Search results “Investment services directive”
EU Law - Freedom of Establishment and Services
The distinction between establishment and services is based on the idea that establishment is more permanent whereas services are more temporary in nature. Establishment mainly falls under Art. 49 with 49(1) allowing for primary and secondary establishment and (2) prohibiting unequal or discriminatory treatment. The law in this area is directly effective as per Reyners [1974]. Equivalent qualifications across member states are interpreted broadly as per Heylens [1987] and also Directive 2005/36 Meanwhile article 49(2) has been broadened beyond discrimination to include any unjustified restriction on the freedom of establishment. The main case in this are is Gebhard [1995] that allows for restrictions only if they meet four criteria: 1) Non-discriminatory 2) Justified 3) Needed to secure an objective 4) Don't go beyond what is necessary to achieve that objective A national can rely on Art. 49 with respect to their own member state only when they have exercised the freedom of movement themselves as per Knoors [1979] Article 54 states companies should be treated in the same way as individuals and although company law can vary from state to state the ECJ has placed a lot of focus on achieving the overall objective of freedom of establishment as seen in Centros [1999] and Überseering [2002]. However once a company is established in a Member State they are then subject to that country's rules as regards incorporation etc. as per Daily Mail [1988] and Cartesio [2008] The liberalisation provided by Art. 54 means that it can be difficult to crack down on tax avoidance as seen in Cadbury Schweppes [2006]. Freedom of services is based on the temporary nature of the work rather than the infrastructure or, as per Commission v Portugal [2010], the period of time. Art. 57 loosely defines services and 58 excludes other services that are covered in other parts of the treaty. Art. 56 also has direct effect as per Van Binsbergen [1974]. Similarly there also has to be an inter-state element as seen in Deliège [2000] Also covered is the freedom to receive services; Luisi & Carbone [1984] The service does have to be provided for remuneration and this line can become blurred in relation to certain healthcare systems that are a hybrid between user and government payments Some controversial services such as abortion, gambling and marijuana can still be considered services (Grogan [1991]) but can be subject to national rules that provide a proportional and non-discriminatory restriction (Zenatti [1999]). Taking a broad definition it is even possible that certain social benefits may also fall within the definition; Cowan [1989]. Art. 62 allows for restrictions on policy, security and health grounds. Beyond this Van Binsbergen [1974] sets out the conditions for any restriction imposed by a Member State: 1) Pursuit of a legitimate public interest 2) Applied without discrimination 3) Proportionate 4) Respects fundamental rights (Carpenter [2002]) This freedom can be controversial as it allows greater liberalisation in the labour market at the expense of employee rights. This came to a head in Laval [2007] although this judgment has been tempered somewhat by the Rome I Regulation. Restrictions on tax grounds can be allowed to prevent fraud but not for other, broader reasons; Danner [2002]. Non-discriminatory restrictions can also be caught if they are a hinderance to the freedom of services (Alpine Investments [1995]) and Gebhard [1995] also applies within this context. The Bolkenstein Directive sought to achieve greater harmonisation by focusing on the country of origin but after protest this was watered down and so only mainly deals with a range of procedural and administrative issues.
Views: 7383 marcuscleaver
Markets in Financial Instruments Directive
The Markets in Financial Instruments Directive 2004/39/EC (known as "MiFID") as subsequently amended is a European Union law that provides harmonised regulation for investment services across the 31 member states of the European Economic Area (the 28 Member States of the European Union plus Iceland, Norway and Liechtenstein). The main objectives of the Directive are to increase competition and consumer protection in investment services. As of the effective date, 1 November 2007, it replaced the Investment Services Directive. MiFID is the cornerstone of the European Commission's Financial Services Action Plan whose 42 measures will significantly change how EU financial service markets operate. MiFID is the most significant piece of legislation introduced under the 'Lamfalussy' procedure designed to accelerate the adopting of legislation based on a four-level approach recommended by the Committee of Wise Men chaired by Baron Alexandre Lamfalussy. There are three other 'Lamfalussy Directives' — the Prospectus Directive, the Market Abuse Directive and the Transparency Directive. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 2002 Audiopedia
The ABC's of AIFMD
Join Paul Hastings Investment Management partner Art Zwickel, as he moderates a discussion on the Alternative Investment Fund Managers Directive (AIFMD). This conversation provides color and context to the current regulatory regime in Europe and also discusses AIFMD's practical implications. Panelists include Michelle Lynd, General Counsel at Dalton Investments, and Daryoush Niknejad, Managing Director at Darian Capital Services. www.paulhastings.com
Views: 4119 Paul Hastings
Link'n Learn - Basel III and CRD V/ CRR II
Link'n Learn | Interactive access to Deloitte knowledge Led by Deloitte’s leading industry experts, Link’n Learn is series of webinars conducted over the course of the year, specifically designed to keep you up-to-date with today’s critical trends and the latest regulations impacting your business. The "Basel III and CRD V/CRR II" webinar agenda: Basel III elements - Large Exposures - Leverage ratio - Exposure to Central Counterparties - Net Stable Funding ratio Basel IV elements - Fundamental review of the trading book (FRTB) - Standardised Approach for Counter party credit risk (SA-CCR) - Interest rate risk in the book (IRRBB) - Disclosure Recovery and Resolution - Total loss absorbing capacity- TLAC Other Topics - Waivers - SME factor - IPU - IFRS 9 - Investment firms Speakers: - John Kernan, Director, Audit & Assurance, Ireland The 2017 Link’n Learn program: https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/financial-services/IM/lu-linknlearn-programme-2017.pdf Find the previous webinars here: https://www2.deloitte.com/lu/en/pages/financial-services/solutions/link-n-learn-interactive-access-to-deloitte-knowledge.html
Views: 1038 Deloitte Luxembourg
4 Types of Customers and How to Sell to Them - How To Sell High-Ticket Products & Services Ep. 5
