News & Analysis as of September 25, 2024

UK Brexit

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Upcoming Regulatory Initiatives Impacting Private Fund Managers - April 2021

Dechert LLP on 5/10/2021

This note sets out at a high level the core regulatory issues that are likely to impact fund managers in the coming months, including an overview of the key actions needed with regard to ESG, LIBOR and Brexit. The paper also...more

Changes to AIFMD Marketing Rules from August 2021 – How will these New Rules Impact Fund Managers?

Proskauer Rose LLP on 4/5/2021

On 2 August 2021, changes to fund marketing rules will come into effect in the European Union (“EU”). The revised rules (the “Marketing Rules”) amend the existing regime relating to the marketing of alternative investment...more

Navigable Challenges for Private Funds

Skadden, Arps, Slate, Meagher & Flom LLP on 3/3/2021

The negotiations that culminated in the establishment of the Trade and Cooperation Agreement (TCA) at the end of 2020 concluded with no meaningful agreement in relation to the provision of financial services between the...more

BCLP Spring Funds First Update

BCLP on 2/16/2021

Welcome to our Spring 2021 Funds First Update: a snapshot of some of the main developments and upcoming changes that we think will be of interest to fund managers, fund investors and to the funds sector as a whole. Despite...more

Regulation Round Up - December 2020

Proskauer Rose LLP on 1/11/2021

31 December - The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact...more

Brexit Update: Impact on Fund Managers from 1st January 2021 and Beyond

Proskauer Rose LLP on 1/11/2021

Background - On 31 January 2020, the United Kingdom (“UK”) officially exited the European Union (“EU”), an event more commonly referred to as “Brexit”. From 1 February 2020 to 31 December 2020 (the “Implementation...more

The End of the Brexit Transition Period: Compliance Requirements for UK Investment Managers and Advisers

Akin Gump Strauss Hauer & Feld LLP on 1/6/2021

On 24 December 2020, the government of the United Kingdom (UK) and the European Union (EU) reached a Trade and Cooperation Agreement (the “Agreement”) in advance of the end of the Brexit transition period (11:00 p.m. GMT on...more

Luxembourg Funds and Brexit: Update to UK Managers

Goodwin on 12/8/2020

With the transition period coming to an end by the end of 2020, many UK managers are questioning the implication of Brexit to the fundraising and management of Luxembourg-based funds. As forecasted in our previous market...more

Update To UK AIFMs Of Luxembourg Funds

Goodwin on 12/4/2020

Many UK managers are currently questioning the implication of Brexit to the fundraising and management of Luxembourg based funds. In particular, many query whether they may still today launch a new Luxembourg fund and act as...more

The Central Bank’s CP86 Day of Reckoning – What You Need To Know

Dechert LLP on 10/28/2020

For many in the Funds Industry, the issue on 20 October 2020 of the Central Bank of Ireland’s (the “Central Bank”) Industry Letter (the “Industry Letter”) relating to the Central Bank’s Thematic Review of Fund Management...more

Autumn Funds First Update

BCLP on 9/23/2020

Welcome to our Funds First Update: a snapshot of some of the main developments and upcoming changes that we think will be of interest to fund managers, fund investors and to the funds sector as a whole. Despite the...more

European ESG Disclosure Requirements for Asset Managers

Proskauer Rose LLP on 9/18/2020

A new European regime on sustainability-related disclosures in the financial sector will come into force from March 2021, after first being announced in 2018 during the European Commission’s Action Plan on Sustainable...more

Luxembourg Funds – Options for Non-EU Managers

Goodwin on 9/10/2020

Many managers identify and assess the key legal and commercial costs and benefits of AIFMD passports as well as the short- and long-term regulatory and operational implications of the management of the fund by an EU-based...more

ESMA Recommends Key Changes to the AIFMD

Proskauer Rose LLP on 8/31/2020

On 19 August 2020, the European Securities and Markets Authority (“ESMA”) published a letter (“Letter”) received by the European Commission (“Commission”) making several recommendations with regard to the Commission’s...more

Financial institutions general regulatory news, June 2020 #2

Hogan Lovells on 6/17/2020

Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more

What UK Authorized Firms Need to Know

Akin Gump Strauss Hauer & Feld LLP on 4/2/2020

In this episode recorded in late February, Akin Gump financial regulatory partners Helen Marshall and Ezra Zahabi, using Akin Gump’s recently published In Principle annual report as a springboard, discuss what U.K. authorized...more

Brexit Done? Eight Things UK Managers Need to Know About the Brexit Transition Period

Dechert LLP on 3/6/2020

Britain’s Prime Minister, Boris Johnson, secured victory in the December 2019 general election with a promise to “get Brexit done.” The UK duly left the European Union (EU) on 31 January, 2020, and the UK and the EU have...more

Brexit Update: Impact on Fund Managers from 31 January 2020 and Beyond

Proskauer Rose LLP on 1/31/2020

At 11pm (local time) on 31 January 2020, the United Kingdom ("UK") will leave the European Union ("EU"), an event often referred to as "Brexit". A transitional period will take effect as of this date and will last until 31...more

In Principle: 10 Things Authorised Firms Need to Know for 2020

Akin Gump Strauss Hauer & Feld LLP on 1/30/2020

Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more

Third-Country Firms Operating Cross-Border Into the EU - Upcoming Reform

Latham & Watkins LLP on 1/14/2020

Firms outside of Europe should be aware of planned upcoming changes to how they access European markets. Key Points: ..The EU legislators have been reviewing various financial services regimes and developing reforms...more

Brexit Manoeuvres: Potential Implications of a "Hard Brexit" for Fund Managers: A UK Perspective - October 2019

Dechert LLP on 10/22/2019

This note sets out at a high level the potential impact of the United Kingdom’s (“UK”) exit (“Brexit”) from the European Union (“EU”) without a negotiated agreement on UK and European Economic Area (“EEA”) (a) alternative...more

Key Emerging Regulatory Issues and Focus Areas for Institutional Asset Managers

Latham & Watkins LLP on 9/19/2019

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...more

Brexit – 5 days to go for applying for the Luxembourg transitional period

A&O Shearman on 9/10/2019

Three questions relevant for UK managers still considering whether to apply or not. 1. We are a UK manager acting as portfolio manager based on a delegation from a Luxembourg AIFM or UCITS management company. Should we...more

Brexit Update – Luxembourg’s Transitional Regime For UK Firms In ‘Hard Brexit’ Scenario

Proskauer Rose LLP on 8/20/2019

In early August 2019, the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (the "CSSF"), confirmed in a press release that it had opened an online portal to allow UK firms currently using a financial...more

AIFMD 2 has arrived!

Hogan Lovells on 8/8/2019

Pre-marketing and reverse solicitation of alternative investment funds in Europe. The European Commission originally announced a proposal for a supplementary AIFM Directive (AIFMD 2) approximately sixteen months ago. After...more

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