Financial Services Europe and International Update: Regulatory Developments


This update summarises current regulatory developments in the European Union and the UK in the investment funds and asset management sectors in the past four weeks.

In This Issue:

EU Regulatory Developments

- p1 EVCA Consults on New Professional Standards Handbook

- p1 The ECB President’s Proposal for a European Ministry of finance

- p2 EU Contract Law: Optional Instrument

- p2 EMIR: Hungarian Presidency Produces Further Compromise Text

- p3 Polish EU Presidency’s Priorities Published

- p3 ESMA and Japan FSA Sign Exchange of Letters on CRA Supervision and Information-Sharing

- p3 New Indicative Dates for European Commission Legislative Proposals on MAD and MiFID Revisions

- p3 BCBS Documentation on Basel III Implementation Monitoring

- p4 Venture Capital Funds: EU Commission Consultation

- p4 Prospectus Directive: ESMA Consultation on Technical Advice to European Commission

- p5 Taxation: Commission Requests Poland to Amend Discriminatory Tax Legislation for Foreign Investment and Pension Funds

UK Regulatory Developments

- p5 AIMA’s Guide to Institutional Investors’ Views and Preferences on Hedge Fund Operational Infrastructures

- p5 FSA Clarification on RDR Passporting Issues

- p5 Private Equity: Good Practice Reporting by Portfolio Companies

- p6 Tax Transparent Funds

- p6 FSA Secures High Court Orders Against Unauthorised Land Banks

- p6 Home Office Plan for National Crime Agency: Financial Services Implications

- p7 Draft Regulations Implementing UCITS IV

- p7 Government Consults on Amending Money Laundering Regulations 2007

- p7 FSA “Dear CEO” Letter Following Wealth Management Review

- p8 FSA Updates Guide to the EU and Its Legislative Processes V

- p8 HM Treasury White Paper and Draft Parliamentary Bill of the New UK Regulatory Structure

- p9 Near-Final Draft FSA Handbook Rules and Guidance Implementing UCITS IV

- p9 Chancellor of the Exchequer Endorses ICB Retail Banking Proposals in Mansion House Speech

- p9 FSA Announces £54m Payment Scheme of CF Arch Cru Investors

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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