands law firm Carey Olsen has announced that it was the only offshore law firm to be ranked in the top 10 alongside UK and International law firms for the total number of stock market clients in the Q1 2012 All Market Edition of The Morningstar Professional Services Ranking Guide.
	Mixed Fortunes For Cayman Finance Industry 3/1/2012 The Cayman Islands' Economics and Statistics Office has reported that the island's economy began to recover from the economic downturn during the first nine months of 2011, with growth of 1.2% year-on-year recorded, compared to a contraction of 5.8% in the same period a year earlier. However, the financial services sector continues to see mixed results.
	Shanghai Launches RMB Investment Fund 2/22/2012 The Shanghai government-owned Shanghai International Group has led a group of official and private investors to establish a substantial renminbi-denominated fund that targets the financing of Chinese corporate investment overseas.
	SEC Tightens Rules on Investment Advisers' Performance Fees 2/21/2012 The United States Securities and Exchange Commission has announced a tightening of its rules on investment advisory performance fees, raising the net worth requirement for investors who pay them.
	Guernsey Reviews Collective Investment Scheme Rules 2/15/2012 The Guernsey Financial Services Commission has published a consultation document on new rules to be placed on 'Class B' Collective Investment Schemes.
	Guernsey Firms Scoop Offshore Business Awards 2/14/2012 A number of Guernsey-based law and wealth management firms were among the winners at the recent Citywealth Offshore Awards in London.
	Ireland Publishes 2012 Finance Bill 2/13/2012 The Irish Finance Bill 2012, introduced on February 8, 2012, proposes extensive changes to the nation's tax regime, including a hike in the headline value-added tax rate to 23%, and targeted tax amendments to improve the competitiveness of the country's financial services industry.
	Financial Sector Concerns Persist Despite US FATCA Relaxations 2/13/2012 Despite an attempt to reduce the administrative burden imposed on them within the newly-announced draft regulations for implementing the United States Foreign Account Tax Compliance Act, foreign financial institutions remain concerned at the costs they will still have to bear, and at the uncertainties that still remain.
	US To Cooperate With EU Countries On FATCA 2/10/2012 The United States Treasury Department and the Internal Revenue Service have issued proposed regulations for the next major phase of implementing the Foreign Account Tax Compliance Act, which also includes a joint statement with France, Germany, Italy, Spain and the United Kingdom on a possible government-to-government framework for information exchange.
	Jersey Mulls Fees Hike On Fund Sector 2/8/2012 Jersey's Financial Services Commission has launched a consultation on proposals to increase the fees paid by Collective Investment Funds and Fund Services Businesses.
	Mourant Ozannes Opens Hong Kong Office 2/3/2012 Leading offshore law firm, Mourant Ozannes, has opened an office in Hong Kong to provide clients and intermediaries with access to the firm's offshore legal services in an Asian time zone.
	ESMA Outlines New ETF Regulatory Framework 2/3/2012 The European Securities and Markets Authority has published a consultation paper setting out future guidelines on the use by UCITS of exchange-traded funds and other UCITS-related issues.
	China Pushes Shanghai As International Financial Centre 2/2/2012 China’s National Development and Reform Commission and the Shanghai Municipal Government have disclosed that it is intended that Shanghai will be a centre for onshore renminbi trading, clearing and pricing by 2015, before it becomes an international financial centre by 2020.
	Better Capital Funds Employ Unique Guernsey Structure 1/31/2012 Carey Olsen and Heritage International Fund Managers Limited have acted for Better Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock Exchange, on its innovative conversion into a uniquely-structured protected cell company.
	US Treasury Aims To Lower FATCA Burdens 1/30/2012 During her remarks at the New York State Bar Association Annual Meeting, Acting Assistant Secretary for Tax Policy, Emily McMahon, indicated that regulations for the implementation of the provisions of the Foreign Account Tax Compliance Act are in the final stages of clearance at the United States Treasury and the Internal Revenue Service.
	Guernsey Remains Leader In Non-UK Listings 1/27/2012 Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market authority.