Identified what kinds of customers you are selling to. Watch the whole series here: https://www.youtube.com/playlist?list=PLEmTTOfet46PlgDZSSo-gxM8ahZ9RtNQE Watch this video until the end to discover the buying criteria for each type of clients. ★☆★BONUS FOR A LIMITED TIME★☆★ You can download Dan Lok's best-selling book F.U. Money for FREE: http://customertypes.danlok.link ★☆★ SUBSCRIBE TO DAN'S YOUTUBE CHANNEL NOW ★☆★ https://www.youtube.com/user/vanentrepreneurgroup?sub_confirmation=1 Dan Lok, a.k.a. The King of High-Ticket Sales, is one of the highest-paid and most respected consultants in the luxury and “high-ticket” space. Dan is the creator of High-Ticket Millions Methodology™, the world's most advanced system for getting high-end clients and commanding high fees with no resistance. Dan is one of the rare keynote speakers and business consultants that actually owns a portfolio of highly profitable business ventures. Not only he is a two times Tedx opening speaker, he's also an international best-selling author of over 12 books and the host of Shoulders of Titans show. Dan's availability is extremely limited. As such, he's very selective and he is not cheap. But if you think you or your brand might benefit from one-on-one interaction with Dan, visit http://danlok.com ★☆★ WANT TO OWN DAN'S BOOKS? ★☆★ http://www.amazon.com/Dan-Lok/e/B002BLXW1K ★☆★ NEED SOLID ADVICE? ★☆★ Request a call with Dan: https://clarity.fm/danlok ★☆★ CONNECT WITH DAN ON SOCIAL MEDIA ★☆★ Blog: http://www.danlok.com/blog/ Podcast: http://www.shouldersoftitans.com/ Facebook: https://www.facebook.com/danlokfan/ Twitter: https://twitter.com/danthemanlok Instagram: https://www.instagram.com/danlok/ YouTube: https://www.youtube.com/user/vanentrepreneurgroup Linkedin: https://www.linkedin.com/in/danlok Meetup: http://www.meetup.com/Vancouver-Entrepreneurs-Group-Business-Network/ Amazon: http://www.amazon.com/Dan-Lok/e/B002BLXW1K Keywords: big ticket sales, high ticket sales, high ticket selling, charge more money, increase prices, dan lok, preimum prices, luxury marketing expert, luxury selling, luxury sales, mastermind group, high level mastermind, high end clients, high end marketing, affluent clients, selling to affluent, affluent chinese, marketing to affluent, consultant, coach, consulting, coaching, speaking, speaker, lead generation, generate leads, professional services, coaching group, done for you service, high ticket sales funnel, closing sales, event marketing This video is about: 4 Types of Customers and How to Sell to Them - How To Sell High-Ticket Products & Services Ep. 5 https://youtu.be/F2uj9eApGXI https://youtu.be/F2uj9eApGXI
Views: 609166 Dan Lok
Alternative Investments Explained
Why do alternative assets matter? Watch how the power of alternative investments can generate strong returns, then visit blueskyfunds.com.au. Blue Sky Alternative Investments Limited is an Australian-based diversified alternative asset manager specialising in four asset classes: Private Equity, Private Real Estate, Hedge Funds and Real Assets. Visit blueskyfunds.com.au to find out more.
EU Law - Free Movement of Capital and the Economic and Monetary Union
Under Art. 63 TFEU “all restrictions on the movement of capital…shall be prohibited”. This free movement of capital has vertical and horizontal direct effect as per Sanz de Lera [1995]. The freedom also includes the movement of capital between EU and third countries. Movement of capital is defined in a non-exhaustive list in Directive 88/361. The definition is broad and can include: Loans/ Investments; Heirs of the van Hiltern-van der Heijden [2006] Mortgages; Westdeutsche Landesbank v Stefan [2001] Shares; Test claimants in the FII Group [2006]. There are exceptions to the free movement of capital, the most clear of which is that state's retain the mandate when it comes to direct taxation as per Art. 65. However under Art. 65(3) this cannot be used to justify discrimination based on nationality (Verkooijen [2000]). The further exceptions under Art. 65(1)(b) are that action can be taken to prevent infringement of national law and, in a general sense, this allows for the effective administration of the tax system. Art. 65(3) applies again and there must be a direct link between the action taken the reason identified (ELISA [2007]). There is also a narrow exception in cases of public policy/security and here the measures must be proportional (Scientology International [2000]). The Economic and Monetary Union (EMU) attempted to get started in 1969 but faced trouble in the form of floating exchange rates. Another attempt called the Economic Monetary System was attempted in 1978 but with limited success. The EMU itself had three stages: 1) Completion of the internal market 2) A European System of Central Banks 3) The locking of exchange rates and a single currency There are a number of advantages that theoretically apply to the EMU such as growth and investment but this has to be balanced against the difficulties of the 2008 financial crisis that was arguable exacerbated by the EMU. Nevertheless the EU is keen to double down on integration as seen in the Five President's Report that outlines a plan from 2015-2025. This will have to face the realities of the EMU in a global economy. The ECB has a great degree of independence (Art. 130) and is responsible for monetary policy. It can issue recommendations/opinions and even fines. The ESCB is the collection of national central banks alongside the ECB and seeks to control price stability. Finally the economic health of one Member State can have a knock-on effect on other Member States so attempts are made to co-ordinate economic policy. Multilateral surveillance under Art. 121 as well as the Stability and Growth Pact allows for concerns to be raised at Council level so that warnings and guidelines can be drawn up. There is also an excessive deficit procedure but the effectiveness of both of these mechanisms is questionable.
Views: 623 marcuscleaver
Link'n Learn - Investment Management Funds
Link'n Learn | Interactive access to Deloitte knowledge Led by Deloitte’s leading industry experts, Link’n Learn is series of webinars conducted over the course of the year, specifically designed to keep you up-to-date with today’s critical trends and the latest regulations impacting your business. The "Investment Management Funds" webinar agenda: Introduction General Principles - How an Investment Fund Works - Different Structures - Parties Involved Regulatory Evolution Market Trends Speakers: - Brian Jackson, Partner, Audit & Assurance, Ireland - Derina Bannon, Senior Manager, Audit & Assurance, Ireland - Paola Liszka Draper, Senior Manager, Advisory & Consulting, Luxembourg - Julie Farren, Manager, Advisory & Consulting, Ireland The 2018 Link’n Learn program: https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/financial-services/IM/lu-linknlearn-programme-2018.pdf Find the previous webinars here: https://www2.deloitte.com/lu/en/pages/financial-services/solutions/link-n-learn-interactive-access-to-deloitte-knowledge.html
Views: 171 Deloitte Luxembourg
Webinar Presentation: UCITS V and its Alignment with AIFMD
Webinar Presentation: UCITS V and its Alignment with AIFMD
Chapter 1 of 4: How the PSD2 will change the European payments landscape: The scope of the new direc
Gavin Maclean, head of cash management and payment product for global transaction banking at Lloyds Bank, outlines the main aims of the second iteration of the Payment Services Directive, as well as how incumbent banks can respond to new competitors.
