UK and European Regulatory Trends Update | Pocketmags.com

Shopping Cart -

Your cart is currently empty.
Upgrade to today
for only an extra Cxx.xx

You get:

plus This issue of xxxxxxxxxxx.
plus Instant access to the latest issue of 300+ of our top selling titles.
plus Unlimited access to 26000+ back issues
plus No contract or commitment. If you decide that PocketmagsPlus is not for you, you can cancel your monthly subscription online at any time. Auto-renews at $13.99 per month, unless cancelled.
Upgrade Now for $13.99 Learn more
This website use cookies and similar technologies to improve the site and to provide customised content and advertising. By using this site, you agree to this use. To learn more, including how to change your cookie settings, please view our Cookie Policy
Pocketmags Digital Magazines
CA
Pocketmags Digital Magazines
   You are currently viewing the Canada version of the site.
Would you like to switch to your local site?
Read anywhere Read anywhere
Ways to pay Pocketmags Payment Types
Trusted site
At Pocketmags you get
Secure Billing
Great Offers
Web & App Reader
Gifting Options
Loyalty Points

UK and European Regulatory Trends Update

With Schulte’s financial regulatory and fund lawyers

The Hedge Fund Journal met with Schulte Roth & Zabel’s London-based partners, Christopher Hilditch and Anna Maleva-Otto, to discuss a selection of regulatory matters of relevance to UK hedge fund and alternative investment managers. UK regulators’ areas of scrutiny are in many cases similar to those of US regulators, though with some differences of emphasis, detail and modus operandi. Today, key regulatory risk factors for managers include: outdated documents, general complacency, insufficient accountability and attempts at ‘passing the buck’ to other service providers.

Oversight, inspections and examinations

The UK Financial Conduct Authority (FCA) does not issue ‘deficiency letters’ in the way that the US Securities and Exchange Commission (SEC) does, nor does it make regular visits to managers’ offices as the US regulator does. Admittedly, when in 2014 permissions were varied so hedge fund managers could become Alternative Investment Fund Managers (AIFMs), the FCA did review policies and documents, but in general, “the FCA follows a more thematic review process, picking a topic like conflicts of interest or controls, and selecting 30-40 firms for a phone call or visit and a desk review of policies and procedures,” Maleva-Otto explains. Additionally, most hedge fund managers are overseen by the FCA’s Wholesale supervision team rather than by dedicated examiners. The lower frequency of FCA visits – with some firms not inspected for years – “can create a false sense of complacency,” Maleva-Otto finds.

READ MORE
Purchase options below
Find the complete article and many more in this issue of The Hedge Fund Journal - Issue 115 - July | August 2016
If you own the issue, Login to read the full article now.
Single Issue - Issue 115 - July | August 2016
$159.99
Or 15999 points
READ NOW
Getting free sample issues is easy, but we need to add it to an account to read, so please follow the instructions to read your free issue today.
Email Address
6 Month Digital Subscription
Only $ 170.00 per issue
$849.99
Or 84999 points

View Issues

About The Hedge Fund Journal

INFORMING THE HEDGE FUND COMMUNITY With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry.