Financial Services Europe and International Update - March 2012, Issue 4


Regulatory Developments

This update summarises current regulatory developments in the European Union and the UK focusing on the investment funds and asset management sectors, during the past three weeks.

EU Regulatory Developments

p1 EMIR Update

p2 Proposed Regulation on Central Securities Depositories

p2 The FICOD Review

p3 IOSCO Consultation on Updated CIS Valuation Principles

p3 ESMA Consultation on Future Regulatory Framework for ETFs and Other UCITS Issues

p3 Revised Hedge Fund Standards Board Standards

p4 IOSCO Consultation on Suitability Requirements for Distribution of Complex Financial Products

p4 The Proposed Short Selling Regulation

p4 ESMA Discussion Paper on Key Concepts of the AIFM Directive

p5 The Proposed EU Financial Transactions Tax UK Regulatory Developments

UK Regulatory Developments

p5 The FSA’s Retail Distribution Review: Draft VAT Guidance

p5 Supply of the KIID for Direct Sales: FSA Waiver by Consent

p6 Consolidated Version of FSMA Reflecting the Financial Services Bill as Introduced to Parliament

Please see full newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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