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Bonds climb as the Dow tumbles amid Trump sanctions on Chinese imports
6 years ago
Investors are seeking safety in government bonds -
Fund industry braces for further impact after court's DOL fiduciary rule decision
6 years ago
The US Department of Labor (DOL) had said it will not enforce its embattled ‘fiduciary rule’ following a legal ruling last week – but one regulatory lawyer says fund industry players should nevertheless brace for several impacts of that ruling -
Ares leads the way as US tax reform prompts corporate structure rethink
6 years ago
Ares Management has announced its conversion from a partnership tax structure to a corporation or C-Corp – and it’s likely other managers will follow suit now that US taxation law changes – the most comprehensive tax reform in more than three decades – have taken effect -
Fight for US loans commences following risk retention U-turn
6 years ago
US CLOs are set to be free from risk retention in the next few weeks. Headache over for US CLO managers? Not really – now it becomes a fight to source the assets that will populate CLOs -
Ireland follows Luxembourg and relaxes loan fund rules
6 years ago
The Central Bank of Ireland is now permitting LQIAIFs to engage in broader credit-focused strategies - which opens the door for direct lenders -
Past returns: Europe's own risk retention rewrite
6 years ago
Five years ago we reported that European CLO managers were hunting for partners to retain risk retention on their behalf. Shortly after, regulators performed a U-turn (nothing new here) and decided to prohibit third parties from acting as risk retainers -
They said it: CLO managers are a generous sort
6 years ago
With US risk retention set to be repealed, one CLO equity investor is convinced that managers will readily return 'risk retention capital' to investors -
CLO managers look to offload vertical strips
6 years ago
The pending withdrawal of US risk retention will result in CLO managers looking to sell vertical strips - if they can negotiate an early redemption of their financing agreements -
London manager shutters emerging market fund amid "regulatory headwinds"
6 years ago
London-based Insparo Asset Management is shutting down its emerging market debt funds, the company confirms -
CLO managers likely to be exempt from risk retention from 2 April, says LSTA
6 years ago
US CLO managers' exemption from Dodd-Frank risk retention rules will come into effect on 2 April unless the government appeals the ruling, the LSTA says -
Reprieved: US CLO managers are not subject to risk retention, court rules
6 years ago
The LSTA has prevailed in its lawsuit against the SEC and the Federal Reserve board, with an appeals court ruling that CLO managers are not subject to credit risk retention laws under the Dodd-Frank Act -
Law firm bolsters its CLO practice after hiring from Credit Suisse
6 years ago
Law firm Chapman and Cutler has further strengthened its CLO and structured finance practice, bringing in a figure from Credit Suisse's new issue CLO team -
Pimco interval fund seeks SEC order allowing it to issue further share classes
6 years ago
The Pimco Flexible Credit Income Fund has sought permission from the SEC to issue further classes of shares -
Debt managers spot opportunity as Australia’s banks face inquiry
6 years ago
Australia’s government announced a long-anticipated royal commission into the nation’s financial services sector on 30 November – and a credit market expert says the move could be good news for debt market participants -
Rule delay frees managers to continue selling
6 years ago
The US Department of Labor’s fiduciary rule were officially pushed back until 1 July 2019. That means selling funds into IRAs should be easier - for now -
EBA provides clarity on risk retention under STS regime
6 years ago
The European Banking Authority has laid out guidance for risk retention, which provides details on the transfer of risk retenton from one entity to another and what qualifies as a CLO originator -
European CLO managers aim for ‘full compliance’
6 years ago
November has seen an increase in new European CLOs complying with US risk retention rules, with at least five ‘fully compliant’ CLOs pricing -
SEC names deputy director for its investment management unit
6 years ago
The SEC has appointed Paul Cellupica as deputy director for its division of investment management -
Loan managers pile into BDCs amid possible change to leverage ratios
6 years ago
Golub Capital Partners and TCW are among those to have launched new BDCs as regulators look to revamp leverage limits -
Direct lending managers flock to unregulated fund structures
6 years ago
Direct lending managers are seeing the benefits of using unregulated fund structures -
Market is always wrong on effect of CLO rule changes
6 years ago
Risk retention has made little difference to the CLO industry. And it’s disappearance will similarly have little impact -
Points up front
6 years ago
Legal documents related to a now defunct fund run by Carlyle a decade ago, highlight tensions between two senior portfolio managers -
Leader aims to be at forefront of floating rate credit fund comeback
6 years ago
Floating rate credit fund launches have slowed to a dribble in the past three years after launching en masse in 2013 – but they may be due for a revival -
CLO managers brace for impact as securitisation regulatory changes pass
6 years ago
A new securitisation regime has passed the European Parliament – and it imposes onerous requirements on CLO managers, according to capital markets lawyer David Quirolo -
LA pension fund monitors high yield manager Aegon amid SEC investigation
6 years ago
The Los Angeles City Employees Retirement System (Lacers) is currently monitoring its high yield manager Aegon, which is under SEC investigation
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