Financial Services Europe and International Update: Regulatory Developments - August 2011 - Issue 10


In This Issue:

EU Regulatory Developments: p1 European Parliament Votes on EMIR, Short Selling and Investor Compensation Proposals; p1 ESMA Consults on AIFM Directive Implementing Measures; p2 European Commission Public Consultation on Social Investment Funds; p2 European Commission Initiatives for 2011: Update on Expected Adoption Dates of Financial Services Measures; p2 ESMA Consults on Guidelines on Systems and Controls for Highly Automated Trading; p3 ESMA Discussion Paper on UCITS Exchange-Traded Funds and Structured UCITS; p3 European Commission Publishes CRD IV Legislative Proposals; p6 EMIR: The Polish Presidency’s Further Compromise Proposal; p6 TARGET 2 Securities: Bank of England Decision; p6 Stress Tests in the Banking Sector: EBA Results of 2011 Tests; and, p7 European Commission Initiatives for 2011: Update on Adoption of Financial Services Measures.

UK Regulatory Developments; p7 Authorised Investment Funds:

Equalisation; p7 The FCA’s Approach to Regulation; p8 UCITS IV Implementation in the UK; p9 FSA Passporting Forms; p9 FSA Issues Modification by Consent to Authorised Fund Managers of NURSs; p10 Consolidated Version of FSMA Reflecting the Draft FS Bill; p10 Government Announces Timing for the Financial Services Bill Legislative Process; p10 Joint Committee Calls for Evidence on Financial Services Bill; p11 FSA Consultation on Guidance on Prominence of Financial Promotions p11 Prospectuses: Prospectus Regulations 2011; p11 FSA Financial Promotions Industry Update on EIS and VCT Investments; p12 Controlled Foreign Companies: HMT Consultation; p12 Unauthorised Unit Trusts: HMRC Consultation; and, p12 Finance Act 2011: Provisions of Interest to the Financial Services Industry.

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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