Tuesday 30th June 2015
NEWS TICKER, TUESDAY JUNE 30TH 2015: Roxi Petroleum has reported progress at its flagship BNG asset as it posted an operational update. The Central Asian oil and gas company with a focus on Kazakhstan says that a gross oil-bearing interval of at least 105 metres, from 4,332 metres to 4,437 metres, was found at its Deep Well A5. The well, which was spudded in July 2013, will require specialist equipment for a more comprehensive 30-day core sampling test, but has already began preparatory extraction work Elsewhere, Deep Well 801, spudded in December 2014, is in the production test phase. "Progress at the BNG deep wells can best be described as steady," says chairman Clive Carver. "We look forward to reporting the results of our ongoing work in the near future – Advisory firm Hargreaves Landsdown has reportedly acquired a client book of 7,000 investors with a combined £370m of assets from JP Morgan Asset Management. The book accounts for 6% of JP Morgan’s direct client business and represents clients that hold or plan to continue to invest in non-JP Morgan funds or investment trusts in wrappers other than the JP Morgan ISA. This includes clients with direct equities, gilts or exchange-traded funds, who will be moved the brokers Vantage platform. The sale follows JP Morgan's announcement in January 2014 that it would no longer offer direct clients anything other than JP Morgan funds and investment trusts and that it would close its cash ISA and Sipp. There will be no transfer charge for clients moving to Hargreaves. The terms of the deal have not been disclosed - The OECD will publish Government at a Glance 2015 on Monday July 6th. The biannual report, now in its fourth edition, presents more than 50 indicators to compare governments’ performance in everything from public finances (including government spending per person), cuts to staffing and pay in central government and the level of private asset disclosure by government officials to access to and satisfaction with the healthcare, education and the justice systems This year’s report covers non-OECD countries for some indicators including Brazil, China, Egypt, India, Russia, South Africa and Ukraine and 36 country factsheets with infographics will be published alongside it. OECD Deputy Secretary-General Mari Kiviniemi will present the report at OECD Headquarters in Paris at 09:00am - Queensland diversified property group WA Stockwell has closed its $35m bond issue oversubscribed following a strong investor response to the offer, sole lead arranger FIIG Securities has announced. The six year senior secured amortising note issue will pay a fixed rate of interest of 7.75% pa. FIIG CEO Mark Paton says the success of the Stockwell issue confirmed the market appetite, especially among wholesale investors, for credit exposure to quality Australian companies. The Stockwell issue is the fourth that FIIG has sole-arranged for a company in the property and infrastructure sector, following successful issues by ASX-listed property developer Payce Consolidated, infrastructure operator Plenary Group, and ASX-listed property funds manager 360 Capital.

Latest Video

Blog

Regulatory Update

Waiting for the SEC to Jumpstart U.S. Business? Instead, Why Not Jumpstart Your Own Business?

Thursday, 23 August 2012 Written by 
Waiting for the SEC to Jumpstart U.S. Business? Instead, Why Not Jumpstart Your Own Business? In April 2012, the U.S. Congress passed the Jumpstart Our Business Startups Act (“JOBS Act”), a law that would ease restrictions on marketing private funds to U.S. investors. It came with high hopes that U.S. regulatory requirements would soon be simplified in this area. Now those efforts may be stalled for the time being. This does not mean that your efforts to market into the U.S. should also be stalled. http://www.ftseglobalmarkets.com/

In April 2012, the U.S. Congress passed the Jumpstart Our Business Startups Act (“JOBS Act”), a law that would ease restrictions on marketing private funds to U.S. investors. It came with high hopes that U.S. regulatory requirements would soon be simplified in this area. Now those efforts may be stalled for the time being. This does not mean that your efforts to market into the U.S. should also be stalled.

By way of background, in the U.S. most private funds are offered to investors in reliance on an exemption from registration with the SEC that prohibits “general solicitations or general advertising.” The JOBS Act instructed the SEC to adopt rules eliminating the prohibition by the beginning of July. The SEC missed that deadline. More recently, the SEC scheduled a meeting for August 22 to consider the rules, but at the last minute the discussion was postponed until next Wednesday, August 29. In a subtle, but potentially impactful change to the meeting agenda, next week’s meeting will consider “whether to propose” (emphasis supplied) rules to eliminate the prohibition, as opposed to actually considering the rules themselves.
 
For the time being, the prohibition on general solicitations and general advertising remains.
 
However, according to a recent Citibank study, U.S. investors are the most active day one/early stage allocators and their allocation are over 50% larger than those from other regions. When entering into the U.S. market, non-U.S. advisers may have an advantage over U.S. emerging managers since many already have established track records.

Instead of waiting for the SEC to jumpstart U.S. businesses, why not jumpstart your own? U.S. advisers have successfully navigated the U.S. environment for years; you can too.

Deborah Prutzman

Deborah Prutzman is the founder and CEO of The Regulatory Fundamentals Group (RFG), a New York-based firm that designs and implements business and risk solutions for alternative asset managers and institutional investors. RFG's senior-led team employs a robust suite of tools, including practical alerts on new and potential industry developments and its powerful RFG Pathfinder® knowledge management platform which simplifies the challenges of operating in a regulated environment.  To learn more about The Regulatory Fundamentals Group call (212) 537-4058, email a representative at Information@RegFG.com or visit RegFG.com

Related News

Related Articles

Related Blogs

Related Videos

Current IssueSpecial Report

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP