Non-EU hedge funds stage surprise escape from SFTR

European Commission clarifies scope of reporting obligation that confused many in the industry

Cayman Islands
Many hedge funds outside the EU – in the Cayman Islands, for instance – are run by EU-based managers

Hedge funds located outside the European Union will, after all, escape an upcoming set of extensive trade reporting requirements as rule-makers have issued a clarification that upends the industry’s understanding of the rules.

Many in the alternative investment industry were caught off guard by a January 6 report from the European Securities and Markets Authority that accompanied its final guidelines on the Securities Financing Transactions Regulation. They took the report to mean hedge funds

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