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Aug 24, 2020

Real solutions to the challenge of client onboarding

Onboarding new customers challenges asset and wealth managers globally. Manual processes for Know Your Client (KYC), anti-money laundering (AML), Countering the Financing of Terrorism (CFT) and sanctions screening checks on investors and distributors can lead to compliance failures resulting in fines, criminal sanctions, or even jail terms.

Jul 29, 2020

Registration is not enough: Are you in compliance with the new Cayman Islands Private Funds Law?

Closed-End funds may not be fully aware of the latest requirements resulting from the new Cayman Islands Private Funds Law 2020 (PF Law or PFL). To date, private funds have been exempt from registration with the Cayman Islands Monetary Authority (CIMA). The PF Law commenced on February 7, 2020, and created a regulatory regime for closed-end funds, such as private equity, venture capital, and private debt funds. Although many of the requirements under the PF Law are similar to the existing requirements for open-ended funds, there are some additional operational features contained in the PF Law which managers also need to address. 

Jan 15, 2020

RCI overlay of FINRA 2019 Exam Findings

FINRA recently released its annual 2019 Report on FINRA Examination Findings and Observations. This excellent summary of what FINRA has found from its examinations and observed practices highlights real-world areas of concern.

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