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Custody

Third countries dominate AIFM negotiations

The question of how to deal with funds and managers based outside the European Union (EU) is proving the main dividing point in negotiations over the alternative investment fund managers (AIFM) directive.

Prime brokers move to SAS 70 audits

Learning from the default of Lehman Brothers, a growing number of prime brokers are adapting their business model to ensure margin is segregated and secure, with some looking to win third-party validation for the controls they have in place. Which firms…

Signed and sealed?

A lawsuit filed by two major dealers against Bank of America alleges the firm failed in its role as custodian to prevent the loss of $1.7 billion held by a special-purpose entity. What impact could the case have on the future of custodial agreements?…

Independent variable

A paper detailing alternative approaches to posting independent amount is expected to be jointly published by the International Swaps and Derivatives Association, the Managed Funds Association and the Securities Industry and Financial Markets Association…

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