Waystone: Recent Episodes
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Waystone are delighted to share with you its up to date pod cast sessions. Please subscribe to listen to our latest interviews, team spotlights and updates to the global regulatory landscape and how Waystone can help.
Join Waystone and Aurifer for an insightful discussion where they will delve into the latest financial regulatory and tax updates impacting Financial services businesses in the UAE.
Curious about setting up a business or growing in the UK? In partnership with AIMA, please join us for a comprehensive session where we delve into the key reasons and practical strategies for setting up and growing your business in the UK.Whether you’re a budding entrepreneur or an established business looking to expand, this session aims to equip you with the knowledge and insights needed to navigate the process successfully.
Our team of experts delve into the world of Exchange-Traded Funds (ETFs) and discusses the findings of the comprehensive report by Oliver Wyman commissioned by Waystone, titled "The Renaissance of ETFs."
The panel examines the growth trends of the ETF industry as well as the factors driving its rapid expansion.
Stay informed about the latest regulatory updates and their potential impact on your business. Our expert panel discusses the recent developments in Cayman’s private fund governance landscape, providing valuable insights into what these changes entail and how they may affect your operations. Additionally, we delve into the potential risks associated with non-compliance, ensuring you are well-equipped to navigate the evolving regulatory environment effectively.
Don’t miss this opportunity to gain crucial knowledge and practical guidance from industry specialists, as we strive to provide you with the necessary knowledge to navigate the compliance landscape and ensure your business’s continued success.
Are you considering getting authorised in the UK? This webinar focuses on US investment firms that are thinking of setting up in the UK and so will need authorisation by the Financial Conduct Authority. Waystone walks through the FCA authorisation process, the requirements, the challenges and the strategies that make for a successful application.
This discussion was led by Stuart Holman, one of Waystone’s Managing Directors, who, along with his team, has 25 years’ experience assisting firms to obtain authorisation. Listen to learn practical information and advice on how to prepare a successful application for authorisation.
A discussion regarding how the proposed cyber rules will impact your advisory business.
The SEC has proposed cyber security rules impacting investment advisory businesses. The proposed rules would require investment advisers to implement a comprehensive cyber security program, including policies and procedures to identify, assess and mitigate cyber security risks.
This webinar covers the key requirements, implementing a cyber security program and incident reporting to the SEC. This discussion is led by a panel of experienced experts in cyber security and investment advisory compliance.
Understanding what is required by CIMA and the DITC can help mitigate adverse regulatory inspection outcomes.
Our subject matter experts breakdown which internal controls are applicable to the SIB registered managers, how to test the controls, identify what policies and procedure are required and summarise the best practices to ensure compliance with the CIMA rules and guidance notes.
If your firm is considering becoming directly authorised by the FCA during 2023, listen to our virtual FCA authorisation clinic. The clinic focused on firms that operate within the wholesale investment business market and was aimed at firms that are currently operating under the umbrella of an appointed representative arrangement that are interested in obtaining direct authorisation.
For managers marketing funds across multiple jurisdictions, it can be a challenge to navigate the needs of different regulators and investors. In this podcast, our international and cross-jurisdictional panel of ESG experts will provide insights regarding regulatory and investor priorities in 2023.
In this podcast, our experts discuss the latest developments and current trends on AML regulations for investment funds and bring insights from a wide range of perspectives including administrators, AML officers and auditors.
The Cayman Tax Information Authority (TIA) recently released its CRS enforcement guidelines outlining the circumstances under which financial institutions could face penalties for failing to comply with the Common Reporting Standard (CRS).
It also outlined the process by which financial institutions would be notified of penalties, and the notice and appeals process by which they may contest penalty imposition. Listen to find out more about the latest enforcement guidelines and the latest updates in relation to FATCA and CRS from our in-house experts.
The Cayman Tax Information Authority (TIA) recently released its CRS enforcement guidelines outlining the circumstances under which financial institutions could face penalties for failing to comply with the Common Reporting Standard (CRS).
It also outlined the process by which financial institutions would be notified of penalties, and the notice and appeals process by which they may contest penalty imposition. Find out more about the latest enforcement guidelines and the latest updates in relation to FATCA and CRS from our in-house experts.
Moderator:
Elaine Chow
Panelists:
Roman Ipfling
Michelle Chan
Waystone is proud signatories of the UN PRI and were delighted to be partnering with the UN PRI for a webinar where the UN PRI provided a brief presentation of the principles and what is expected from signatories to the PRI.
