a. HMT responds to consultation on transposing AIFMD On 17 May 2013, HM Treasury (HMT) published a response to its March 2013 consultation on transposing the AIFMD. The response includes the following key points: Regulations are being amended to permit investment by EEA charities. The approved persons regime will not apply to internally managed investment […]

The International Organization of Securities Commissions (IOSCO) has published a final report on the valuation of collective investment schemes (CIS). The report contains a set of principles, which are aimed at guiding regulators and industry practitioners in assessing the quality of regulation and industry practice, ensuring that CISs are valued correctly and that investors are […]

Jersey Funds Contact: Ben Robins Jacqueline Richomme Daniel Birtwistle Joel Hernandez Felicia de Laat This briefing gives a summary of the key features of a listed fund.Jersey: http://www.mourantozannes.com/media/452069/jersey_listed_funds.pdf

 Jersey Funds Contact: Ben Robins Jacqueline Richomme Daniel Birtwistle Joel Hernandez Felicia de Laat This briefing gives a summary of the key features of an unregulated fund. http://www.mourantozannes.com/media/452420/jersey_unregulated_funds.pdf

Jersey Funds Contact: Ben Robins Jacqueline Richomme Daniel Birtwistle Joel Hernandez Felicia de Laat This briefing gives a summary of the key features of a publicly-offered collective investment fund which is not an expert fund, recognized fund, listed fund or unregulated fund. http://www.mourantozannes.com/media/453338/jersey_public_funds.pdf

Jersey, Guernsey, Cayman Islands, BVI Funds Contact: Ben Robins After months of delay and uncertainty, the European Commission published the Level 2 Delegated Acts for the Alternative Investment Fund Managers Directive (AIFMD) on 19 December 2012. This short briefing summarises the impact of Level http://www.mourantozannes.com/media/857632/aifmd_update_-_publication_of_level_2_text_on_19_december_2012.pdf

Prior to 27 February 2013, consent from the Guernsey Financial Services Commission pursuant to the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959, as amended (more commonly referred to as COBO) was required for certain transactions where money was borrowed in the Bailiwick of Guernsey and for certain capital raising transactions. COBO created additional and […]

Confiscation order also made for £245,000 relating to insider dealing during October 2008 and March 2010. A former senior equities trader at Legal and General Investment Management has today been sentenced to two years in prison for insider trading at Southwark Crown Court. Paul Milsom disclosed inside information relating to forthcoming transactions in securities at […]