Here we present our findings from the 2014 NeMa Africa conference which was hosted in London at the end of November.

Luxembourg has established itself as the most popular place for UCITS funds to domicile themselves and is shaping up to take a similar share of the AIFMD market as assets under management in the country ticked over to EUR2.6 trillion in 2013.

“Europe is back on the radar for US and Asian investors,” declared H.E. Pierre Gramegna, Luxembourg’s minister of finance at the London leg of the Association of the Luxembourg Fund Industry’s (ALFI) 2014 road-show. “This is good news for Luxembourg and European funds,” he declared.

The Cayman Islands is the first British Overseas Territory to formalise its agreement with the UK to share information pertaining to UK account holders in the region.

The IRS has published the draft agreement for FFIs reporting directly to the IRS and those conveying information through the model two IGA as mandated under FATCA

The Internal Revenue Service (IRS) in the US has opened up the registration process for financial institutions to register their details in order to become compliant with the Foreign Account Tax Compliance Act (FATCA) that aims to collect tax revenue from US nationals with offshore accounts.