This publication maps out key current areas of legal or regulatory change that are of specific relevance for institutional asset managers. These focus areas are arranged thematically, by those that affect managers or management, and those that are more impactful at the fund level. While each area is unique, some common policy drivers and themes are apparent including long termism, managing systemic risk, and value for money. Some issues will require asset managers to comply with new rules or requirements. Others offer an opportunity to participate in an evolving discourse and a chance to contribute to and shape developments in a given area. In each case, senior management should keep abreast of and engage with the key policy drivers and areas of change relative to their impact on the firms they are responsible for.