Journal of Investment Compliance最新文献

ESG litigation – how companies can get ready, respond and resolve claims ESG诉讼-公司如何准备、回应和解决索赔

Journal of Investment Compliance Pub Date : 2021-10-11 DOI: 10.1108/joic-07-2021-0032

T. Cummins, R. Hamid, Eleanor Reeves, Thomas Karalis, M. Harnett

引用次数: 0

Strengthening AML/CFT controls of digital payment token service providers in Singapore 加强对新加坡数字支付代币服务提供商的反洗钱/反恐融资控制

Journal of Investment Compliance Pub Date : 2021-09-29 DOI: 10.1108/joic-08-2021-0035

Tju Liang Chua

{"title":"Strengthening AML/CFT controls of digital payment token service providers in Singapore","authors":"Tju Liang Chua","doi":"10.1108/joic-08-2021-0035","DOIUrl":"https://doi.org/10.1108/joic-08-2021-0035","url":null,"abstract":"\u0000Purpose\u0000To raise awareness of money laundering and terrorism financing (ML/TF) controls and regulations in Singapore for digital payment token (DPT) service providers.\u0000\u0000\u0000Design/methodology/approach\u0000This article summarizes the key points in the guidance infographic published by the Monetary Authority of Singapore on strengthening the AML/CFT controls of DPT service providers (Infographic). In line with the Infographic, these points pertain to: (1) recent developments in the Financial Action Task Force (FATF) Standards; (2) ML/TF risks in the DPT sector; and (3) an overview of MAS’ measures to address such risks, which include (i) licensing and supervision; (ii) AML/CFT notice and guidelines; and (iii) surveillance.\u0000\u0000\u0000Findings\u0000To combat illicit activities in Singapore’s DPT sector, the MAS has introduced AML/CFT measures that are aligned with the FATF Standards. DPT service providers should be cognizant of these regulations in developing their own internal measures.\u0000\u0000\u0000Originality/value\u0000Practical guidance from experienced lawyers in the Technology Transactions and Financial Services Regulatory & Enforcement practices.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127012586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Understanding regulatory trends: digital assets & anti-Money laundering 了解监管趋势:数字资产和反洗钱

Journal of Investment Compliance Pub Date : 2021-09-27 DOI: 10.1108/joic-07-2021-0033

Katherine Kirkptrick, Aaron Stevens, Jacob M. Gerber, Margaret Nettesheim, Sebastian Bellm

{"title":"Understanding regulatory trends: digital assets & anti-Money laundering","authors":"Katherine Kirkptrick, Aaron Stevens, Jacob M. Gerber, Margaret Nettesheim, Sebastian Bellm","doi":"10.1108/joic-07-2021-0033","DOIUrl":"https://doi.org/10.1108/joic-07-2021-0033","url":null,"abstract":"\u0000Purpose\u0000To evaluate the global anti-money laundering regulation of digital assets and cryptocurrencies.\u0000\u0000\u0000Design/methodology/approach\u0000This article provides an analysis of macro trends in digital asset money laundering regulation and explores the regulatory frameworks in some of the leading international crypto markets.\u0000\u0000\u0000Findings\u0000As the popularity and public adoption of digital assets have grown, global regulators have turned their attention to the risks of anti-money laundering. Monitoring the evolving international regulatory landscape is essential for organizations looking to successfully take advantage of digital asset-related investment opportunities.\u0000\u0000\u0000Practical implications\u0000Market participants should understand all applicable laws and procedures before they decide to enter the digital asset market. These considerations can become even more complex as businesses interact with multiple international regulators.\u0000\u0000\u0000Originality/value\u0000This article is designed to help investors understand the global anti-money laundering regulatory landscape regarding digital assets, particularly for those institutions interested in diversifying with crypto-related investment opportunities.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132551153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

“Racing” to the IBOR transition finish line 向IBOR过渡终点线“赛跑”

Journal of Investment Compliance Pub Date : 2021-09-23 DOI: 10.1108/joic-08-2021-0037