The presentation is followed by a discussion around the practical implication of incorporating responsible investing across a range of strategies, investor priorities and the evolving regulatory landscape.
Please join Suzanna Ballabás, Senior Advisor and Head of Data Protection UAE, together with Sayid Madar, Head of Operations for the Office of the Data Protection Commissioner and Lori Baker, VP, Legal and Director of Data Protection, Office of the Commissioner of Data Protection as they discussed data protection developments in the Middle East, who it applies to, how to comply and the more complex matters of data transfer.
Join Waystone’s Neil Coxhead and Robin Callander, together with Lora Froud of MacFarlanes and Peter Ball of Bishop Fleming as they discussed a range of topics including:
- investment options and structuring
- tax profiling of family investment funds
- creation of a single-family counsel
- the role of the Authorised Corporate Director (ACD) and the importance of the Assessment of Value reporting to families.
Our experts provide an overview of evolving regulatory landscape in relation to AML/KYC as well as discussing the latest industry trends and practices for Asia based managers to best adhere with global and local standards through digital onboarding and outsourcing.
Find out what has been happening in the fund governance space for Cayman registered funds. What are the latest regulatory implications that might impact your next fund launch and what are the current trends our independent directors are seeing that might affect your portfolio.
On 9 February 2022, the SEC voted to propose rules related to cyber security risk management for registered investment advisers and registered investment companies in a clear signal that firms who are not prepared to address cybersecurity risks will need to take action.
On 9 February 2022, the SEC proposed five new rules and amendments intended to enhance the regulation of private fund advisers that could have a material impact on registered and unregistered investment managers.
Please join Waystone and our colleague at Titan, a Waystone Group Company as they review what late stage venture capital funds should consider when registering with the SEC when becoming an RIA, how to prepare for SEC examinations and what operational considerations need to be taken into account.
Waystone and its colleagues at CCL Compliance, a Waystone Group Company, review the UK Investment Firm Prudential Regime (IFPR) which will come into effect on January 1, 2022. This will have a significant impact on UK MiFID investment firms who are authorised and regulated by the FCA that are currently subject to any part of the Capital Requirements Directive (CRD) and the Capital Requirements Regulation (CRR) including Investment Firms that are currently subject to BIPRU and GENPRU including:
Matched Principal Firms
Firms conducting combination of MiFID with UCITS & AIFMD activities categorised as CPMIs (Collective Portfolio Management Investment Firms)
Firms currently authorised as Exempt-CAD firms
Full scope’, ‘limited activity’ and ‘limited licence’ investment firms currently subject to IFPRU and CRR (MTF & OTF)
Listen to our prudential specialist to help you simplify and navigate these requirements, as well as providing advice on what analysis required to address them.
Waystone was pleased to be hosting a webinar together with its friends at Argus Global, Simmons & Simmons and BNP Paribas on assisting asset managers looking to set-up a VCC in Singapore.
To understand the advantages of the VCC structure and the regulatory/licensing requirements in more details, please join us along with industry expert from the MAS for this webinar, followed by Q & A.
Panellists
- Nithi Genesan, Argus Global
- Jek-Aun Long, Partner, Simmons & Simmons
- Manoj Shetty, VP, Institutional Sales, BNP Paribas Securities Services
- Mriganko Mukerjee, Partner, Ernest & Young
Moderated by
- Connie Wong, Waystone
Further to our communication in June, when we welcomed Argus Global, Singapore to the Waystone Group of Companies, we took the opportunity of introducing the Argus team to our clients and friends at Waystone and provided further detail on how they can assist your firm with its regulatory compliance as well as getting to set up in Singapore.
Topics included:
- The various types of compliance support available
- Assistance with internal audit and training
- Risk management
- AML and KYC
Institutional provider of governance, risk and compliance services. Waystone is the leading provider of institutional governance, risk and compliance services to the asset management industry and Argus Global is delighted to have become part of the Waystone Group of Companies!
Partnering institutional investors, investment funds and asset managers Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now supporting asset managers with more than US$1Tn in AUM.
Further to our recent communication in June of this year, regarding the creation of Waystone Compliance Services and Argus Global becoming a Waystone Group Company, we wanted to take the opportunity to introduce our clients and friends to some of the key team members at Waystone and provide some more information to you on the services that they can provide.