Views: 5773 The Banker
Payments: Converging Users, Sectors and Technology
The global payments landscape is in a state of fundamental transformation. The revised Payment Services Directive (PSD II) has the ambition to make the sector fit for the digital age and will enable new entrants to offer innovative services to consumers. As users call for the convenience of the digital experience, well- established financial services providers must embrace the change. However, both new payments providers and traditional financial institutions face challenges related to cybersecurity, data protection and privacy, among others. While the first ones need to find solutions to reassure consumers, the second ones need to adapt to respond quickly enough, and with compelling value propositions. Traditional financial institutions, tech and FinTech companies are expected to bring payment solutions that combine at the same time security and convenience. The next step is therefore achieving a full convergence of both elements that brings together users, sectors and technology. European legislation plays and will continue to play a significant role to reach this objective. EURACTIV organised this high-level debate to discuss new ways of convergence between established players and newcomers in the payments area. Questions included: - How are incumbents adapting to the demands of the market? - Does FinTech represent a threat or an opportunity for collaboration to banks and financial institutions? - How can these players make the best use of new technology such as digital identity, Blockchain, and algorithms? - How can traditional and new financial players further collaborate in this environment of increasing convergence? How can the EU regulatory framework enable this convergence? - What will be included/missing from the Commission’s plan on Fintech?
Views: 89 EURACTIV
Corporate Governance of Investment Firms and Remuneration Requirements in MiFID II
e-presentation by Dr Rik Mellenbergh This e-presentation was recorded at ERA’s conference “MiFID II: Latest Developments for Practice”. The presentation provides a practical overview of the relevant rules on corporate governance in MiFID II and how they relate to corporate governance in general. In addition, it deals with the remuneration requirements that apply considering also the rules in the Capital Requirements Directive IV (CRD IV). --- For the premium version of this e-presentation go to: https://www.era.int/?126101&en
Views: 202 European Law
A clip from: MiFID II - A sideways view
MiFID II is arguably the largest piece of regulatory change to be introduced for investment markets since its predecessor first came in to force in 2007. For many firms it will be a race against the clock to complete their implementation projects in time. Angela takes a look back at the history of the Investment Services Directive- how it morphed into MiFID (I) and the positive and negatives of the process. Angela also touches on the importance of Brexit and 'The Disrupters' that might be more important than any MiFID I, II, III or more!
Views: 40 The CISI
DMS Insights: Alternative Investment Fund Managers Directive
DMS Managing Director Derek Delaney, Director Conor MacGuinness and Risk Director Jason Poonoosamy discuss AIFMD.
Views: 1614 DMS Governance
Rethink Banking
The revised Payment Services Directive (PSD2) is not just about compliance; it will revolutionize the banking world. The introduction of PSD2 means that banks will have to share their data with third parties. This will open the door for non-banking firms to compete with banks, unleashing a new world of open banking. As a result, banks will be forced to significantly improve their services to maintain strong relationships with their customers and ultimately gain a competitive advantage. Filip Weynants, Regulatory Compliance & Transformation specialist for the financial sector, discusses the challenges and opportunities for banks.
Views: 31 KPMG Belgium
Markets in Financial Instruments Directive II (MiFID II)
Members :: Treasury Consulting LLP Pleased to Present Video titled - " Markets in Financial Instruments Directive II (MiFID II) ". Video would be covering about MiFID II like Multilateral Trading Facility (MTF), Organised Trading Facility (OTF) , Regulated Markets. Video would also be covering as how Feeders like Thomson Reuters , Bloomberg are having their Order Management Systems (OMS) , Execution Management Systems (EMS). You are most welcome to connect with us at 91-9899242978 (Handheld) , [email protected] , [email protected] , Skype ID ~ Rahul5327 , Twitter @ Rahumagan8 or our website - www.treasuryconsulting.in
Value Added Tax (VAT) and Taxation in Poland. Investment and Business in Poland
Oruga Group Business and Investment Law ► https://orugagroup.com/en Today's video topic is #VAT - means Value Added Tax. The Polish Value-Added Tax Act of 11 March 2004 is based on European Union Legislation, and in particular, on the provisions of Directive 2006/112/EC on the common system of value added tax so-called the VAT Directive. VAT rates are as follows: 23% is a standard VAT rate. 8% is a reduced VAT rate - applied to supplies of certain food items, medical products, hospitality services and community housing. 5% is also reduced VAT rate - applied to supplies of certain food items, such as bread, dairy products, meats, and selected publications. Entities that wish to conduct activities subject to VAT in Poland must file a registration form before the date of the first taxable activity. Taxpayers who intend to conduct transactions between different EU countries must be EU VAT registered. The annual sales that do not exceed PLN 150,000 are exempt from VAT. However, the taxpayers may choose to pay VAT #tax. It depends on the scope of entity activities and in many cases it is more convenient for the entity to choose being VAT registered. Foreign companies can become a VAT registered companies too, but in order to register for VAT purposes in Poland, entities without a registered office in Poland, permanent place of residence or place of business in the European Union must appoint a tax representative. Tax representatives are responsible for the tax liabilities of the taxpayers they represent. Taxpayers file monthly VAT reports by the 25th of the month following the month in which the tax obligation arose, or quarterly, by the 25th of the month following the quarter in which the tax obligation arose. As a rule, VAT is paid to the tax office at the time of filing an appropriate VAT report. However, in the case of taxpayers paying VAT on a quarterly basis, monthly VAT withholdings must be made if the tax due results from the return filed for the previous quarter. Taxpayers with annual sales of less than EUR 1,200,000 are not required to make monthly withholdings (VAT can be paid quarterly). VAT is deducted, partially deducted or reduced if the criteria are met. As for example the VAT on accommodation and gastronomic services is not subject for deduction. The tax refund is usually paid into the bank account indicated by the taxpayer. As a rule VAT is refunded if requested by the taxpayer in a tax report, within 60 days from the date of filing an appropriate VAT report. The VAT refund period may be shortened to 25 days if additional criteria are met. If no taxable sales are concluded, the taxpayer may apply for a tax refund within 180 days of filing the VAT tax return. #investmentinpoland #businessinpoland Follow us: Facebook ► https://www.facebook.com/oruga.group.llc/ Instagram ► https://www.instagram.com/orugagroup/ Linkedin ► https://www.linkedin.com/company/oruga-group/?originalSubdomain=pl Twitter ► https://twitter.com/orugagroup Сooperation: [email protected] ORUGA GROUP is a law firm and expert of foreign investments in Poland. We provide complex legal services of company registration in Poland and other EU countries. Our main activities are practicing corporate law, providing investment services, offering legal advisory to investment in Europe. Oruga Group Provides: - legal and migration services to Poland - business registration in Poland - complex legal services - business immigration to Poland and EU - residence permit - real estate purchase and investment in Poland On our channel "Oruga Group - Corporate Law & Investment Services", you will get to know about: investments in Poland, where to invest your money, how to start a company in EU, alternative properties in Poland and some ideas about starting a business.
