Laven Partners' Managing Director Contributes to a Book

4 February 2010

Robert Mirsky, Managing Director at Laven Partners has written a chapter in a book entitled Hedge Funds and Prime Brokers. The book analyses the regulations proposed in the light of the Credit Crisis in Europe, the US and Asia. Robert Mirsky authored the chapter on Key Tax and Accounting issues.

Laven Partners Supports Hedge Funds Care UK

4 December 2009

On 3 December, Laven Partners attended the fifth annual UK fundraising event by Hedge Funds Care UK, the UK charity of hedge fund industry professionals committed to protecting children from abuse and neglect. The event featured a Christmas theme filled with music and entertainment and was attended by hundreds of hedge fund industry professionals. The evening raised almost £200,000 to benefit charities that work towards the prevention and treatment of child abuse.

Jerome Lussan said: "This is the third year running that we are supporting Hedge Funds Care UK and it is an honour to be part of such a worthwhile charity - the cause is very close to our hearts.

New FSA Rules and Reporting Requirement: Liquidity Management

1 December 2009

As part of our continuing regulatory expertise we provide regular comments on important new regulatory developments. This quarter we note the new liquidity requirements. On 1 December 2009 the FSA’s new rules on liquidity management came into force. The rules were introduced to toughen up the existing provisions on liquidity risk management. The FSA is applying the lessons it has learned during the past two years when several large credit institutions faced an acute liquidity crisis.

Whilst banks are encouraged to lend more and provide the market with more liquidity, the FSA maintains that at the other end of the spectrum, liquidity management standards must be significantly improved. By strengthening the liquidity rules, the FSA hopes that it will help improve the perception of the financial soundness of UK financial institutions. The long-term aim is to make the UK financial sector more competitive.

Laven Partners has already assisted several credit institutions abroad to meet similar liquidity requirements which have been based on the Principles for Sound Liquidity Management issued by the Basel Committee on Banking Supervision. The new rules are also partly based on these principles which effectively create a global standard being applied across jurisdictions. Asset Managers and Investment Advisers The new rules are applicable to all BIPRU firms, including investment firms such as asset managers and investment advisers. However, asset managers and investment advisers are likely to be excluded from the full scope of the rules as they would usually fall within a BIPRU limited licence or limited activity category.

What do the new rules cover?
The requirement to have adequate liquidity risk management policies and processes in place already exists under the FSA's rules in the Senior Management Arrangements, Systems and Controls sourcebook (SYSC 11). The new rules will be contained in the Prudential Sourcebook for Banks, Building Societies and Investment Firms of the FSA handbook (BIPRU 12).

The new liquidity rules introduce more detailed requirements in terms of pricing liquidity risk, intraday management, collateral, liquidity needs of various business lines and funding diversification. Whilst a requirement to conduct stress testing already exists under the requirements in SYSC, the FSA have provided specific scenarios for firms to test. Additionally, firms will be required to report to the FSA on the effectiveness of their systems and controls requirements. Firms subject to the rules need to take steps now to prepare for the introduction of the new requirements.

Laven Partners wins in 'Best Advisory Firm' category at HFMWeek Service Provider Awards 2009

21 May 2009

Laven Partners received the HFMWeek Service Provider Award 2009 in the category of 'Best Advisory Firm' during the winners' announcement ceremony on Thursday 21 May 2009 at London's Hurlingham Club.

The HFMWeek Service Provider Awards consist of 17 categories and cover various services provider areas of the hedge fund industry such as prime brokerage, advisory and fund administration.

The award was accepted by Jérôme de Lavenère Lussan, founder and Managing Director of Laven Partners.

"This award is a great recognition of the work of our team and we are very proud to have received it. We have experienced an increased demand for tailored advisory and due diligence services. For many investors the off-the-shelf approach by institutional advisors is no longer appropriate, particularly in the current climate. The Laven group, which combines advisory, compliance, structuring and legal services is agile to provide global solutions, but also 'small enough to care', says Mr Lussan.

Lussan went on to note that industry focus is shifting from pure acceptance of performance to paying more attention to the broader framework and infrastructure of investment funds. "The new regulatory pressures for transparency are raising the standards for the industry hence improving areas of work relating to operations and risk management and creating better value for hedge fund investors. Laven Partners is committed to ensuring that the service our clients receive in 2009 and beyond will continue grounded in our pricinples of quality, proactivity and enthusiasm which have served our clients so well."

Laven Partners Shortlisted for Two Industry Awards

30 April 2009

Laven Partners are delighted to announce that we have been shortlisted for the HFMWeek Service Provider Awards 2009 in the category of 'Best Advisory Firm' and will participate in the winners announcement ceremony on Thursday 21 May at London's Hurlingham Club.

Laven Partners has also been shortlisted for the Pension and Investment Provider Awards 2009 in the category of 'Investment Consultant'. The ceremony will be held on 6 May at Sheraton Park Lane Hotel.

Laven Partners Anniversary

2 April 2009

Laven Partners celebrated its fourth anniversary at the Wellington Arch on 2 April 2009. We invited our clients and friends to joins us for a champagne and canape reception at the top of the Wellington Arch, overlooking Hyde Park. It was the second time Laven Partners organised an anniversary at the Arch. The evening turned out to be a great success and we look forward to organising our next party.

We would like to thank all our guests for their attendance.

Laven Partners and Hedge Funds Care UK

27 October 2008

Hedge Funds Care UK gala dinner was yet again a success this year. The setting at the Natural History Museum was majestic and we would like to thank the team at HFC for pulling off such a great event.

This year we assisted by sponsoring the water on all the dinner tables as well as assisting in kind with donations and with the general organisation of the event.

As far as we understand the event raised substantial funds yet again and we look forward to taking part again next year.

For more information, visit http://www.hedgefundscare.org.