J. P. Forrester, Mary Jo N. Miller

{"title":"“Racing” to the IBOR transition finish line","authors":"J. P. Forrester, Mary Jo N. Miller","doi":"10.1108/joic-08-2021-0037","DOIUrl":"https://doi.org/10.1108/joic-08-2021-0037","url":null,"abstract":"\u0000Purpose\u0000Summarize and review the key developments during 2021 relating to transition of the London InterBank Offered Rate (LIBOR) to alternative risk-free rates, in accordance with the guidance of global regulators and market participants.\u0000\u0000\u0000Design/methodology/approach\u0000Outlines and explains four key events to date during 2021 that are instrumental to the success of LIBOR transition, including the ISDA 2020 IBOR Protocol and Supplement, the 5 March 2021 announcements by ICE Benchmark Administration and the Financial Conduct Authority, the transition of interdealer swap conventions from LIBOR to SOFR, and the ARRC endorsement of the CME Group SOFR term rate.\u0000\u0000\u0000Findings\u0000The global adherence to the ISDA Protocol and Supplement, the successful launch of “SOFR First” and other “RFR First” swaps convention transitions, and the ARRC’s endorsement of CME’s SOFR term rate have given the market the clarity and tools that it needs to complete the transition away from LIBOR by the deadlines fixed by the 5 March 2021 benchmark transition event.\u0000\u0000\u0000Practical implications\u0000It now is clear that market participants globally have the resources to, and must, move to adopt alternative reference rates and related operational systems and other infrastructure to cease origination of new LIBOR-linked contracts after 31 December 2021. The ARRC’s endorsement of the SOFR term rate for business loans and related derivatives and securitizations is a critical positive development for the structured finance market.\u0000\u0000\u0000Originality/value\u0000Expert analysis and guidance from experienced finance lawyers.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121091107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Structuring and financing private equity and venture capital transactions in Luxembourg 在卢森堡为私募股权和风险资本交易提供结构和融资

Journal of Investment Compliance Pub Date : 2021-09-06 DOI: 10.1108/joic-07-2021-0034

Bertrand Géradin

{"title":"Structuring and financing private equity and venture capital transactions in Luxembourg","authors":"Bertrand Géradin","doi":"10.1108/joic-07-2021-0034","DOIUrl":"https://doi.org/10.1108/joic-07-2021-0034","url":null,"abstract":"\u0000Purpose\u0000Luxembourg is the jurisdiction of choice for many private equity and venture capital investors/funds. Though the optimum balance of financing instruments in relation to any structure varies according to its particular circumstances, one factor that all Luxembourg domiciled FDI structures have in common is the requirement for an appropriate level of equity investment. This article intends to summarize some of the topics frequently encountered in relation to equity structuring choices.\u0000\u0000\u0000Design/methodology/approach\u0000Author details the different steps and choices available to investors and funds. The article offers answers to questions to provide a broad, yet detailed, overview of the process and journey; from selecting the vehicle right through to distributing to investors, governance, and compliance.\u0000\u0000\u0000Findings\u0000To avoid an expensive mistake, it is paramount that the private equity or venture capital investors and management team receive detailed advice to ensure: (i) the deal is structured in the most tax efficient manner possible and the commercial deal is suitable for all parties, and (ii) the deal is structured in a manner which is effective under Luxembourg law, for both tax and legal purposes.\u0000\u0000\u0000Practical implications\u0000It is important that non-Luxembourg lawyers are able to identify key issues when negotiating the terms of the investment documents, in particular, the articles of association and shareholders' agreement.\u0000\u0000\u0000Originality/value\u0000Practical guidance from Luxembourg lawyer specializing in corporate law, mergers and acquisitions, venture capital and private equity transactions.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128292821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

LIBOR transition: challenges for Islamic finance transactions LIBOR转型:伊斯兰金融交易的挑战

Journal of Investment Compliance Pub Date : 2021-08-02 DOI: 10.1108/joic-06-2021-0029

Jawad Ali, Michael B. Rainey, Asal Saghari

{"title":"LIBOR transition: challenges for Islamic finance transactions","authors":"Jawad Ali, Michael B. Rainey, Asal Saghari","doi":"10.1108/joic-06-2021-0029","DOIUrl":"https://doi.org/10.1108/joic-06-2021-0029","url":null,"abstract":"\u0000Purpose\u0000To examine the implications of the cessation of LIBOR in the context of Islamic finance transactions and to suggest potential solutions for the Shari’ah-compliant use of near risk-free reference rates (RFRs) in such transactions.\u0000\u0000\u0000Design/methodology/approach\u0000Provides an overview of the main regulatory changes by the UK’s Financial Conduct Authority (FCA) to LIBOR, a review of the key details regarding the cessation of LIBOR and specific risk factors, a discussion of core concepts of Islamic finance and the unique challenges that the models face considering the LIBOR reforms, and an outline of several innovative solutions that can be utilized by organizations and institutions to overcome the potential complexities of the LIBOR reforms.\u0000\u0000\u0000Findings\u0000The financing component of a seller’s profit margin in a murabaha transaction may be calculated using LIBOR, a forward-looking rate. LIBOR as a financing rate benchmark is being replaced by RFRs, which are backward-looking rates. A possible way to use RFRs in a murabaha transaction might be to recalculate the seller’s profit margin depending on actual RFRs during the financing period with the seller offering appropriate rebates to the buyer.\u0000\u0000\u0000Originality/value\u0000Expert guidance from experienced corporate, financing, investment, and Islamic financing lawyers.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132837416","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

