- Strategic Imperatives for Asset Managers
5/21/13 | Asset management
This paper presents a thematic introduction to the issues the asset management industry is facing, the key implications to asset managers, and the questions firms should be asking to best adapt their strategies and take advantage of these new and emerging industry demands.
Setting the standard
Setting the standard -- What you need to know about the FASB's and IASB's standard setting activities -- March 2013
3/25/13 | Assurance services
Our Q1-2013 edition provides updates on the latest developments in revenue recognition, classification and measurement of financial instruments, impairment of financial assets, leases, insurance contracts, and more.
Webcast
Alternative Investments: Insights on Managing Tax Risks and Protecting Your Institution webcast – March 19, 2013
Healthcare
PwC discusses the tax reporting considerations that every tax-exempt organization investor should be aware when deciding to commit funds into the alternative investments market.
- Segment footnote disclosures (Insights from the investment community)
2/28/13 | PwC Investor Resource Institute
US accounting standards require public companies to disclose, in their financial statement footnotes, segment data based on the “management approach,” under which investors are provided with a view of the business through the eyes of management. Read more in this edition of Insights from the investment community.
- Demystifying the audit
2/20/13 | PwC Investor Resource Institute
This Insights for the Investment Community explains what the auditor does, what the auditor does not do, and how to better understand the audit opinion.
Webcast
The Foreign Account Tax Compliance Act - A closer look at the final regulations and their implications for asset managers webcast – February 26, 2013
Financial services
The long-awaited final Foreign Account Tax Compliance Act (FATCA) regulations have arrived. Learn how these changes may impact your organization and implementation strategy for global compliance.
- How do the final FATCA regulations affect asset managers?
2/7/13 | Financial services
The US Treasury Department and the Internal Revenue Service (IRS) released their guidance on FATCA for the asset management industry, with a compliance deadline of January 2014. Key issues in implementation and other areas remain to be resolved.
- The text of the final Foreign Account Tax Compliance Act (FATCA) regulations in an easy to read format
1/24/13 | Financial services
The final FATCA regulations document from PwC's Global Information Reporting (GIR) practice is formatted with references in an easy to read format. The GIR team has developed this version of the regulations to give tax and compliance professionals an easier option to study and know the rules surrounding FATCA.
- An unsettled world: The changing world of cash equities and fixed income and how it is impacting asset managers and their service providers
1/10/13 | Financial Services Institute
The financial crisis and new capital and regulatory rules have forced asset managers to reduce fees and have increased the challenges for sell-side firms participating in the cash equities and fixed income execution to custody value chain. Find out how firms are changing their business models to adapt to these market changes.
Setting the standard
Setting the standard -- What you need to know about the FASB's and IASB's standard setting activities -- December 2012
12/19/12 | Assurance services
There is no shortage of activity to report this quarter as the boards forged ahead on their major convergence projects. The FASB and IASB made several key decisions as they move closer toward issuing exposure drafts and final standards. In the Q4-2012 edition of Setting the standard, we update you on the latest developments of the joint standard setting projects of the FASB and IASB, as well as the latest on FASB-only projects.
Dataline
Dataline: Financial instruments classification and measurement - An update on the FASB's tentative approach to be exposed in Q1 2013 (No. 2012-21)
12/7/12 | Assurance services
Classification and measurement is an important part of the FASB and IASB’s joint project on financial instruments. The FASB expects to issue a revised exposure draft in the first quarter of 2013 for public comment. The board will likely ask for feedback on the amount of time needed to implement the changes before deciding on an effective date for the final standard. The IASB issued an exposure draft of its proposed changes to IFRS 9 in late November 2012 with a proposed effective date of January 1, 2015. The exposure draft has a 120-day comment period. This Dataline provides a summary of the boards' decisions that is based on the project summaries posted on their websites, our observations of their meetings, and our understanding of their intent.
- Current developments for mutual fund audit committees: September 30, 2012
11/16/12 | Asset management
This edition of Current Developments includes articles on the adoption of a new Auditing Standard by the PCAOB, regulatory highlights from a PwC Mutual Fund Directors Roundtable, and potential implications for mutual funds surrounding the uncertain fate of the 2001 and 2003 tax cuts.
In brief
In brief: IASB finalizes definition of an "investment entity" (No. 2012-49)
11/2/12 | Assurance services
Read this discussion of the IASB's October 2012 amendments to its existing guidance on the definition of an "investment entity," from PwC's CFOdirect Network.
- PwC mutual fund directors roundtable 2012 highlights
10/22/12 | Asset management
PwC invited independent directors from the boards of mutual fund complexes to discuss issues facing the industry, including new and forthcoming regulations, adopting leading-edge practices in risk management and valuation, conducting effective contract review processes and improving the effectiveness of boards.
- 9 new rules of IT strategy for asset management
10/10/12 | Asset management
The asset management industry is experiencing structural change driven by investor preferences, pricing pressure and uncertain markets which introduce the risk of misalignment between business and IT strategy.
