Rent-a-fund managers rebuff ‘misguided’ Esma criticism
Europe regulator warns of conflicts of interest between risk and portfolio managers in AIFMD delegation model
European companies that overseas portfolio managers can hire to set up and manage funds in Europe have hit out at accusations from the pan-European securities watchdog that the business suffers from a conflict of interest.
“We are fully independent from all of the asset managers to whom we are delegating the day-to-day portfolio management,” says Xavier Parain, group chief executive officer at FundRock, which provides host fund management services.
The accusations came in an August 18 letter
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Knives out: court cases cleave apart creditor expectations
Diverging court rulings show pitfalls and potential of challenging controversial restructuring transactions
Could the SEC revive the private fund adviser rule?
Industry experts deem a second life for the reviled rule unlikely
NAIC softens its rating overhaul. Insurers still don’t like it
Insurers worry that the regulatory body could override credit ratings without sufficient explanation
EU reporting regime a ‘hurdle’ for risk transfer deals, say investors
Onerous disclosure templates could deter US banks from marketing synthetic securitisations to European buyers
Fears of runaway risk on offshore reinsurance
Life insurers catch the eye of UK regulator for pension buyout financing trick
Hot topic: SEC climate disclosure rule divides industry
Proposal likely to flounder on First Amendment concerns, lawyers believe
Equitable lobbies for concentration charge on riskier ABS
“Ultra-high correlation of losses” between lower-rated tranches requires new regulation, insurer says
Court showdown looms for SEC private adviser rules
Legal victory for the regulator would establish new powers of prohibition, critics claim