Tech Talk: interview with Steve Kirsch, CEO of Token
Steve Kirsch, founder and CEO of Token, explains to The Banker’s Joy Macknight how banks can monetise their investment in complying with the second Payment Services Directive.
Views: 234 The Banker
Mifid II: How will Brexit impact Financial Services regulation?
Markus Ferber, Vice-Chair of Committee on Economic and Monetary Affairs, argues for a post-Brexit review of Mifid II regulation. We're new! Subscribe to Core Politics ►► https://goo.gl/aLFBjC CONNECT WITH CORE POLITICS Twitter: https://twitter.com/CorePoliticsTV Facebook: https://www.facebook.com/CorePolitics Web: http://www.corepolitics.tv ABOUT CORE POLITICS Based at studios down the road from Westminster, we are an online television channel, offering on-demand, bite-sized politics news digests and interviews with leading political opinion formers from Westminster and beyond. Made by Core London
Views: 671 Core Politics
FinMarket: Your Gateway To The Financial Market
Is FinMarket a Scam? www.finmarket.com FinMarket is fully regulated by the Cyprus Securities and Exchange Commission, meaning that all activity undergoes the strictest of supervision and audit. This guarantees you as a trader that FinMarket adheres to all regulatory requirements under the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007) and the European Markets in Financial Instruments Directive (MiFID). So, the truthful answer is that FinMarket is not a scam. With my own personal experience to back this assurance, FinMarket are a professional and qualified online broker with a reputable reputation throughout the industry. In addition, as part of the legal framework requirements and the efforts for transparency, clients may publicly view all of FinMarket's legal documentation and policies as a testament of the brand's following and commitment to ethical and legal standards. Trade with confidence!
Syed Kamall MEP speaks out on the Alternative Investment Fund Managers (AIFM) Directive
Syed Kamall calls for less regulation coming out of the EU that will hurt London's financial services industry, people's pensions and investment in developing countries.
Views: 244 taggartdavis
Veneziano & Partners Ltd with Attilio Veneziano
Veneziano & Partners is an international consulting boutique specialised in the European regulation of cross-border fund distribution and global fund registration services under UCITS & AIFMD. In catering to a selected group of investment managers, hedge fund managers and financial institution worldwide, the firm offers a custom-made service that is unique and allows its clients to gain competitive advantage in an ever increasingly regulated environment for cross-border fund distribution of offshore investment funds under UCITS & AIFMD. For non European managers, eager to broaden the horizons of their domestic fund offering, the firm has developed a service of strategic advisory and advocacy, aimed at providing intelligence, insights and network support to successfully tackle the challenges of European cross-border fund distribution. UCITS Marketing Passport is one of the most distinguished features of a UCITS, which makes it a very powerful tool to raise capital. Whilst it is only a mere misconception that UCITS funds can be sold per se across Europe, for the sole reason of being established and subject to supervision there, the UCITS Marketing Passport is what enables cross-border fund distribution in Europe and is a consolidated and streamlined process, which makes for a swift access to market. The UCITS brand is very strong and has been associated overtime to a growing history of success in Europe and beyond. Designed with the retail investor in mind, it quickly acquired popularity especially amongst institutional investors all over the world. Directive 2009/65/EC (UCITS IV) introduced an electronic, regulator vs. regulator procedure for UCITS Marketing Passport. Within 10 working days from submission of a complete application to the respective Home State regulator, marketing of UCITS funds can commence in the Host State of choice. Whilst the cross-border process for passporting UCITS funds was improved, there is still no uniform definition of marketing at European level. Accordingly, because the marketing is regulated at local level, Host States are at liberty of gold-plating the process and impose compliance with additional elements required in order to grant marketing passport to UCITS funds in a specific country. One of the most common requirements is the appointment of a local Paying Agent for UCITS. UK Facilities Agent Service From its Mayfair offices in London, Veneziano & Partners offers UK Facilities Agent Services for fund managers willing to distribute their funds in United Kingdom. This service allows managers to discharge the obligations imposed by COLL 9.4 of the FCA Handbook, requiring that foreign managers maintain an address and facilities for investors in the United Kingdom when passporting UCITS funds for marketing in United Kingdom. AIFMD Marketing Passport is the new way to distribute Alternative Investment Funds in Europe. The process of AIFMD Marketing Passport is streamlined and ensures a swift access to market. It enables cross-border AIFs distribution in Europe and makes for a very powerful tool to raise capital amongst institutional investors in Europe. The AIFMD brand is gaining momentum and recognition in the market further to Directive 2011/61/EU, which introduced an electronic, regulator vs regulator AIFMD marketing passport for EU AIFMs and AIFs. Within 20 working days from submission of a complete marketing passport application to the Home State regulator of an AIFM, marketing can commence in the Host State of choice. The AIFMD marketing passport under for EU AIFMs and EU AIFs mirrors the one introduced by UCITS IV directive. European investor base has always been instrumental to the growth of non-EU AIFMs. AIFMD accordingly contains third country recognition mechanisms for the application of AIFMD marketing passport to non-EU AIFM or non-EU AIF. Delegated acts will need to be adopted by the European Commission, following a positive advice delivered by ESMA. The relevant provisions on the extension of the AIFMD marketing passport to third countries come quite handy for foreign fund managers with an interest in European markets. National Private Placement Regime In the interim, non-EU AIFs can be marketed in Europe without a passport by EU and non-EU AIFM via national private placement regimes under AIFMD. AIFMD contains provisions and requirements under Article 36 and Article 42 for the marketing in EU without a passport of non-EU AIFs also by non-EU AIFM. Host Member States are at liberty of gold-plating the process of the national private placement registration and impose compliance with additional requirements.
