Legal & Regulation

Dechert’s Declan O’Sullivan and Conor Durkin outline recent changes in revenue practice under which Irish funds may obtain an exemption from the Irish Revenue Commissioners making it easier for investors to subscribe for shares/units in an Irish fund. »

Guernsey’s government plans to give financial institutions a window from 1 January 2011 to 1 July 2011 for moving to automatic exchange of information. »

Law firm Pillsbury says hedge funds should be aware that substantially increasing their long positions in exchange-traded funds could result in a violation of the ownership limit set forth in the Investment Company Act of 1940. »

Ozannes and Mourant du Feu & Jeune, two offshore law firms, have merged to create Mourant Ozannes. »

The International Organization of Securities Commissions has published a set of principles regarding cross-border supervisory cooperation developed by its technical committee’s task force on supervisory cooperation. »

In response to the market disruption of 6 May, the SEC and the Financial Industry Regulatory Authority (FINRA) are proposing new rules under which they would pause trading in certain individual stocks if the price moves 10 per cent or more in a five-minute period. »

Law firms Hogan & Hartson and Lovells and completed the combination of their two firms. »

Law firm Akin Gump Strauss Hauer & Feld will open an office in Geneva on 1 May 2010, expanding its international footprint further into Western Europe.  »

Jérôme de Lavenère Lussan, CEO of hedge fund consultancy Laven Partners, comments on the UK Financial Services Authority’s first operation carried out with the Serious Organised Crime Agency (SOCA), resulting in the arrests this week of six men on suspicion of being involved in an insider dealing ring. »

Dr Richard Reid (pictured), director of research at the International Centre for Financial Regulation in London, says the controversy surrounding the role of credit default swaps in allegedly aggravating Greece’s fiscal problems illustrate differences between countries in Europe and beyond on the priorities for financial sector reforms. »