Update on disclosure reforms
Disclosure benchmarks in the retail investment sector continue to rise as the Australian Securities and Investments Commission (ASIC) remains focused on ensuring investors are not misled by lengthy disclosure documents when making investment decisions. Here we provide a brief update on disclosure reforms relating to hedge funds and other retail-structured products that are deemed to be complex.
ASIC have established disclosure guidelines for nearly every type of retail investment product, yet the regulator and industry remain in debate over how and when to apply greater disclosure standards for hedge funds, also know as ‘absolute return’ funds that use much more complex investment strategies than traditional managed funds.
ASIC currently defines a hedge fund as a registered managed investment scheme that is promoted as being a ‘hedge fund’, or exhibits two or more of the following characteristics of a hedge fund: complexity of investment strategy or structure, use of debt, use of derivatives (subject to limited carve-outs), use of short selling, or has rights to charge a performance fee…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
News from Allen & Overy
News from The Lawyer
Briefings from Allen & Overy
The ITC has reaffirmed its power to ban electronic transmissions from the US where those transmissions infringe an intellectual property right or are otherwise based on an unfair trade practice.
A new French law, the ‘Law to recapture the real economy’ (‘Loi visant à reconquérir l’économie réelle’ or ‘Loi Florange’), was made on 1 April 2014.
Analysis from The Lawyer
Imagine you’re the general counsel of London-based private equity investor BC Partners. You’re sipping on your coffee, hashing out the details of your imminent £382m investment into UK-based business publishing company Mergermarket.
‘Exotic’ investors and opportunities for legal work beyond M&A feature in The Lawyer’s high-level roundtable debate on south-east Europe