DMS Offshore Investment Services: Spotlight on Dublin
A look at DMS Dublin operations and an introduction to the Dublin team!
Views: 176 DMS Governance
DMS Webinar: AIFMD and Distribution
DMS Investment Management Services (Europe) Limited (“DMS”) is an authorized Alternative Investment Fund Manager (AIFM) and UCITS management company approved and regulated by the Central Bank of Ireland to provide AIFM and UCITS management company services in Ireland and Luxembourg. DMS Europe is headquartered in Ireland, with offices in London and Luxembourg to support our clients for European regulated products. In addition to platform and hosting solutions we can also offer solutions for MiFID and MiFID II.
Views: 163 DMS Governance
MiFID and AIFMD Compared: Overlapping Operating Conditions
Dechert's sixth seminar on AIFMD was held on 12 February 2013. In this segment, financial services partners Abigail Bell and Richard Frase discuss the operating conditions applicable to AIFMs as they overlap with existing obligations under MiFID, particularly regarding due diligence requirements.
Views: 1767 Dechert LLP
Summit priorities / Cross-border healthcare / Investment products
MEPs express deep frustrations ahead of Summit, advance laws to fight the fog over investment products and press the States to implement 2011 patients' rights directive. Comment on: Google + http://tinyurl.com/orh99s6 Facebook http://www.facebook.com/europeanparliament Twitter https://twitter.com/Europarl_EN EuroparlTV video ID: 79705fc3-6191-4690-a763-a260012ced3d
Views: 210 European Parliament
Fresh Perspectives: Understanding the opportunities in PSD2
Christian Schaefer, head of payments, corporate cash management at Deutsche Bank, tackles the complexities in the Payment Services Directive 2 and how banks can best position themselves to get the most out of the new regulatory environment.
Views: 4420 The Banker
WINDSOR Winner of CIPA International Investment Awards 2014
Windsor Brokers Ltd. is a European Investment Services Company based in Limassol, Cyprus, providing clients with the access to trade financial instruments such as margin Foreign Exchange, Futures (OTC) and CFDs. Windsor is licensed and regulated by The Cyprus Securities and Exchange Commission (CySEC) and EEA Authorized by The Financial Services Association UK (FSA). Windsor abides by the Markets in Financial Instruments Directive (MiFID).
Introducing the European Investment Advisory Hub
The European Investment Advisory Hub (http://www.eib.org/eiah) is Europe’s gateway to investment support! A joint initiative by the European Commission and the European Investment Bank under the Investment Plan for Europe, the Hub offers a single access point to a 360 degree offer of advisory and technical assistance services with the aim of strengthening Europe's investment and business environment.
Zoom In - Impact of MiFID II on the financial services industry | Focusing on the insurance sector
Deloitte podcast series "Zoom In" Impact of MiFID II on the financial services industry - Focusing on the investment management sector by Thierry FLAMAND, Anne-Sophie HUSSON Find more information on Deloitte.lu: http://www2.deloitte.com/lu/en/misc/litetopicpage.MF-LU-Tags.MiFID.html Our articles on the insurance sector: http://www2.deloitte.com/content/www/lu/en/pages/financial-services/topics/insurance.html
Views: 684 Deloitte Luxembourg
BREXIT: Don't leave it to the last minute
At this point probably nobody knows whether Brexit will occur or not or what form it may take. However, Scotstone's Brexit Solution is an immediate option for UK Fund Managers taking the present uncertainty worries away. Ian Hamilton, Chairman and Founder of Scotstone Group recommends fund managers, chief operations officers and chief financial offices not to leave their “Brexit strategy” to the last minute. Hamilton, who has over ten years experience operating from Malta and who also has set up and sold one of South Africa's leading fund administration companies, prefers the efficient route of setting up mirror funds to the more cumbersome re-domiciliation, which takes time and is both costly and disruptive to existing investors. Meanwhile, Scotstone's plug and play solution allows fund promoters to set up funds (AIFs, UCITS and Professional Investor Funds (PIFS)) as well as fund management services. This AIFMD-compliant solution applies to all current funds not domiciled in the EU and not only to UK managers. Malta’s comparative cost effectiveness versus Dublin and Luxembourg makes it a very advantageous jurisdiction. Scotstone will build out a Dublin based platform as well to broaden their offering. Ian Hamilton is Chairman and Founder at Scotstone Group. He was previously Founder and CEO of Investment Data Service Group, Africa's leading specialist third party investment administration group; Director: Alternative Investment Management Association, London; and Chairman: Alternative Investment Management Association (AIMA) SA Chapter, South Africa.
