The Preferred Return Podcast | AIFMD II – Implementation Begins
Investment Management Update - January 2015
The European Market Infrastructure Regulation (EMIR) data reporting requirements apply to European Union (EU) funds and EU fund managers. UK EMIR imposes reporting requirements on UK funds and UK managers. The reporting...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in December 2023: 21 December - UK / Swiss Regulatory...more
Welcome to the July – September 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter, such...more
Welcome to the January – March 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter under...more
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
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
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
Following an assessment by the European Commission (the Commission) of how the European Market Infrastructure Regulation (EMIR) has been working since it entered into force on 16 August 2012 and the phasing in of its various...more
The EU proposals to amend technical aspects of the European Market Infrastructure Regulation (EMIR), known colloquially as ‘EMIR 2.1’ or ‘EMIR Refit’, have been politically agreed. The final text is likely to be published in...more
AIFMD – ESMA issues draft guidelines on liquidity stress testing in UCITS and AIFs - On February 5, ESMA issued a consultation paper on issuing liquidity stress test guidance for investment funds. The draft guidelines aim...more
MoUs with the Financial Conduct Authority (FCA) - The Central Bank of Ireland has agreed a Memorandum of Understanding (MoU) on February 1, 2019 with the Financial Conduct Authority (FCA) of the United Kingdom (UK) on foot...more
On January 10, 2019, the European Commission (the “Commission”) published a Report on the Operation of the Alternative Investment Fund Managers Directive (Directive 2011/61/EU or “AIFMD”). ...more
Report concludes that the AIFMD has been helpful in building a market for AIFs, but is not free from issues. Key Points: ..The report concludes that the AIFMD has played a significant role in helping to create an...more
The political party conference season has now come to a close in the UK and there had been an expectation that Prime Minister Theresa May would have had some meaningful concession from the EU27 prior to her party conference...more
BREXIT - Please refer to the Insurance section for an update on LMA model clauses on Brexit and placing of risks after 1 January 2019. Please refer to the Other Developments section for an update regarding the FCA Chair...more
With six months to go until the UK’s departure from the EU, Dechert’s ‘Brexit Manoeuvres’ guide sets out at a high level, from a UK perspective, the practical implications of a “hard Brexit” as it relates to: - Alternative...more
1 August - The Financial Conduct Authority ("FCA") published a statement on selling high-risk speculative investment products to retail clients, following the publication of the European Securities and Markets Authority's...more
AIFMD - ESMA updates AIFMD Memoranda of Understanding ("MoUs") - ESMA updated its list of MoUs on 17 July 2018, singed the EU regulatory authorities (17 July 2018) – Croatia and Slovenia are still to sign MoUs....more
Circular of the Central Bank of Luxembourg on statistical data collection for non-regulated AIFs - The Central Bank of Luxembourg published circular BCL 2018/241 entitled “New statistical data collection for non-regulated...more
AIFMD - Updated MoUs - ESMA updated its table of EEA regulators on 15 March with who has signed MoUs with non-EEA regulators, for the purposes of cross-border marketing of AIFs. Slovenia and Croatia are still to sign up...more
MiFID II – Member State Transposition and Updated Q&A on Market Transparency - The European Commission updated its webpage on 13 February 2018 setting out member state transposition of MiFID II....more
New edition of UCITS and AIFMD Q&As published by the Central Bank - The Central Bank recently published the 28th edition of AIFMD Q&A on the 2 January 2018. A number of new questions have been answered regarding the PRIIPS...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on ESMA's updated Q&As on the Benchmark Regulation and European Commission delegated...more
BREXIT - Brexit - EU (Withdrawal) Bill published - On 13 July, the DExEU published the European Union (Withdrawal) Bill (Bill), which: (i) repeals the ECA 1972; (ii) converts EU law into UK law where appropriate; and...more
2 May - The FCA published its Policy Statement on the FCA's disclosure rules following application of PRIIPs Regulation (PS17/6). The Policy Statement sets out how the FCA's disclosure requirements will change to reflect...more