Tuesday, 22 July 2014
Last updated 3 hours ago
Mar 29 2011 | 12:48pm ET
Top hedge fund executives have won a reprieve from the U.K.'s new registration system.
Set to go into effect on May 1, the Financial Services Authority has been forced to delay the newly-widened approved persons program due to technical problems. Issues with regulator's online notifications and applications system have made the FSA unable to accept and process applications.
The FSA did not set a new registration deadline, but promised to give firms two months' notice, HFMWeek reports.
Under the FSA's expanded approved persons scheme, top executives with "significant influence controlled functions" will have to register. The regime will also cover U.S.-based executives at hedge funds with U.K. offices.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…