From 1 August 2024, the UK changed its rules on how payments are made for investment research. UK firms may now use bundled payments for third-party research and trading commissions, subject to certain requirements being...more
Mit Meldung vom 25. Juli 2024 hat die BaFin mitgeteilt, dass sie die Leitlinien für Fondsnamen der Europäischen Wertpapier- und Marktaufsichtsbehörde (ESMA) in Ihrer Verwaltungspraxis berücksichtigen wird. Diese werden die...more
The European Securities and Markets Authority (“ESMA”) has published its Final Report on the Guidelines on funds’ names using ESG or sustainability-related terms (the “Guidelines”). ESMA was provided with the mandates to...more
On 14 May 2024 ESMA published its long-awaited guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). The Guidelines apply three months after the date of their publication on ESMA’s website...more
Welcome to the January – March 2024 issue of our Irish Quarterly Legal and Regulatory Developments report for Asset Management and Investment Funds. This report covers key developments during the quarter, such as: ...more
The text of the directive to amend the AIFMD (so-called AIFMD 2.0) was published in the Official Journal of the EU on 26 March 2024 and will enter into force on 15 April 2024. Member States have 24 months to transpose the...more
Die überarbeiteten Fassungen der AIFM- und der UCITS-Richtlinie stehen fest und sollen Mitte 2024 in Kraft treten. Die Mitgliedstaaten haben dann zwei Jahre Zeit zur Umsetzung. Änderungen sind insbesondere bei den Themen...more
In our previous alert AIFMD II (Near) Final Text Agreed: What’s New? and in our recent update in our Horizon Scan, we noted that the Council of the European Union (EU) had published the final compromise amending text setting...more
Q: What is DORA? “DORA” stands for the Digital Operational Resilience Act, an EU regulation that creates a new framework for the EU financial sector with regard to information and communications technology (ICT)....more
On 10 November 2023, the Council of the EU (the "Council") published the final compromise text of the political agreement (the "Agreement") for a directive1 amending the Alternative Investment Fund Managers Directive...more
BaFin has updated and expanded its "Questions and Answers" (Q&A) on the Sustainable Finance Disclosure Regulation (SFDR) and the Regulatory Technical Standards (RTS). In addition, BaFin published guidance on how the...more
On 28 July 2023, the law of 21 July 2023, which modernises the laws governing UCITS, Part II UCIs, SIFs, SICARs, RAIFs and Luxembourg asset managers, enters into force (the Law). ...more
Following its August 2022 consultation on the broader retail distribution of interests in a Long Term Asset Fund (LTAF), the FCA published its Policy Statement PS23/7 including final Handbook rules on 29 June 2023....more
As noted in our earlier OnPoint, on 25 November 2021, the European Commission (the Commission) adopted a package of measures that aimed to deliver on several key commitments in the 2020 Capital Markets Union action plan,...more
Background- European regulators have begun reviewing documentation and other information in connection with implementation of the EU’s Sustainable Finance Disclosure Regulation (SFDR)1 and the Taxonomy Regulation (RTS).2 On...more
The Luxembourg government published bill of law n°8183 (the “Bill”) on 24 March 2023 that amends five existing laws on alternative investment funds (“AIFs”) and alternative investment fund managers (“AIFMs”), namely the UCI...more
The European Parliament’s Committee on Economic and Monetary Affairs (the “ECON”) published February 2, 2023, proposed text of AIFMD 2. AIFMD 2 will both give certainty and take away flexibility for credit funds, in this...more
EU-Kommission, Parlament und Rat treten in die entscheidende Phase ihrer Beratungen über eine Neufassung der AIFM- und der UCITS-Richtlinie ein. Änderungen sind insbesondere bei den Themen Auslagerung, Darlehensfonds und...more
On 1 December 2022, the Central Bank of Ireland (the “Central Bank”) published its consultation paper CP152 on own funds requirements for UCITS management companies and AIFMs authorised for discretionary portfolio management...more
On 21 December 2022, ESMA published a final report in relation to draft technical standards for cross-border fund management activities and the cross-border marketing of investment funds within the EEA under the UCITS and...more
After some delay, the United Kingdom’s financial services regulator, the Financial Conduct Authority (the “FCA”) has published Consultation Paper CP 22/20 (Sustainability Disclosure Requirements (“SDR”) and investment labels)...more
Challenges create opportunities and the environmental and social challenges we currently face are no exception. In this paper we consider the opportunities provided by sustainable finance, and more specifically impact...more
On 1 August 2022, the following delegated acts, which complement the Sustainable Finance Disclosure Regulation 2019/2088 (SFDR) entered into force...more
The purpose of this Insights post is to consider some practical issues for alternative investment fund managers (“AIFMs”) when undertaking pre-marketing/marketing activities in the European Union following the...more
On 25 November 2021, the European Commission (the Commission) adopted a package of measures aimed to deliver on several key commitments in the 2020 Capital Markets Union (CMU) action plan. The package includes four...more