UK regulators extend the new regulatory framework that governs individual accountability to banking and insurance.
The UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published their...more
With a mandate from Parliament, the UK regulators are working on a new regime governing individuals in banks.
The UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published a joint...more
The consultation paper aims to clarify the classifications of derivatives and provide a consistent approach for entities operating across the EU.
The European Securities and Markets Authority (ESMA) recently published...more
Although AIFMD took effect in key EU member states in 2013, in practice, its one-year grace period largely gave managers of alternative investment funds an opportunity to postpone compliance until 22 July 2014....more
Changes to the use of dealing commission rules, including a ban on “softing” of corporate access services, reflect the FCA’s continuing objective to ensure that investment managers control the costs that they pass on to their...more
The European Securities and Markets Authority has requested clarity on the definition to ensure consistent application across member states.
Following industry lobbying, the European Securities and Markets Authority...more
The EU Long Term Investment Fund will offer investors a mechanism to invest in projects requiring long-term funding.
In June 2013, the European Commission (the Commission) proposed a new type of European closed-end...more
With the imminent trade reporting obligation under EMIR, affected entities should review the new requirements as well as the status of other EMIR obligations.
On 12 February 2014, the trade reporting obligation under...more
European Banking Authority publishes regulatory technical standards for the identification of “material risk takers”, reducing the potential impact of the new rules on bonus caps....more
With certain EMIR provisions set to go live in September, both EU counterparties and many non-EU counterparties must take action to comply with risk management requirements, which involve some overlap with Dodd-Frank....more
With AIFMD taking effect, non-EU alternative investment fund managers should be aware of a new regime governing their marketing of such funds into the EU—the AIFMD's private placement overlay.
Arrangements allow EU securities regulators to supervise non-EU alternative fund managers and thereby allow such managers access to the EU.
On 30 May, the European Securities and Markets Authority (ESMA) announced that...more
Affected financial institutions and investment firms will need to overhaul the way they remunerate many of their highest-paid staff....more
UK will now allow qualifying non-EEA firms to rely on the one-year transitional provision.
On 29 April, HM Treasury published a short Q&A on the transposition of the Alternative Investment Fund Managers Directive...more
New clearing, risk mitigation, and reporting obligations imposed on certain derivative contracts.
On 15 March, the first six implementing measures of the European Market Infrastructure Regulation (EMIR) entered into...more
Long-heralded reform of the UK financial services regulation architecture impacts the listed company regime.
On 1 April, a new financial regulation architecture became operative in the UK through the Financial...more
The Financial Conduct Authority and the Prudential Regulation Authority begin work as the two new regulators in the wake of the long-heralded abolition of the Financial Services Authority....more
UK-based alternative investment fund managers should complete the survey, which responds to industry pressure regarding the time line for AIFMD authorisation applications, before the 28 March deadline....more
Handbooks for Financial Conduct Authority and Prudential Regulation Authority will replace FSA Handbook on 1 April.
On 8 March, the UK Financial Services Authority (FSA) published draft handbooksfor the two new...more
Adoption of the regulation accelerates implementation of the Alternative Investment Fund Managers Directive throughout the EU.
The European Commission adopted the long-heralded Alternative Investment Fund Managers...more