	Hong Kong Plugs Its Private Equity Advantages 1/20/2012 In a speech at the Asia Private Equity Forum 2012 in Hong Kong, the Financial Secretary, John C. Tsang, confirmed that private equity is an important component of Hong Kong's asset management business, as Asia has become a magnet for venture capital investment, largely on the back of developments in mainland China.
	Jersey Attracts Nordic Investment Fund 1/17/2012 Leading offshore law firm Mourant Ozannes has advised on the establishment of a new private equity fund focusing on Nordic business investments, which is managed by a Jersey general partner.
	Hong Kong Issues Advice On RMB Investment Products 1/17/2012 Hong Kong’s Securities and Futures Commission has published a list of frequently asked questions on its website to help investors understand the key features and risks specific to a new class of investment products which directly invest in mainland China’s bond and equity markets.
	Ogier First Offshore Law Firm In Luxembourg 1/13/2012 Ogier, a leading provider of international legal and fiduciary services, has announced plans to target new clients in Luxembourg with the establishment of legal and fiduciary businesses in the territory.
	UK Financial Sector Growth Increases 1/11/2012 Growth continues apace in the UK financial services industry but continued wider economic issues are a cause for concern, according to a new survey.
	Malta Strengthens Regulatory Ties With Slovakia 12/23/2011 The Malta Financial Services Authority has signed a cooperation agreement with the National Bank of Slovakia.
	Jersey Structure Employed In Polymetal's LSE Listing 12/23/2011 Channel Islands law firm Carey Olsen has advised Polymetal International, the largest silver and fourth-largest gold extraction company in Russia, and one of the top five primary silver extraction companies worldwide, on the Jersey aspects of its listing on the main market of the London Stock Exchange.
	Australia Proceeds With Fund Manager Tax Reforms 12/21/2011 The Australian government has announced plans to implement the third and final element of an investment management regime, which, according to Minister for Financial Services Bill Shorten, will provide certainty of tax treatment for the funds management sector.
	Guernsey Firm Wins European Funds Award 12/19/2011 Guernsey-based private equity fund services firm Ipes has been named the European Specialist Administrator of the Year at the Funds Europe 2011 Awards in London.
	Guernsey Promotes Finance Centre In India 12/15/2011 Guernsey businesses and a delegation from the Guernsey government recently met with practitioners from India’s financial services industry and promoted the island at a number of events, including the Asia Venture Capital Journal conference, where attendees were told of Guernsey’s strength as a leading domicile of choice for private equity funds.
	Jersey Reports Healthy Finance Industry 12/14/2011 Jersey has welcomed the 'stable overall growth' achieved in the third quarter for the island's financial services industry, with the value of funds under administration in the jurisdiction growing to reach its highest level since June 2009.
	Jersey Litigation Fund Breaks New Ground 12/5/2011 Offshore law firm Carey Olsen has broken new ground with the first ever listing of a litigation fund on the Channel Islands Stock Exchange after it advised Argentum Capital Limited on the Jersey legal aspects of its multimillion-pound listing.
	Investment Managers Warn Of 'Misplaced' Financial Regulations 11/29/2011 In a speech to The Lawyer’s recent Funds Summit, Richard Saunders, Chief Executive of the UK Investment Management Association, focused on the high volume of financial regulations now being introduced, particularly at European level, many of which are the result of a 'misplaced analysis' of the financial crisis.
	Trusts To Benefit From Australian Tax Reforms 11/28/2011 Australia's Assistant Treasurer Bill Shorten has recently announced that a new consultation paper concerning the modernization of trust taxation will give trustees and beneficiaries of over 660,000 trusts the opportunity to have a better say in their own financial future.
	IoM Touts Its Competitive Advantage To London Funds Industry 11/24/2011 The Isle of Man's Chief Minister, Allan Bell has underlined the strength and diversity of the Isle of Man's economy in a keynote address to forum attendees in the City of London.