Views: 184 OpalesqueTV
What is DEPOSITORY BANK? What does DEPOSITORY BANK mean? DEPOSITORY BANK meaning & explanation
What is DEPOSITORY BANK? What does DEPOSITORY BANK mean? DEPOSITORY BANK meaning - DEPOSITORY BANK definition - DEPOSITORY BANK explanation. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. A depository bank (U.S. usage) or depositary bank (predominantly EU usage) is a specialist financial entity which, depending on jurisdiction, facilitates investment in securities markets. In the United States, a depository is a bank organized in the US which provides all the stock transfer and agency services in connection with a depositary receipt program. This function includes arranging for a custodian to accept deposits of ordinary shares, issuing the negotiable receipts which back up the shares, maintaining the register of holders to reflect all transfers and exchanges, and distributing dividends in U.S. dollars. In the EU, a depositary is a financial institution which provides fiduciary/custodian services to Investment Funds authorised to trade in any EU jurisdiction as a UCITS or Alternative Investment Fund. Both the UCITS (2009/65/EC) Directive and AIFMD (2011/61/EU) Directives require that authorised investment funds have a depositary appointed to the fund to safekeep the assets of the fund (whether by taking them into custody, or record-keeping and verifying title of them) and oversee the affairs of the fund to ensure that it complies with obligations outlined in relevant laws and the fund’s constitutional documents. Depositaries have been subject to significantly increased regulation in the EU in recent years and the proposed “UCITS V” directive proposes to continue this trend by imposing a standard “strict” standard of depositary liability for the loss of fund assets, other than in certain circumstances.
Views: 46 The Audiopedia
MiFID II – The Implications of Research Unbundling
In this 5 minute video, Mahesh Narayan, Head of Research at Thomson Reuters, discusses the research unbundling aspects of the MiFID II regulations with Emily Horler from Finextra. Mahesh outlines how he expects the research unbundling regulations to impact firms consuming investment research and how firms producing research might adapt their services. For more information go to: mifidii.tr.com
Views: 4805 Thomson Reuters
Anti-Money-Laundering, Counterterrorism Financing and Financial Crime
Anti-Money-Laundering, Counterterrorism Financing and Financial Crime: The Critical Role of Financial Institutions and How It Affects You Talk by Hue Dang ’92, Head of Asia for the Association of Certified Anti-Money-Laundering Specialists. Media coverage in the last several years of financial penalties against global banks such as BNP Paribas ($8.9 billion) or HSBC ($1.92 billion) for money-laundering and sanctions violations—to name just a few examples—highlights the increasing risks to banks as they conduct their normal business. We now live in an era of international money-laundering controls. The terrorist attacks of Sept. 11, 2001, revolutionized the anti-money-laundering (AML) field and brought into stark relief the threat of the movement and disguising of funds destined for the support of terrorism throughout the world, introducing a whole new effort to combat the financing of terrorism (CFT). As a result of the governmental reaction in virtually all countries, banks, non-bank financial institutions and nonfinancial businesses face tougher national and international legal requirements and harsher penalties than ever before. By the same token, the regulators of those businesses, law-enforcement agents and prosecutors also face greater challenges and responsibilities in their work. The discussion of what this means to you will include the economic and social consequences of money laundering; the latest regulatory developments in the U.S., Asia and Europe; challenges in effective AML/CFT implementation; and key lessons learned from recent cases. Presented by the Class of 1992.
Views: 32427 AmherstCollege
Link'n Learn - Remuneration (CRD, MiFID, AIFMD, UCITS)
Link'n Learn | Interactive access to Deloitte knowledge Led by Deloitte’s leading industry experts, Link’n Learn is series of webinars conducted over the course of the year, specifically designed to keep you up-to-date with today’s critical trends and the latest regulations impacting your business. The "Remuneration (CRD, MiFID, AIFMD, UCITS)" webinar agenda: - Key areas of focus for 2015 - Regulatory developments: - EBA guidelines on CRD IV - AIFMD - UCITS V - MiFID - Alignment of risk, reward and culture - Key themes in asset management remuneration The 2015 Link’n Learn programme: http://www2.deloitte.com/content/dam/Deloitte/lu/Documents/financial-services/IM/lu-linknlearn-programme-2015.pdf Find the previous webinars here: http://www2.deloitte.com/lu/en/pages/financial-services/solutions/link-n-learn-interactive-access-to-deloitte-knowledge.html
Views: 1397 Deloitte Luxembourg
Hedge Fund Administration
Contact us today for a free quote or fund startup help at 732-704-7297 or [email protected] Our suite of tailored services includes fund startup, accounting, valuation, compliance, reporting and tax services to investment managers in all strategies and structures. Investing is exciting; it's what you do. All those hedge fund administration support functions like operations, accounting, and reporting are necessary of course, but just one big headache that you likely have neither the staff or time to handle in house. You need hedge fund administration, someone who would do things the way you would accurately and in a timely manner. And whose reports would be clear, sophisticated, and represent you well to your investors -- a true extension of your firm. And at a cost that fits your budget. Tower Fund Services is a third party administrator that offers hedge fund investment managers everything they need including accounting, valuation, reporting, fund startup consulting and tax services. Our professionals have decades of experience in financial services. And along with our tech driven process you get high-touch personal service at a fraction of what you would expect to pay. For example, and this is typical, a manager at a large investment firm wanted to launch his own $12-million dollar hedge fund but felt thwarted by potential starup costs in excess of $100,000 dollars. Taking our advice on best practices to referrals to all the other service providers he'd need, he successfully launched for under $10,000. In today's competitive capital-raising environment and with ever-increasing regulatory scrutiny, independent oversight from a hedge fund administrator is a must-have -- a means of checks and balances. Depth of infrastructure gives investors the confidence that their assets are being protected. Hedge fund administration is the hub where all of your firms moving parts come together to make sure everything is moving smoothly from fund formations to your first trade to reporting to your investors. So if you prefer to focus on investing and actually partner with an administrator that is there for you and your clients, Tower is the right choice.
Views: 1534 Tower Fund Services
MiFID II – Changes to the Use of Investment Research
On 3 January 2018, Europe will see the update to The Markets in Financial Instruments Directive (MiFID II) come into force. What does it mean for asset managers and firms?
Views: 1378 BCA Research
What Is A Transferable Securities?