- Current Developments for mutual fund audit committees: June 30, 2012
8/30/12 | Asset management
This edition of mutual fund audit committee current developments highlights non-agency residential mortgage-backed securities, changes to consolidation as outcome of proposed entity definitions, and FATCA implementation updates.
In brief
In brief: FASB debates the path forward for investment property entities (No. 2012-34)
8/10/12 | Assurance services
The FASB met on August 8, 2012 to discuss the next steps on its project on investment property entities. The FASB did not make a final decision on the path forward; however, the board tentatively decided not to continue developing an entity-based approach for investment property. This In brief article provides an overview of the key issues and what's next for the project.
Podcast
Podcast: Balance sheet offsetting disclosures
Asset management
In this podcast, a PwC Assurance senior manager summarizes the disclosure requirements under Accounting Standards Update 2011-11, Disclosures about Offsetting Assets and Liabilities (ASU 2011-11).
- From black box to open book: Hedge fund trust and transparency
7/20/12 | Asset management
US hedge funds have enhanced transparency, controls and infrastructure, gaining the trust of institutional investors. Across the hedge fund value chain, a new framework is emerging that is improving investor protection that is still in process.
- US real estate insights: June 2012
7/12/12 | Real estate
In the US Real Estate market, there is revived interest in industrial assets and investment properties, and the ownership profile of public lodging REITs.
- Top Issues Facing Asset Managers
4/17/12 | Asset management
The asset management industry faces challenging markets, regulatory reform, competition for clients and talent, and new expectations from investors, regulators, industry partners and other stakeholders. In spite of these challenges, the asset management industry is positioned for future growth.
- A fast take on the impact of the Dodd-Frank Act on asset management firms
4/13/12 | Financial services regulatory practice
April 2012 - Several provisions of the Dodd-Frank Act impact the asset management industry, either directly as regulated investment advisers, or indirectly as participants in the markets. Here is a summary of how Dodd-Frank impacts asset managers.
- 2011 US Asset Management reward and talent management survey
3/23/12 | Asset management
PwC's 2011 US Asset Management Reward and Talent Management Survey gives human resource leaders insight into emerging trends and best practices in talent acquisition and retention. Volatile financial markets, minimal M&A activity, global regulatory reform and greater investor scrutiny continued to pressure asset managers, HR leaders are redesigning incentive and governance structures to support evolving business objectives and grow their human capital base.
- Asset Management M&A Insights: The way forward
2/29/12 | Asset management
2011 was the worst year in global asset management mergers and acquisitions in five years. European bank divestitures, continuing improvement in valuations and strong buyer interest should improve in 2012. Competition for growth is increasing and continuing uncertainty could make managing performance difficult.
PwC comment letter (FASB)
PwC Comments on Proposed ASU: Financial Services - Investment Companies (Topic 946)
2/16/12 | Assurance services
PwC is concerned about the significant differences between the Boards' respective proposals. For example, the Boards' differ in their proposed treatment of a controlling financial interest in an investment company held by a non-investment company parent. PwC believes that such significant differences should be eliminated in order to achieve a truly converged standard.
PwC comment letter (FASB)
PwC Comments on Proposed ASU, Real Estate - Investment Property Entities (Topic 973)
2/16/12 | Assurance services
PwC does not believe that measuring all real estate investments at fair value will necessarily yield better reporting for all types of investors. However, we do believe that fair value for entities that are fundamentally investing entities, as opposed to operating entities, would provide more relevant information to users of financial statements. Further, even among investing entities that account for their real estate investments at fair value, significant diversity in application exists with respect to presentation, measurement, consolidation and disclosure.
- Accelerating FATCA compliance
1/19/12 | Financial services
This white paper explores PwC's unique approach to FATCA compliance and how its methodology has helped financial services institutions develop strategic and comprehensive assessment and implementation blueprints to achieve compliance.
Dataline
Dataline (Supplement): Revenue from contracts with customers - Asset management industry (No. 2011-35)
11/22/11 | Assurance services
The FASB and IASB released an updated exposure draft, Revenue from Contract with Customers, on November 14, 2011, and are requesting comments by March 13, 2012. In Dataline 2011-35, we share our analysis of and insight on the overall proposal. This industry supplement to Dataline 2011-35 provides specific examples and assessments of the potential affect of the updated proposal on the asset management industry.
Dataline
Dataline (Supplement): A New Approach to Lease Accounting - Real estate lessee supplement (No. 2010-38)
1/6/11 | Assurance services
The FASB and IASB's recently-issued exposure draft titled Leases contains the boards' proposal for a new approach to lease accounting that could fundamentally change the way both lessees and lessors account for leases. Under the proposed model, a lessee's rights and obligations under all leases - existing and new - would be recognized on its balance sheet. Lessors would report leases using either a performance-obligation approach or a derecognition approach. Dataline 2010-38 provides an overview and various insights into the boards' proposed standard. In January 2011, PwC issued a real estate lessee supplement to this Dataline summarizing the exposure draft from a lessee's perspective.