	Malta Consults On New ICC Structures 11/22/2011 The Malta Financial Services Authority has published a consultation document on draft Regulations that would govern the proposed introduction of Recognised Incorporated Cell Companies as an alternative to the Société d'Investissement À Capital Variable incorporated cell company form.
	Canada Approves Use Of BSX Securities In Retirement Savings Plans 11/17/2011 The Bermuda Stock Exchange has announced that the Minister of Finance for Canada has approved the addition of the exchange to the list of designated exchanges under Canada's Income Tax Act.
	Guernsey Selected To Facilitate USD6.3bn Leveraged Buyout 11/17/2011 A number of Guernsey investment vehicles were employed in the structuring of the major, USD6.3bn acquisition of Kinetic Concepts Inc by a consortium of investment funds.
	IRS Clarifies Foreign Government Tax Exemptions 11/7/2011 The Internal Revenue Service has released a notice of proposed rulemaking that is intended to provide guidance as to when the income of foreign governments and international organizations from investments in the United States will be deemed to be exempt from taxation under section 892 of the Internal Revenue Code.
	Philippines Issues Retirement Account Tax Regulations 11/4/2011 The new revenue regulations to implement the tax provisions of the Personal Equity and Retirement Account Act have been issued by the Philippines Bureau of Internal Revenue.
	FSB Tackles Shadow Banking Regulations 11/2/2011 The Financial Stability Board has published a report providing its recommendations on strengthening oversight and regulation of the shadow banking system, as was requested by the G20 Leaders at their November 2010 Summit in Seoul.
	SEC Finalises Hedge Fund Reporting Rules 11/1/2011 The Securities and Exchange Commission has adopted new rules requiring certain advisers to hedge funds and other private funds to report information for use by the Financial Stability Oversight Council in monitoring risks to the United States financial system.
	Bedell Expands With BVI, Singapore Offices 10/31/2011 International financial services provider Bedell Trust has announced plans to open new offices in Singapore and the British Virgin Islands.
	Hong Kong's Fund Managers Told Of New Opportunities 11/1/2011 A speech by Hong Kong’s Financial Secretary, John C Tsang, at the Annual Conference of the Hong Kong Investment Funds Association, looked at how Hong Kong's asset management industry can steer a path towards new opportunities during the period of China’s 12th Five-Year Plan.
	Mourant Ozannes Rated Top Channel Islands Law Firm 10/27/2011 Mourant Ozannes has noted its placement in the latest International Financial Law Review 1000 rankings, which it said consolidates its position as the leading law firm in the Channel Islands. Mourant Ozannes was the only law firm to gain four out of four top tier rankings in both territories.
	Hong Kong Checks On Chinese Support Measures 10/26/2011 Concluding a trip to Beijing, Hong Kong’s Financial Secretary John Tsang has confirmed that he had held “solid discussions” with relevant bodies in Mainland China to follow up on the policies and measures Vice Premier Li Keqiang set out, in August this year, to support Hong Kong’s development.
	Luxembourg Gives Boost To Financial Centre In Asia 10/20/2011 Determined to reinforce the Luxembourg financial centre in markets experiencing strong economic growth, Luxembourg’s Finance Minister Luc Frieden is currently on a visit to Asia to promote the financial centre.
	Guernsey, Luxembourg Explore Fund Sector Synergies 10/12/2011 A team from Guernsey’s fund industry hosted an event in Luxembourg last month aimed at boosting cooperation between the two jurisdictions, discussing ways in which service providers in the two centres can work together more effectively for mutual benefit.
	Guernsey Tops Europe In Specialist Finance Centre Index 10/4/2011 Guernsey has been rated highly in the latest index of specialist finance centres, as published by trade title The Banker, securing second position globally and the top spot in Europe.
	Jersey Rated As Top IOFC 9/29/2011 Jersey has retained its position as the highest rated offshore international finance centre in the latest Global Financial Centres Index published on September 26, 2011.
	Merger Creates Guernsey Fund Administration Powerhouse 9/26/2011 Two Guernsey firms have announced that they are to merge to create the largest independent fund administration business in the island.