Transferable securities are those classes of investments which are negotiable on the capital market such as shares in companies and other investments equivalent to shares in companies, partnerships or other entities or capital return and interest investments known as bonds. Lts' offer a background to ucits v. Taiex workshop on mifid, directive 2001 108 ec has expanded this list beyond transferable securities to include also money market instruments, units of ucits and other collective 3 nov 2009 1 undertakings for investments in. 1 (8), of money market instruments under art. Is the underlying a financial index? an eligible asset? 1. Transferable securities definitions defined termundertakings for the collective investment of transferable securitiesscope financial instruments under mifid treatment to include also money market instruments, units ucits and other [pdf] complex non esma europa eu. Eligible assets for ucits(5) hcmc responsibilities legal framework international information disclosure template documents thematic fields mifid iimission and duties. 1 (9) and the list of authorised investments under collective investments in transferable securities are mutual funds are alternative for investment of available free cash funds. A security that can be transferred from one party holder to another without restrictions, provided all proper documentation is included definition of transferable securities. This is a wider definition than the of transferable securities under mifid. 18 nov 2011 as the ucits acronym suggests, its original focus was on investment in transferable securities although ucits do offer far wider investment (c) any other securities giving the right to acquire or sell any such transferable securities or giving rise to a cash settlement determined by reference to financial services and markets act 2000 (fsma), anything which is a transferable security for the purposes of the mifid other than money market instruments transferable security. The current eu legislation for investment funds transferable security? (4). Undertakings for collective investments in transferable securities undertakings investment liquid tradable wikipedia. Transferable securities include (a) shares in companies and security issued by public or private legal entities (for example, a company, the term 'transferable security' has been replaced financial instrument limited company that coordinates distribution management of unit trusts amongst countries within european union for purposes services markets act 2000, anything which is transferable treatment securities,forex transactions, contracts differences. Fibank collective investments in transferable securities. Transferable securities and money market instruments finance. Lts advantage over collective investment scheme. Cesr's advice on clarification of definitions concerning esma. Undertakings for collective investment in transferable securities. Mifid complex and non financial esma europa eu. Money mark
Views: 46 Shanell Kahl Tipz
What Is A Ucits?
In simple terms, a UCITS is a mutual fund based in the European Union. UCITS stands for “Undertakings for Collective Investment in Transferable Securities” and UCITS funds can be sold to any investor within the European Union under a harmonised regulatory regime. Transferable securities, commonly referred to as ucits, are collective investment schemes established and 25a ucits management company is a authorised under the european communities (undertakings for in transferable securities) an open ended fund accordance typically domiciled tax neutral jurisdictions such ireland or mutual funds introduction us asset managers i. Ucits investopedia the undertakings for collective investment of transferable securities (ucits) is a regulatory framework european commission that creates this podcast focuses on ucits brand and explains why type fund developed in europe has gained worldwide recognition over basics investing what fund? From alfi vimeo. Ucits and the rebirth of hedge funds kurtosys blog. The ucits brand is a renowned pan european investment product which principally designed for What fund? How do funds work? Undertakings collective in transferable securities what European commission. Since the early days, when european 25 oct 2016 ucits alternatives funds are attractive options for retail investors wanting hedge fund style investing in a more liquid, closely regulated format investment firm. The malta ucits investment funds ey. Ucits provides a single european regulatory framework for an investment 25ucits is the acronym undertakings collective in transferable securities. Ucits and investment techniques financial products that use (ucits) funds the undertakings for collective in transferable securities directive 2009 65 ec is a objective of original ucits 85 611 eec, adopted 1985, was to allow open ended investing 21 aug 2013 this podcast focuses on brand explains why type fund developed europe has gained worldwide 7 feb 2014 understanding ucitsluxembourg's legislation regulationluxembourg's alternative are not regulated at eu level by. Ucits definition from financial times lexicon. Basics of investing what is a ucits fund? Youtube. Basics of investing what is a ucits fund? Youtubecentral bank irelandeuropean mutual funds ey. A guide to ucits in ireland dillon eustace. Ucits investment firm fca handbook. Ucits high level of investor protection irish funds. Carne a5 ucits iv june 2014 4 dd carne group. Introduction and a brief history of ucits. The term refers back to eu directive 85 611 ce of 20 december, the creation ucits regime furthered eu's goal a single market for financial services in europe and provided highly effective mechanism both undertakings collective investment. A firm which (a) is a management company (whether or not it also the manager of aifs operator56 other collective investment services for aifm and ucits funds (undertakings in transferable securities) european malta technical guide. What is a ucits fund? How do investm
Views: 33 Shanell Kahl Tipz
EU Cybersecurity Directive presents challenges and opportunities for all | IG
With the EU directive on cyber security due for implementation next year, companies are under increasing pressure to ensure their systems are secure. However, as Neira Jones from Cognosec explains, data breaches present trading opportunities. Website: https://www.ig.com/uk?CHID=9&QPID=1414138388&QPPID=1 Twitter: https://twitter.com/IGcom Facebook: https://www.facebook.com/IGcom Google Play: https://play.google.com/store/apps/details?id=com.iggroup.android.cfd&hl=en_GB LinkedIn: https://www.linkedin.com/company/igcom Google +: https://plus.google.com/u/0/108999047065291192896 IG is a global leader in retail forex, providing fast and flexible access to over 10,000 financial markets – including indices, shares, forex, commodities . Established in 1974 as the world’s first financial spread betting firm, we are now the world’s No.1 provider of CFDs (Contract for Difference) and a global leader in forex. We also offer an execution-only share dealing service. All trading involves risk. Please take care to manage your exposure. The comments in this video do not constitute investment advice and IG accepts no responsibility for any use that may be made of them.
Views: 224 IG UK
Matheson Asset Management and Investments Funds Group
Matheson’s Asset Management and Investment Funds Group is the number one ranked funds law practice in Ireland, acting for 28% of Irish domiciled investment funds by assets under management as at 30 June 2014. We advise on asset management law and regulation, and fund products including undertakings for collective investment in transferable securities (UCITS); alternative investment funds (AIFs); money market funds; exchange traded funds (ETFs); manager platforms; private equity and property funds; and Shariah compliant UCITS and AIFs. We provide a comprehensive and professional service to our clients drawing on the considerable breadth and depth of expertise not only in our Asset Management and Investment Funds Group but also in our taxation, structured finance and commercial litigation departments. We act for the world’s leading institutional fund managers including 6 of the top 10 global promoters of Irish funds, 7 of the top 10 US asset managers and the world’s two largest asset managers. Our specialist team is led by 10 partners and comprises over 60 asset management and investment fund professionals in total. We have the strongest Irish law firm presence in the US through our offices in Palo Alto and New York, and the largest operation of any Irish law firm in London. We have dedicated asset management partners based in both our London and New York offices.