Panellists:
- Don Ebanks, Waystone
- Padraic Durkan, Waystone
Moderated by:
- Connie Wong, Waystone
- Nithi Genesan, Argus
Further to our communication in June when we welcomed Argus Global, Singapore to the Waystone Group of Companies, we took the opportunity of introducing the Argus team to our clients and friends at Waystone and provided further details on how they can assist with Singapore regulatory compliance as well as getting set up in Singapore.
Are you a regulated fund manager looking to get setup in Singapore and take advantage of its jurisdictional advantages? Find out how Argus Global can help make this process a seamless one for you by taking care of the various licensing and regulatory requirements, creation of necessary policies and procures and outsourced compliance services.
The CBI, together with the EU and international regulators, has recently placed an increased focus on cyber security requirements meaning that fund boards must now ensure that they are well equipped to manage a wide range of cyber security issues.
In a direct response, Waystone has established a dedicated Cyber Security Solution. Together with ISAS, a Waystone Group Company, we are now able to offer our clients a best-in-class cyber security offering. We know that board members are not cyber security experts, and we are able to offer them the assistance they need to meet their current obligations.
Please join us for a webinar as we discuss the reasons for, and implications of, an increase in cybercrime, our response to it and our best-in-class service offering.
Introducing ISAS – a Waystone Group Company
With over 75 years of combined Information Security and Data Protection experience, ISAS currently offers advisory services to C-Suite and board level, with a focus on cyber, information security and data protection issues. ISAS services are focused on helping clients assess information security threats, identify weaknesses, implement a sustainable and pragmatic programme of Information Security improvements and embed a security culture within an organisation. ISAS was the one of the first companies in Ireland to receive ISO 27701, the international standard for privacy information management in relation to GDPR and the Data Protection Act.
Working alongside large corporate organisations and within the public sector, ISAS has been pivotal over the past year in the work it has carried out with Ireland’s HSE, on the acceptance of the Irish COVID Tracker app. ISAS’ role focused on data protection and security with its work on the project being recognised as an InfoSec first within the industry. The high take-up rate of the app, that is largely recognised globally as the gold standard, is a reflection of industry and public confidence in the work carried out by ISAS.
To find out more about ISAS, a Waystone Group Company and its Cyber Security Offering and to hear more from our cyber security professionals, listen to our podcast:
Join our team of seasoned specialists as they provided the latest updates to The International Co-operation (Economic Substance Law) Act, to include the latest ES Reporting Deadlines together with the most recent updates given by the Cayman Islands Department for International Tax Cooperation ("DITC")
Please join Waystone and Arendt as they provide to you the most common legal forms and structures for private assets, the role and responsibilities of an Alternative Investment Fund Manager (“AIFM”) as well as the ongoing operational and regulatory reporting requirements.
Please join our panelists for a lively discussion on crossover funds and why the sudden resurgence of them. Moderated by Matthew Brown, topics will focus on what the structuring considerations are for new and existing funds, operational considerations and participation in illiquid opportunities.
Please join our panelists as they discuss the current trends affecting managers relating to ODD and ESG and how to navigate them.
Please join our team of industry experts as they discussed the latest updates and developments as it relates to Cayman AML and International Tax Compliance. They covered the latest filing deadlines and requirements together with what managers need to know for AML and ITC audits and what they should consider for the newly implemented CRS compliance forms.
Panelists:
Roman Ipfling
Josephine Barron
Luqman Hamdani
If you missed our webinar last month featuring Jason Poonoosamy, CFA from our Dublin operation with our friends from Foley & Lardner LLP & Dillon Eustace listen again here, where the panelists provided the latest updates on recent implications of the Irish ILP together with answering specific questions received from the audience.
Watch our Executive team as they introduce our new brand, Waystone, formed following the coming together of DMS, MDO and MontLake to create the leading provider of governance, risk and compliance services to the asset management industry.
Our speakers Neil Coxhead, Andrew Berry and Kenneth Sim from our London operation were pleased to update listeners on the following:
- The Waystone story and its business lines
- Distribution Solutions
- The ACD market and the Waystone proposition
- Supporting the growth of UK funds, including the new LTAF
Please join Waystone and Arendt as they provided to our APAC audience the latest framework and requirements for setting up Luxembourg based funds.
欢迎出席 Waystone 和 Arendt 联合举办的线上研讨会，会议将为您介绍在卢森堡设立基金的最新架构和要求。
Please join our team of industry experts to learn more about the latest updates in the Cayman Islands and how we can help you navigate the complex regulatory requirements seamlessly.