	First Incorporated Limited Partnership Formed In Jersey 9/9/2011 Ogier Jersey has acted as advisor in relation to the establishment of the first incorporated limited partnership in Jersey, Invescap (Villette) ILP, which invests in UK commercial real estate.
	Jersey Reports Fund Industry Growth 9/7/2011 Jersey’s finance industry showed stable growth in the second quarter of 2011, with the value of funds administered in the island reaching its highest level for two years and the value of funds under management increasing by 4.2%.
	Jersey To Widen Fund Prospectus Rules 8/19/2011 The Jersey Financial Services Commission has published feedback on two consultations, on Certified Fund Prospectuses, and on Codes of Practice for Certified Funds, both issued in 2009.
	Vietnamese Parliament Passes Tax Incentives 8/11/2011 At its closing session on August 6, Vietnam’s parliament passed several resolutions giving tax incentives, particularly to small and medium-sized enterprises and individuals on lower incomes.
	New Zealand Savings Scheme Will Not Be Taxed Under Opposition’s Proposals 8/9/2011 New Zealand KiwiSaver funds will not incur capital gains tax on their share investments under the Opposition Labour Party’s policy proposals unveiled last month, the Party has confirmed.
	Vistra Acquires Herald Fund Services 8/5/2011 The Jersey arm of Vistra Group, a leading independent provider of trust, fiduciary, corporate and fund services, has announced the acquisition of Herald Fund Services limited. Existing clients and Herald's fund administration have been transferred to Vistra Jersey.
	Tax Proposal Lowers South African Fund Inflows 8/2/2011 The anticipated change in the tax treatment of dividend income funds, included in the 2011 Draft Taxation Laws Amendment Bills issued early last month, contributed to reduced inflows for the South African unit trust industry in the second quarter of this year.
	BMA Publishes 2010 Annual Report 7/29/2011 Bermuda's regulatory authority has released figures on the fund, insurance and banking sectors for the 2010 year.
	Jersey Ready For AIFMD 7/29/2011 An expert panel of leading practitioners and regulators from Europe, the UK and Jersey has said that Jersey's strategy for engaging with the Alternative Investment Fund Managers Directive is proving effective, and the island is on track to take advantage of the potential opportunities.
	Hong Kong Continues To Grow Its Fund Management Business 7/22/2011 The Securities and Futures Commission, in its annual survey of fund management activities, confirmed that such business in Hong Kong reached over HKD10 trillion last year, up 18.6% compared to 2009.
	EC Seeks Closure Of Savings Tax Loopholes 7/19/2011 The European Commission has asked the Council for authorization to begin negotiating changes to agreements signed in 2004 by Switzerland, Liechtenstein, Monaco, Andorra and San Marino on the taxation of savings income received by European Union residents under the Savings Tax Directive.
	US Issues Plans To Phase In FATCA 7/18/2011 The United States Treasury Department and the Internal Revenue Service have issued a notice announcing plans to phase in the requirements of the Foreign Account Tax Compliance Act.
	Bermuda Issues Q1 Financial Services Data 7/15/2011 The Bermuda Monetary Authority has released its latest regulatory update, containing figures for the first quarter of 2011, and providing year-on-year statistics in respect of the island's financial services industry.
	HKEx Consults On Clearing House Risk Management 7/14/2011 Hong Kong Exchanges and Clearing has published a consultation paper seeking views on reforming the risk management framework of the clearing houses operating in Hong Kong.
	Cayman Islands Economy To Grow In 2011 7/12/2011 In spite of a fall in GDP last year, the Cayman Islands economy is expected to return to growth this year, according to Premier and Finance Minister McKeeva Bush.
	Liechtenstein Adopts New Fund Law 7/5/2011 Liechtenstein’s parliament has recently adopted the Principality's new fund law, designed to strengthen the country’s financial centre.
	Guernsey-Based IAG Launches RMB Fund 6/28/2011 Guernsey-headquartered International Administration Group has announced that it is to offer fund administration services in China, providing further evidence that the jurisdiction's Far Eastern promotional drive is paying off.
