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Article
Publication date: 28 October 2014

Winston Penhall and Jacqui Hatfield

– The article sets out the practical implications of the EU Alternative Investment Fund Managers Directive for USA managers with a focus on the marketing provisions of AIFMD.

128

Abstract

Purpose

The article sets out the practical implications of the EU Alternative Investment Fund Managers Directive for USA managers with a focus on the marketing provisions of AIFMD.

Design/methodology/approach

This article summarises key marketing issues for USA managers.

Findings

The article addresses in particular the means by which USA fund managers who are not regulated in the EU can access EU investors including passive marketing.

Practical implications

AIFMD grants EU member states latitude when implementing their local private placement regime. Some EU member states have not yet implemented AIFMD while others have imposed conditions that are so onerous that in practical terms they equate to the negation of private placement as an option.

Originality/value

The article is of value to USA fund managers who are not regulated in the EU because it provides insight into the practicalities of navigating the minefield that is AIFMD.

Details

Journal of Investment Compliance, vol. 15 no. 4
Type: Research Article
ISSN: 1528-5812

Keywords

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Article
Publication date: 7 September 2015

Winston Penhall

– The article analyses the findings of the Court in the Arch Cru case relating to manager fiduciary duties under English law and conflicts of interest compliance failings.

431

Abstract

Purpose

The article analyses the findings of the Court in the Arch Cru case relating to manager fiduciary duties under English law and conflicts of interest compliance failings.

Design/methodology/approach

This article summarises the Arch Cru case with a focus on fiduciary duties and practical compliance suggestions for conflicts of interest situations.

Findings

The article addresses in particular the novelty of the fiduciary duty finding in the Arch Cru case and the justifiable concerns that compliance officers may have going forward given the nature of the regulatory enforcement approach taken by the FCA.

Practical implications

The article highlights the nature of the fiduciary obligations owed by managers under English law together with a brief analysis of the causes of action for breach of fiduciary duty and the linkage to regulatory compliance obligations.

Originality/value

The article is of value to investment managers, their compliance officers and general counsel where the manager provides investment management services under English law because it provides insight into the nature of investment manager fiduciary duties under English law and the impact of breaching those duties in a conflicts of interest scenario.

Details

Journal of Investment Compliance, vol. 16 no. 3
Type: Research Article
ISSN: 1528-5812

Keywords

Available. Content available
Article
Publication date: 28 October 2014

Henry Davis

99

Abstract

Details

Journal of Investment Compliance, vol. 15 no. 4
Type: Research Article
ISSN: 1528-5812

Available. Content available
Article
Publication date: 7 September 2015

Henry A Davis

107

Abstract

Details

Journal of Investment Compliance, vol. 16 no. 3
Type: Research Article
ISSN: 1528-5812

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