For capital market participants, 2012 is likely to feel very similar to the last few years in regulatory terms, only more so as the various political and regulatory responses to the financial crisis are now in full swing. Many of the principal changes, like AIFMD, still remain ahead of us.

We are pleased to announce that HedgeOp Compliance, LLC (HedgeOp), the leading provider of specialised compliance software and consulting services for investment advisers in the US, has merged with The IMS Group (IMS).

A swift turnaround but will the Commission accept ESMA’s recommendations?

On 16 November 2011 the European Securities and Markets Authority (“ESMA”) published its final technical advice (“the ESMA Advice”) to the European Commission on the proposed rules to be contained within the Alternative Investment Fund Managers Directive (“AIFMD” or “the Directive”). ESMA sent its proposals out for consultation in July and August this year and garnered more than 150 submissions in response.

With so many regulatory developments currently in train at the various institutions of the EU, some of them a response to the 2008 financial crisis, others chalked into the schedule prior to it, it can be difficult to keep track of what is happening and when. Making this task even more challenging is the fact that the legislation in question is often still in proposal form and many months (even years), consultations, negotiations and votes lie ahead.

Coping efficiently with regulatory change on a domestic and international level

Change is inevitable: the regulatory environment is no more likely to remain constant than any capital market or other economic factor. At a time when the regulatory arena is experiencing an unprecedented level of change, a healthy, proactive compliance culture is the nearest a firm can get to future-proofing its practices. It’s also the most stable platform from which to cope with regulatory change.