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Controlling the flow? New SEC fund liquidity management rules
Controlling the flow? New SEC fund liquidity management rules
Peter Jones Oct 17, 2016 0 Comments

On October 13th the SEC approved new Liquidity Management rules for open-end mutual funds and ETF’s that are required to be in place for most funds by December 1st 2018. This may seem like a long time away, but reviewing the small print of the requirements, funds may well need all that time to get a robust system and process in place to comply.

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Municipal Market Moils
Municipal Market Moils
May 20, 2016 0 Comments

It has been quite a disconcerting time for those investors active in the US Municipal Bond market. Following the Edward Jones settlement in the primary markets last summer (which may yet have implications for new issue pricing) and in the midst of the Puerto Rico credit crisis, two longstanding post-trade market operating customs have also been upended, requiring a fundamental reassessment of Muni fund practices.

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Hedge Fund Valuation Under AIFMD
Hedge Fund Valuation Under AIFMD
May 11, 2016 0 Comments

Prior to 2011, there was a developing global consensus on best practice for the valuation of assets held in hedge funds. In 2007, IOSCO published its Principles for the Valuation of Hedge Funds and in the same year the Hedge Fund Standards Board unveiled its first set of ‘comply or explain’ standards (which covered valuation) and AIMA released the second edition of their Guide to Sound Practices for Hedge Fund Valuation. Two years later in the US, the report of the Presidents Working Group on Best Practices for the Hedge Fund Industry had a chapter on valuation and this was fully adopted into the Managed Funds Association’s Sound Practices for Hedge Fund Managers.

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Caveat Emptor Redux: SEC guidance for US Mutual Funds on the use of pricing services.
Caveat Emptor Redux: SEC guidance for US Mutual Funds on the use of pricing services.
Peter Jones Nov 03, 2015 0 Comments

The SEC chose an 800+ page release in 2014 ostensibly focused on other matters, titled – “Money Market Fund Reform; Amendments to Form PF, Investment Company Act Release No. 31166, July 23, 2014” to provide some additional guidance on pricing for US Mutual Funds, notably on the use of pricing services.

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Independent Valuation & Pricing policy under AIFMD
Independent Valuation & Pricing policy under AIFMD
Peter Jones Sep 29, 2015 0 Comments

Under the Alternative Investment Fund Management Directive (AIFMD) – which came into force in July 2011, Alternative Investment Fund Managers (AIFM's) are required to establish, maintain, implement and review for each Alternative Investment Fund (AIF), appropriate and consistent written policies and procedures for the valuation of assets across the fund.

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Caveat Emptor? Regulation And Vendor Due Diligence.
Caveat Emptor? Regulation And Vendor Due Diligence.
Peter Jones Jun 08, 2015 0 Comments

With the banks apparently dealt with (!?) global regulators are now turning their attention to asset managers. The larger of these firms are being considered for Systematically Important Financial Institution (SIFI) status and the industry as a whole is under scrutiny for the way they conduct their business.

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Head in the Cloud?
Head in the Cloud?
Peter Jones Jan 06, 2015 0 Comments

More funds are now looking at cloud based solutions for cost effective scaling of portfolio risk analytics.

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London has become a hub for FinTech innovation
London has become a hub for FinTech innovation
Peter Jones Dec 02, 2014 0 Comments

After a packed day with panels giving in-depth information on regulatory requirements and developments in pricing methods at the Valuation Risk Forum in London on 26th of November, it was refreshing to end the conference on a positive note – London is a true hub for innovation in financial technology.

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Developments in Evaluated Pricing
Developments in Evaluated Pricing
Peter Jones Dec 02, 2014 0 Comments

Pricing analyst workflow and timeliness of Evaluated Pricing to become key focus areas for the vendors

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