Views: 922 Matheson Law
Crack MiFID II In Under 30 Minutes
MiFID II is already enforced effective Jan 2018. Prime your Executive and Project teams with a quick and effective understanding of MiFID Ii rights, obligations and controls to expedite your compliance journey. Expose them to investment services, client classification, fair and efficient execution, trading venues classification and much more. ​ Enrol through the following link: https://transactions.sendowl.com/orders/27795224/56e6d6a30accc8f3a7a7131e6ef6ff76/1
ManCo - Spotlight on UCITS V Directive
The recent amendments on UCITS V Directive are impacting the overall UCITS framework and and first aim at aligning it with the AIFM framework. Watch this video to understand more in depth the correlation between UCITS V, depositaries and Management Companies. This video is for informational purposes only, it is not intended to provide, and should not be relied upon, for any kind of advice. Viewers should consult legal, tax and/or accounting advisors before engaging in any transaction.
Views: 597 PwC Luxembourg
PRi in Person 2017 - Responsible investment regulation: its growth and its critics
The PRI identifies over 300 policy instruments across the world's 50 largest economies that either encourage or require responsible investment, half of which have been introduced since 2014. The trend is towards regulatory frameworks that make explicit reference to ESG incorporation. This session will include policymaker and investor reflections on: The growth in responsible investment regulation Examples of regulation, including the IORP II Directive, the Japanese stewardship code and the US Financial CHOICE Act Future policy frameworks for sustainable development Niall Bohan, Head of Unit, Capital Markets Union, European Commission Amy Borrus, Deputy Director, Council of Institutional Investors Nathan Fabian, Director of Policy & Research, PRI Amane Fujimoto, Deputy Director, Corporate Accounting and Disclosure Division, Financial Services Agency (Japan) Curtis Ravenel, Global Head, Sustainable Business & Finance, Bloomberg Jen Sisson, Senior Investor Engagement Manager, Financial Reporting Council (UK) Moderated by Will Martindale, Head of Policy, PRI
Views: 275 PRI
The Jacobs Journey Plan
In this video, filmed at Towers Watson’s ‘Punch above your weight’ event in London in February, Leon Power talks about The Jacobs Journey Plan and the benefits of delegated investment services. For more information, visit: http://www.towerswatson.com/en-GB/Services/your-business-issues/balanced-retirement-strategy
ZoomTrader Review - How I Make $500 in 1 Hour with ZoomTrader
Free $100 Account: http://2by.us/zoomtrader If you are from USA, please open FREE $100 account here: http://2by.us/usa Regulation and compliance[edit] On non-regulated platforms, clients’ money is not necessarily kept in a trust account, as required by government financial regulation, and transactions are not monitored by a third party to ensure fair play.[4] On May 3, 2012, the Cyprus Securities and Exchange Commission (CySEC) announced a policy change regarding the classification of binary options as financial instruments. The effect is that binary options platforms operating in Cyprus (where many of the platforms are based) will have to be CySEC regulated within six months of the date of the announcement. CySEC was the first EU MiFID-member regulator to treat binary options as financial instruments.[5] On 7 January 2013, Banc De Binary became the first licensed binary option firm recognized as an investment firm by the Cyprus Securities and Exchange Commission (CySEC). In March 2013, Malta's Financial Services Authority announced that Binary options regulation would be transferred away from Malta's Lottery and Gaming Authority.[6] On the 18th June 2013, Malta’s Financial Services Authority confirmed that in their view binary options fell under the scope of the Markets In Financial Instruments Directive (MiFID),2004/39/EC. With this announcement Malta became the second EU jurisdiction to regulate binary options as a financial instrument, providers will now have to gain a category 3 Investment Services licence and conform to MiFID's minimum capital requirements.[7] Prior to this announcement it had been possible for firms to operate from the jurisdiction provided the firm had a valid Lottery and Gaming Authority licence. https://www.youtube.com/watch?v=IY7DsDmYzHI For More: http://binaryoptionsdailyreview.com/ trading, lbinary, banc de binary, profit, make money, online, money, binary options
Views: 7261 Trading Profit
Explore instant payments and PSD2 with EY
Learn more about industry developments in payments, PSD2 and Open Banking in these insightful interviews with EYs leading payments advisors - Hamish Thomas, Jonathan Ryder and Colin Ryan
TopForex - Get more
TopForex provides comprehensive global investment services. Our effort is to offer our clients the opportunity to trade Forex and CFD’s. New investors will be greeted by a pleasant and user friendly interface of the xStation and MT4 platforms while more seasoned investors will find all the advanced interactive tools they are accustomed to. Topforex provides trading opportunities in a dynamic environment. TopForex priority is the safety of its clients. That is why we have conformed to high protection standards as applied by the European Markets in Financial Instruments Directive (MiFID) and the strict regulations of the Cyprus Securities and Exchange commission.
Views: 307 TOP FOREX
EU digital drive: free Wi-Fi and new rules on content
The European Parliament has approved a project called Wifi4EU - free Wi-Fi for up to 8,000 communities - to help drive Europe towards a digital single market and expand public services. The Culture and Education Committee also gave the green light for tighter rules for online content, to ensure wider access to European films, music and other cultural productions. The updating of the Audiovisual Services Directive also calls for stronger measures to protect youth from harmful online content.
Views: 464 EPP Group
EU Directive on Cross Border Healthcare affect the Medical Tourism Industry
The EU Directive on Cross-Border Healthcare was proposed in 2008, became law in 2011 and scheduled to be ratified by all European Member Staes on October 25th 2013.There is a lot of confusion in the Medical Tourism industry as to just what this Directive is. This webcast will clarify that, give an insight into the present position of the Directive and suggest the influence it may have on the Medical Tourism industry in Europe.