In March of 2021, the EU will introduce its first major regulatory initiative within ESG investing – The Sustainable Finance Disclosure Regulation (SFDR). To help Investment Managers prepare for this and get to grips with the requirements and deadline, we held a webinar hosted by our team of European industry experts who discussed the practical implications of SFDR and provided a simple and effective solution to enable you to ensure full compliance with this significant development. They covered aspects such as key requirements, timings and what you should be doing NOW.
The International Tax Cooperation (Economic SubstanceAct) 2018 (the “ESA”) has recently seen an extension to the ES Reporting Deadlines and various other updates by the Cayman Islands Department for International Tax Cooperation (“DITC”). Join our team of fund and regulatory professionals as they discuss the latest updates, the extension to deadlines and the most recent enhancements to the DITC portal.
We were delighted to host a webinar with our friends at A&L Goodbody and KPMG to discuss the potential impact of interest limitation rules arising from ATAD on the aviation industry in Ireland including tax, legal structuring and its impact on aviation funds. Waystone together with its industry experts set out what you need to know and addresses many of the frequently asked questions that are being seen on the topic.
PANELISTS
Brian Brennan, Partner, KPMG
Seamus O Croinin, Partner, A&L Goodbody
David Morrissey, Managing Director, Waystone
MODERATOR
Frank Dowling, Managing Director, Waystone
The implications of COVID-19 have certainly made an impact on traditional operational due diligence in the hedge fund industry, and these changing trends are even more prominent now as we approach the last stages of the U.S. presidential race. Our panelists, made up of industry professionals, discussed what types of investor enquiries are currently being seen as well as providing more background regarding the changing trends to investor allocations, in the time of COVID-19.
Panelists:
Anne Storie, DMS Governance
Terence Brady, Corbin Capital
Debra Franzese, Seward & Kissel
Moderated by: David Goldstein
This week, the Central Bank of Ireland issued its letter which laid out its findings, now that the fund management companies (FMCs) thematic review has been finalized. This letter provides further guidance following various deficiencies that were highlighted during the 18 month review period. Conor MacGuinness, Global Head of Onboarding and Relationship Management at Waystone, shares our firm’s views on the findings of this letter.
We were pleased to be joined by James Kattan, Director and Head of Regulatory Compliance Services in the Cayman Islands. James provided listeners with further background regarding the requirements of the law and the ways in which funds can ensure that they are in compliance. Should you wish to find out more how DMS can help, please reach out to James directly following the podcast at jkattan@dmsgovernance.com.
Following DMS’ recent acquisition of Oligo Swiss Fund Services, the audience was informed more about our Swiss distribution offering. The focus of the webinar focused on the recent changes seen to the regulatory framework in Switzerland and what this means for distribution strategy and sales of Swiss funds.
The agenda included:
- Market perspective and appetite of Asia managers who wish to distribute funds in Switzerland.
- The type of funds that can be marketed in Switzerland.
- The type of investors in Switzerland that foreign funds can offer.
- Professional investors vs Private investors.
- What needs to be done to offer foreign funds to respective investors in Switzerland?
- Update on the new Swiss regulatory framework.
- Can funds rely on reverse solicitation.
- How is Cayman perceived as a fund jurisdiction among Swiss investors?
Panelists included: Matteo Risoldi and Luis Pedro from Oligo Swiss Fund Services
Moderated by: Matthew Brown
Anne Storie interviewed Genna Garver earlier this month, a partner at Troutman Sanders in the Investment Management group. Genna provides advice to investment advisers, hedge funds and other private investment funds with various investment strategies. She is a highly sought-after speaker and author and regularly presents at industry events on various aspects of securities law.
She is also actively involved in numerous women’s and diversity initiatives in the financial services industry and is an active participant in 100 Women in Finance, the Investment Adviser Association, and the National Association of Compliance Professionals.
Genna leads a number of diversity efforts at her firm and more recently, part of a COVID-19 task force which they discuss in further detail. The conversation features:
- A discussion on the ‘new normal’ as a professional in the financial services industry
- The issues facing clients and Investment Managers
- How service providers are adapting in the current climate
- How the Financial Crisis compares then and now
John D’Agostino was pleased to be joined by Panayiotis Lambropoulos, Portfolio Manager at the Employees Retirement System of Texas
This is a first in a series of interviews with allocators in the alternatives industry, how they approach the industry, what their views are going forward, given the current environment that we live now live in.
DMS Governance were pleased to join together with Sadis & Goldberg and Dillon Eustace as they discuss what opportunities they are seeing in the marketplace and ways in which non-U.S. managers can tap into the U.S. markets.
