Regulation

Setting up OFCs is said to save time and cost for managers establishing funds at other domiciles and distributing funds in Hong Kong.

The UK’s FCA and ten other financial regulators have laid out plans for a new global financial innovation network.

The investigation follows the recent $75 million settlement Deutsche Bank agreed to pay to the SEC for improper handling of pre-released ADRs.

The European Commission intends to endorse the draft regulation but will amend certain details ahead of implementation. 

Prime brokers and their capital introduction teams may have to rethink how they operate with new pre-marketing rules set to be enforced.

The watchdog has called upon UK and German regulators to revise national exemptions on collateral requirements within the UCITS framework. 

The FCA's decision to refer investment consultants to the Competition and Markets Authority could spell radical changes for the industry.

The German bank will pay the settlement after its US subsidiaries were charged with improper handling of “pre-released” ADRs.

Regulators are hoping to harmonise the safekeeping requirements for UCITS and AIFMD funds, however this could mean stricter record-keeping requirements.

Industry awaits formal approval from European Commission, but Global Custodian understands it will make no 'fundamental changes' to SFTR which now looks to be adopted in at the end of the year or Q1 2019.