U.S., U.K. and Offshore Regulators Share Views on Cybersecurity, AML, AIFMD, Advertising and Liquidity Issues Affecting Hedge Fund Managers (Part Two of Two)

As hedge fund managers find themselves scrutinized by numerous regulators, it is important for them to understand those regulators’ views and priorities with respect to issues including cybersecurity, anti-money laundering, the Alternative Investment Fund Managers Directive, advertising and liquidity. These topics were addressed during a Global Regulatory Briefing presented by the Hedge Fund Association, featuring Emma Bailey, Director of the Investment Supervision and Policy Division of the Guernsey Financial Services Commission; Jennifer A. Duggins, Co-Head of the Private Funds Unit in the SEC Office of Compliance Inspections and Examinations; Garth Ebanks, Deputy Head of the Investments and Securities Division of the Cayman Islands Monetary Authority; Ifor Hughes, Assistant Director of Policy in the Policy, Legal and Enforcement department of the Bermuda Monetary Authority; and Robert Taylor, Head of the Investment Management Department at the U.K. Financial Conduct Authority. This second article in a two-part series highlights the panelists’ key insights on these topics. The first article recapped the speakers’ commentary on fund regulation in their respective jurisdictions, cooperation among regulators and whether hedge fund regulation is sufficient to address fraud. For more on the regulatory approach to these issues, see “FCA 2016-2017 Regulatory and Supervisory Priorities Include Focus on AML, Cybersecurity and Governance” (Apr. 14, 2016); and “Luxembourg Financial Regulator Issues Guidance on AIFMD Marketing and Reverse Solicitation” (Sep. 3, 2015).

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