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This profile was last updated on 11/17/14  and contains information from public web pages.

Senior Vice President and Head of...

Email: s***@***.com
Local Address: Dublin, Ireland
Brown Brothers Harriman & Co.
140 Broadway
New York , New York 10005
United States

Company Description: A global leader with close to 200 years of experience, Brown Brothers Harriman (BBH) helps many of the world's most sophisticated mutual funds, investment managers,...   more

Employment History


  • BS degree , business administration
    Mary Washington College
10 Total References
Web References
Sean M. Tuffy Senior ..., 17 Nov 2014 [cached]
Sean M. Tuffy Senior Vice President, Head of Regulatory Intelligence Brown Brothers Harriman
Sean M. Tuffy is a Senior Vice President, and Head of Regulatory Intelligence at Brown Brothers Harriman. He is based in Dublin, Ireland. Sean has 15 years of experience in the cross-border fund industry. He joined BBH in 2006, prior to which he worked at State Street Corporation in Boston and Dublin. Sean participates actively in industry groups, including the Irish Funds Industry Association, International Securities Lending Association and the Association of Global Custodians. His insights on global financial regulations are sought after, and he frequently presents them at conferences and in publications. Sean has a BS degree in business administration from Mary Washington College.
Before any SIFI designations or lawsuits, ..., 26 May 2014 [cached]
Before any SIFI designations or lawsuits, "the discussion needs to come down to a much more detailed level, and the definitional issues really need to be worked out," said Sean Tuffy, Dublin-based senior vice president and head of regulatory intelligence for Brown Brothers Harriman & Co., a custodian bank whose customers have a cumulative $4 trillion in assets.
"When you make last-minute deals, you ..., 21 May 2014 [cached]
"When you make last-minute deals, you make compromises you would not make if you would have had more time so there is likely to be pressure to change things," said Sean Tuffy, a senior vice president at Brown Brothers Harriman. "The new open access to clearing provision, which was a highly contentions point during the drafting of MiFID 2, is one area that we should expect to see pressure to change," Tuffy said.
Sean Tuffy, senior ... [cached]
Sean Tuffy, senior vice-president of investor services at Brown Brothers Harriman, the investment group, agrees.
Just 17 per cent were planning ... [cached]
Just 17 per cent were planning to appoint a depositary-lite.

“Firms, by and large, are appointing full-scope banks to act as depositary-lite or depositary under AIFMD so they can migrate business from the former to the latter once the private placement regime expires,†explains David O’ Keeffe, chief executive officer at SMT Trustees in Dublin, a subsidiary of SuMI Trust.

Irish service providers certainly seem well placed to provide both depositary-lite and full depositary services to AIFMs. “On the full-scope depositary side, Ireland is well-ahead of the game, and certainly ahead of competing jurisdictions such as Luxembourg,†says Sean Tuffy, senior vice president at Brown Brothers Harriman (BBH) in Dublin. “Ireland has had the concept of the trustee for many years now, servicing UCITS funds and non-UCITS funds such as Qualifying Investor Funds (QIFs) and their successor, the Qualifying Investor Alternative Investment Funds (QIAIFs).

Although fund administrators are always careful to establish depositary lites as wholly separate businesses, with different reporting lines and boards of directors, they remain vulnerable to the insinuation that a depositary-lite reporting on the valuation work of a sister company will be loath to report malpractice to the regulator.

Thirdly, in Ireland in particular, depositary lites face the further disadvantage that Ireland, while a world-leading fund administration centre, is not a world-leading fund-raising centre. “This is the biggest challenge for Ireland in regards to building up a depositary lite industry,†explains Sean Tuffy of BBH. “ESMA has made it clear that asset managers must appoint a depositary-lite in the jurisdiction or jurisdictions where the fund is being distributed or the AIFM is domiciled.

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