Monday, 20 October 2014
Last updated 2 days ago
Oct 30 2013 | 10:06am ET
The U.K. will speed its approval time for UCITS products, aiming to attract managers who might otherwise choose another domicile.
The approval period for UCITS funds will be cut from six months to two in April, the Financial Conduct Authority said. The regulator said it hopes to actually make its decision within six weeks on 90% of applications, and in 2015 will cut the waiting period to just one month.
Other funds will see their approval times cut in half, to three months, with a reduction to two months in 2015.
The moves are designed to help the U.K. compete with long-standing European fund centers like Ireland and Luxembourg.
"They have been faster than our current system," FCA supervision director Clive Adamson said today. "We don't want the U.K. to be disadvantaged in terms of approval times. I'm trying to make London more attractive."
"We are not lowering our standards," Adamson continued. "We are just applying more resources."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...