| FINEX Europe and the seed capital regime: an update |
Issue: 03 / 2004 |
| While the operation of the FINEX seed capital scheme has been extended to December, it is still subject to EU approval, and although more Irish traders may now be able to avail of the scheme, the critical mass of FINEX traders that the FINEX seed capital scheme hoped to attract may not now be achieved writes Gary O’Mahony. |
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| Flow of new jobs in hedge funds continues |
Issue: 03 / 2004 |
| This month we introduce a new column - ‘Top Jobs in Finance’ in which we shall review employment trends and opportunities for senior staff in financial services, and in finance generally. A number of international financial services companies ramped up their recruiting drives in March, with jobs in hedge funds, securitisation and aviation finance featuring. If you have a job, or if you are recruiting for a significant top job which you think should be profiled here please contact us with the details (email: topjobs@finance-magazine.com). |
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| Getting the story right |
Issue: 03 / 2004 |
| Ita Gibney details the media strategy behind Royal Bank of Scotland’s acquisition of First Active, and how it played a role in contributing to the success of the transaction. |
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| Groups to work on implementation of ISD II |
Issue: 03 / 2004 |
| The Committee of European Securities Regulators (CESR) has been charged with advising the Commission on possible technical measures, or Level 2 measures, to implement the proposed Financial Instruments Markets Directive (FIM), which will revise the existing Investment Services Directive (ISD). |
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| IAS 19 - the 'employee benefits standard' - implications for Irish multinationals |
Issue: 03 / 2004 |
| From 2005, all companies listed on a European Union stock exchange will be required to report their employee benefit costs in accordance with the international accounting standard IAS19. Philip Collins and Ciaran McGrath examine the key issues to be considered by Irish (and indeed all EU-based) companies and multinationals when preparing a process to adopt and annually report the retirement pension aspects of IAS19. |
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| Ireland seeking Oscar for ‘best holding company location’ |
Issue: 03 / 2004 |
| With Ireland’s newly introduced holding company tax regime beginning to generate interest amongst multinationals, Evelyn Forde compares the other ‘nominees’ in this category, Luxembourg and the Netherlands, and assesses Ireland’s chance of ‘winning’ business away from these jurisdictions. |
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| ISE to launch first Irish ETF |
Issue: 03 / 2004 |
| The Irish Stock Exchange (ISE) is currently working with three other entities on launching an exchange-traded fund (ETF), which will comprise of a basket of fifteen of the most liquid equities traded on the Irish market. It is expected that this first ETF will be traded within six months. |
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| Key investment terms |
Issue: 03 / 2004 |
| Mercer Investment Consulting present an ‘investment dictionary’ of terms commonly used in investment management. Part one A-N. |
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| Minimising VAT in financial services |
Issue: 03 / 2004 |
| In the EU VAT is a significant cost for the financial services industry. Because most financial services are treated as exempt from VAT, the financial service industry is largely treated as a ‘final consumer’ for VAT purposes, and forced to bear the VAT cost. Banks, insurance companies, brokers, fund managers, all need to pay attention to minimising their VAT cost. |
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| New centre for Institute of Bankers |
Issue: 03 / 2004 |
| The Institute of Bankers in Ireland, the professional education body for banking and financial services with a membership of over 20,000, has opened a new education centre in the IFSC, aimed at educating bankers to the highest international standards. |
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| New client money rules to impact on investment intermediaries, stockbrokers and fund administrators |
Issue: 03 / 2004 |
| Two recent High Court cases involving MMI and W&R Morrogh, an investment management firm and a stockbroking firm respectively, which each resulted in the loss of client assets and payments by the Investor Compensation Company, have necessitated a review of existing client money requirements by IFSRA. Following a long period of consultation with interested parties new client money rules will be issued shortly to replace the original Client Money Rules issued in 1996 write Paula Kelleher and Orla Beaton. The New Rules will be contained within a revised IFSRA Handbook and there will be a 6-month transitional period before the requirements come into force. |
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| New competition? |
Issue: 03 / 2004 |
| On May 1 2004 Malta and Cyprus will become full members of the EU. Both states have ambitions to become international financial services centres. Their taxation systems support this ambition. |
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| New course aims to educate graduates in more sophisticated financial products |
Issue: 03 / 2004 |
| Responding to the Government’s desire to create a more front-office oriented international financial services sector, the University of Limerick has created a masters programme aimed at equipping graduates with the necessary technical skills for specialised fund-management, hedge-fund and proprietary trading / capital markets operations, Bernard Murphy writes. |
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| Nominations for ‘Deal of the Year’ 2004 |
Issue: 03 / 2004 |
| Ireland’s leading corporate financiers have nominated a selection of the most significant deals of 2003/2004 for the annual ‘Deal of the Year’ award, which will be announced in next month’s issue. |
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| The financial instruments standards |
Issue: 03 / 2004 |
| The revisions to IAS 32 and IAS 39 published in December 2003 include consequential amendments to IFRS 1, First-time Adoption of International Financial Reporting Standards. John McDonnell looks at the implications of the amendments. |
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