The panel discusses factors that result in EU managers looking to other jurisdictions, and they will be joined by tax and regulatory experts who will discuss various types of structuring and regulatory implications.
Panelists included leading governance, legal and regulatory experts from the U.S. & Ireland:
David Morrissey, DMS Governance
Ron Geffner, Sadis & Goldberg
Donnacha O'Connor, Dillon Eustace
Seth Lebowitz, Sadis & Goldberg
Dan Viola, Sadis & Goldberg
David Lawless, Dillon Eustace
Join Niall O'Dowd, Executive Director and Leader for the DMS Governance Economic Substance team. Niall is based in the Cayman Islands and works closely with our teams globally to ensure that clients needs are met when it comes to the latest Economic Substance requirements. Find out more in our DMS Quick Take what the Cayman Economic Substance Law means for your fund and how DMS can help you comply.
Niall McNamara and Frank Dowling, leaders of our aviation team were joined by industry experts:
Phil Bolger, Strategic Adviser, Aircraft Leasing & Finance, Deloitte
Heinrich Loechteken, Chief Executive Officer JP Lease
Gary Fitzgerald, Chief Executive Officer, Stratos
Greg Byrnes, Chief Financial Officer, White Oak
The panel discussed the impact seen on the aviation industry in the wake of the Covid-19 pandemic and covered the following topics:
- How will public confidence be restored in air travel?
- Will the impact of Covid-19 be temporary?
- Can airlines repair their balance sheets'?
- Lessor management of airline lease waiver requests: What options do they have?
- How are governments supporting airlines in different jurisdictions? Can it be done without distorting competition?
- What other supports / solutions are available to the industry?
We were delighted to be joined by Michael Padarin and Jeremy Lightfoot, Partners from Carey Olsen’s Corporate and Litigation practices and DMS’ own Alaina Danley, Independent Director and Managing Director as they shared legal considerations and governance best practices when managing distressed situations. The Discussions included available liquidity mechanisms (suspensions, gates, side pockets), scope of powers and commercial considerations, the effect of fraud on NAV calculations and managing investor communications. They also discussed practical scenarios and ended with an overview of trends currently being seen in the global markets.
At DMS, we are receiving an increasing number of inquiries from our clients and friends regarding the latest updates to the Economic Substance Law.To learn more about this topic, join Niall O’Dowd, Independent Director and product specialist, from our Cayman Islands office, as he shares the “need to know” points for fund managers in Asia with his colleagues Finian Power and Connie Wong.
Our APAC audience were joined by Lori-Webb Griffith and Josephine Barron to learn the best industry practices to comply with Cayman AML regulations. Lori addressed Cayman AML issues and questions that are frequently and commonly asked by fund managers in Asia.
John D'Agostino was given a brief overview on UK economic policy response to Covid-19 by representatives from the UK Consulate in New York who went over policy steps taken to date which are helping to provide a framework to follow the UK Government’s economic policy approach to address the Covid-19 pandemic.
Connie Wong, Executive Director from our Singapore office was joined by Roman Ipfling, our ITC product specialist, who updated our attendees on the recent changes and updates to the CRS & FATCA reporting. He also provided an update regarding the newly implement Cayman CRS Compliance form and the DMS solution for such.
The latest in our series of calls with Mathematica, moderated by John D’Agostino. This week we covered in more detail how Mathematica is engaged in analyzing Medicare data, how it’s approach is evolving, and what early signals they are seeing across the US.
Matthew Brown, Managing Director from our NYC office was joined by Roman Ipfling, our ITC product specialist, who updated our attendees on the recent changes and updates to the CRS & FATCA reporting. He also provided an update regarding the newly implement Cayman CRS Compliance form and the DMS solution for such.
Please join DMS to learn more about the latest updates to the Private Funds Law which has created a regulatory regime for closed-end funds (such as private equity/venture capital/private debt funds) structurally similar to the existing regime for hedge funds, with some additional operational features.
All Private funds, whether formed before or after the passage of the Private Funds Law, must register with CIMA by 7 August 2020.
Join our panelists to find out what this means for your fund, and how the DMS solution can assist in ensuring your Fund is compliant:-
- Don Ebanks: Don provided an overview of the legislation and the regulatory approach.
- Alaina Danley: Alaina provided further background on the governance structures for private equity vehicles.
- Colm O’Driscoll: Colm covered the safekeeping of assets and cash monitoring that DMS Bank & Trust can assist with.