SEC’s disclosure effectiveness initiative reshapes MD&A disclosure requirements 美国证券交易委员会的披露有效性倡议重塑了并购披露要求

Journal of Investment Compliance Pub Date : 2021-08-02 DOI: 10.1108/JOIC-06-2021-0027

Richard J. Parrino

引用次数: 0

The future of SEC enforcement under the Biden administration 拜登政府下证交会执法的未来

Journal of Investment Compliance Pub Date : 2021-08-02 DOI: 10.1108/joic-06-2021-0030

J. J. Carney, Jonathan R. Barr, Teresa Goody Guillén, Jimmy Fokas, Kevin R. Edgar, Michelle Tanney, Bari Nadworthy, Madison Gaudreau

{"title":"The future of SEC enforcement under the Biden administration","authors":"J. J. Carney, Jonathan R. Barr, Teresa Goody Guillén, Jimmy Fokas, Kevin R. Edgar, Michelle Tanney, Bari Nadworthy, Madison Gaudreau","doi":"10.1108/joic-06-2021-0030","DOIUrl":"https://doi.org/10.1108/joic-06-2021-0030","url":null,"abstract":"\u0000Purpose\u0000To examine what to expect from Chair Gary Gensler’s SEC and the new Biden presidential administration following Chair Gensler’s U.S. Senate confirmation on April 14, 2021.\u0000\u0000\u0000Design/methodology/approach\u0000Reviews past SEC Chair Jay Clayton’s legacy and Chair Gensler’s prior regulatory actions and focus, and outlines Chair Gensler’s expected initiatives, including a heightened focus on cryptocurrency regulation, investigation of COVID-19-related fraud, and ESG and climate change disclosure.\u0000\u0000\u0000Findings\u0000This change will bring forth a Democratic majority at the SEC which, in turn, suggests that the Commission will change its current emphasis on capital formation to focus more on investor protection, rules required by the Dodd-Frank Act, inspections, examinations, and enforcement\u0000\u0000\u0000Practical implications\u0000Firms should examine their compliance programs in anticipation of heightened advocacy for investor protection; an increased focus on cryptocurrency and blockchain technology, as well as ESG disclosures with an emphasis on climate change; and an increase in inspections and examinations which will drive more enforcement in the fund industry, as well as increases in initiatives regarding transparency, additional disclosures, and investor protection. Organizations will also benefit by reexamining their existing compliance programs with the advice of counsel as a mechanism to mitigate the risk of potential securities laws violations.\u0000\u0000\u0000Originality/value\u0000Practical guidance from experienced securities enforcement and litigation lawyers.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125995976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Hong Kong SFC releases new FAQs on external electronic data storage 香港证监会发布有关外部电子数据储存的新常见问题解答

Journal of Investment Compliance Pub Date : 2021-07-27 DOI: 10.1108/joic-04-2021-0014

Rolfe Hayden, Helen Fok

{"title":"Hong Kong SFC releases new FAQs on external electronic data storage","authors":"Rolfe Hayden, Helen Fok","doi":"10.1108/joic-04-2021-0014","DOIUrl":"https://doi.org/10.1108/joic-04-2021-0014","url":null,"abstract":"\u0000Purpose\u0000To explain the Securities anld Futures Commission of Hong Kong’s new FAQs on external electronic data storage.\u0000\u0000\u0000Design/methodology/approach\u0000The article analyses the existing legal and regulatory requirements relating to the keeping of records as well as the circular and FAQs on the use of external electronic data storage. It also discusses the practical implications of the newly added FAQs.\u0000\u0000\u0000Findings\u0000The SFC has relaxed the requirement as regards the appointment of two Managers-In-Charge in Hong Kong for the purposes of the circular on the use of external electronic data storage. The SFC has offered more flexibility with respect to the undertaking by electronic data storage providers in the FAQs. The FAQs have also provided more certainty with respect to the approval requirements pursuant to section 130 of the SFO where non-Hong Kong affiliates are concerned.\u0000\u0000\u0000Practical implications\u0000The additional guidance from the SFC regarding external electronic data storage in the form of the new FAQs shows a helpful clarification in the SFC’s approach on the practical implementation of the relevant requirements under the circular on the use of external electronic data storage.\u0000\u0000\u0000Originality/value\u0000The article offers practical guidance in respect of the implications of the newly added FAQs on the external electronic data storage regime from experienced financial services and asset management lawyers.\u0000","PeriodicalId":399186,"journal":{"name":"Journal of Investment Compliance","volume":"2675 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117317539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Guernsey as an investment funds domicile: benefits and regulations 根西岛作为投资基金的注册地:好处和法规

Journal of Investment Compliance Pub Date : 2021-07-27 DOI: 10.1108/joic-05-2021-0025

Annette Alexander, C. Andersen, A. Boyce, Tom Carey, David Crosland, Tony Lane, Ben Morgan

引用次数: 0