	Hong Kong Corners Offshore RMB Market 6/27/2011 Following a question in the Legislative Council, the Secretary for Financial Services and the Treasury, Professor K C Chan, emphasized how the government has been promoting the development of offshore renminbi business in Hong Kong.
	Portugal Expands Tax Treaty Remit 6/24/2011 Portugal is to add to its collection of tax treaties still further, with the announcement that negotiations have been concluded with two key countries, and that a new tax information exchange agreement has been signed.
	Estonia Must Amend Investment Fund Tax Rules 6/20/2011 The European Commission has requested that Estonia amend its discriminatory tax rules pertaining to non-resident investment funds.
	Guernsey-Based Infrastructure Fund Launched 6/17/2011 Alternative investment boutique Future Capital Partners is to launch a Guernsey-domiciled income fund aiming to pay 7% from a portfolio of government-backed infrastructure projects.
	US Supreme Court Limits Securities Fraud Suits 6/16/2011 The United States Supreme Court has decided that Securities and Exchange Commission rules do not allow action to be taken against service providers, such as investment advisers, for false or misleading statements which are alleged to have been made by others.
	Australia Preparing For Fund Reporting Changes 6/10/2011 Assistant Treasurer Bill Shorten has announced changes that will facilitate financial services providers in transitioning to the new Product Disclosure Statement regime from June 2012. The regime affects providers of superannuation funds and simple managed investment schemes.
	Ireland Welcomes Islamic Finance 6/7/2011 Ireland is looking to expand into Islamic finance, according to Prime Minister Enda Kenny, who argues that recent legislative changes are paving the way.
	Australia Clarifies Trust Taxation 6/7/2011 Australia's Assistant Treasurer, Bill Shorten on June 2 introduced legislation that will ensure that capital gains and franked distributions can continue to be 'streamed' through trusts.
	Cayman Funds Begin Bounce-Back 6/3/2011 Newly released figures show that, while some of the negative effects of the global financial crisis continued to impact on the Cayman Islands' regulated fund industry in 2009, the year saw an upsurge in positive returns, and a substantial increase in net income.
	UK's Fund Tax Regime Makes It Key Domicile 5/31/2011 The UK is open for business as a domicile for both funds and management companies, the Investment Management Association has declared, stressing that the country's fund tax regime places it high on the list of attractive domiciles.
	Guernsey Funds Industry Continues Expansion 5/30/2011 Statistics published on May 26 show that the value of investment fund business in Guernsey grew by GBP6.2bn (2.4%) during the first quarter of 2011.
	SFC Hong Kong Consults On Short Position Reporting 5/30/2011 Hong Kong’s Securities and Futures Commission has launched a consultation inviting the public to comment on the draft legislation that will give effect to the proposed short position reporting regime.
	EU Rejects French 'Discriminatory' Pension Taxation 5/24/2011 The European Commission has decided to refer France to the European Union’s Court of Justice for discriminatory taxation of foreign pension and investment funds, which it considers to be in breach of European Union rules on free movement of capital.
	Irish Pension Levy Could Backfire, Warns IBEC 5/23/2011 Ireland's plan to impose a private sector pensions levy adds to the existing woes of pension schemes, and would have significant unintended consequences, according to IBEC, the Irish business group.
	New Zealand International Tax Bill Reported Back 5/17/2011 The New Zealand government’s Finance and Expenditure Committee has reported to Parliament on the Taxation (International Investment and Remedial Matters) Bill introduced in October last year.
	Chan Extols Hong Kong's Hedge Fund Regulation 5/16/2011 In the Legislative Council, the Secretary for Financial Services and the Treasury, Professor K C Chan, has been able to reassure a questioner that Hong Kong’s regulatory regime for hedge funds, private equity funds and other alternative investments more than conforms to international standards.
	New Zealand Looking To Become International Financial Centre 5/10/2011 The New Zealand government has considered recommendations on how to enhance the country as an international financial services centre, and these are outlined in a report by the International Funds Services Development Group.

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