Regulation and Compliance

Regulation and Compliance - Articles & White Papers

Reports and white papers on investment regulation and compliance issues. Amongst the research in this investment compliance and regulation section are white papers on AIFMD (Alternative Investment Fund Managers Directive) and Solvency II - particularly the practical implications for fund managers and insurers. Reports discussing the impact of regulation on fund management companies, and the operational challenges this presents, have been particularly well received, whilst regulatory primers (for instance providing an overview of who regulates whom and how) have also been well read. Other surveys and articles cover financial regulatory policy, hedge funds regulation, investment regulation, risk management, IFRS financial statements, GIPS performance reporting and the future of investment compliance for asset owners.
  • CFA Institute

    Survey of Canadian CFA Charterholder Compensation (2015)

    An excellent and comprehensive study of compensation amongst Canadian CFA Charterholders. Showing salary, bonus and benefit levels for portfolio managers, multi-asset PMs, portfolio analysts, risk analysts, compliance/regulatory professionals, investment marketers, product development professionals, investment advisers and private client execs. Compensation levels are cut and ...

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  • Asset Management (Paolo Vanini, 2016)

    This 300-page book could have been entitled, "everything you ever wanted to know about investment", such is the breadth of topics covered. The author, Paolo Vanini gives readers a thorough grounding in the main players in institutional investment, and how the industry operates. A wide variety of the building blocks of the investment process are covered in detail, ...

  • Bruegel

    Brexit and the European financial system: mapping, markets, players and jobs (Bruegel, 2017)

    When the UK leaves the EU and its single market by the spring of 2019, UK-based financial firms will lose their passport to do direct business with EU27 clients. Brexit will thus lead to a partial migration of financial firms from London to the EU27 (EU minus the UK) . This 13-page paper by Bruegel provides a comparison between London and four major cities (Frankfurt, Paris, Dublin ...

  • Standard Life Investments

    Solvency II and Absolute Return Investing (Standard Life, 2016)

    In this paper, the authors examine the implications the Solvency II "look-through" principle has for calculating solvency capital needs. The principle assesses the individual investments held in a fund and their true risk characteristics. The authors highlight how it may change the way various asset classes are viewed by insurers, among other issues.

  • PricewaterhouseCoopers

    Global Hedge Fund Distribution Survey 2015: "Distribution Disrupted" (PwC/AIMA)

    This 30-page report was produced by PwC in conjunction with AIMA. It analyses the disruptive forces currently impacting upon hedge fund distribution, and explores how hedge fund firms are responding and thriving under these conditions. The report explores which products are selling at present, the landscape for liquid alts, the impact of regulation and the sophistication and ...

  • Deloitte

    Global Risk Management Survey 2015 (Deloitte)

    This report from Deloitte include a seven page spotlight on the Asset Management industry. The 70 page document covers, amongst other things risk governance, enterprise risk management, stress testing and the management of key risks such as credit risk, market risk, liquidity risk, ALM, operational risk and regulatory risk.

  • Operational challenges facing investment managers in 2015 (Swift)

    This 25 page report is based on a survey of the heads of investment operation and fund distribution at large asset management companies. The report discuss the impact of regulation upon fund management companies, the risks associated with outsourcing, and issues surrounding corporate actions, collateral management, trade processing and fund distribution.

  • State Street Global Advisors

    The Future of Investment Compliance for Asset Owners

    This 14 page document is informed by interviews with North American asset owners and investment managers between May and December 2014, seeking to understand how they manage compliance programs. Although a few respondents conduct their compliance back-office work in house, the majority have contracted it out to custodial firms or providers that supply a full back-office service.

  • Alternative Marketing for US Alternative Investments (2015)

    Direct solicitation by hedge funds was banned until only recently. In this paper, the authors analyze the impact of hedge fund advertising by comparing hedge fund circumstances with sibling mutual funds in parent institutions, extrapolating flow and performance. They find that ads are predicted by low net inflows, but followed by large losses, suggesting that hedge fund ...

  • Citi

    Opportunities and Challenges for Hedge Funds - Changes Driven by Regulation - 2014

    • 09 Feb 2015
    • Company: Citi

    This comprehensive 60-page analysis argues that regulatory drivers are now becoming the key forces of change in the hedge fund industry. It examines the changes to industry structure resulting from such issues as; the exit of proprietary trading talent from sell-side corporations; the impact of increasing AUM at hedge funds, future increases in the cost of financing emanating from ...

  • KPMG

    2013 Global Hedge Fund Survey: The cost of compliance (2013)

    • 09 Feb 2015
    • Company: KPMG

    The institutionalization of the hedge fund sector has put managers under scrutiny from regulators, resulting in a promulgation of regulations in the aftermath of the credit crisis. This has created a complex environment of regulatory change.

  • Fidelity International

    Solvency II: Time to embrace HY and EMD (Fidelity International, 2017)

    It is a common perception that Solvency II penalises high yield bonds and emerging market debt - but the costs are lower than is often thought. Even with increased capital charges, these asset classes still pay. In today’s world, with yields on traditional fixed income instruments at historical lows, it makes sense for the insurance industry to embrace both categories as a ...