Asset Management

News & Analysis as of

This Week In Securities Litigation (Week ending August 21, 2015)

The Commission filed a settled FCPA action this week centered on hiring relatives of foreign officials tied to a sovereign wealth fund. In addition, the agency filed two actions involving Citigroup – one based on the market...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Capital Markets Union - New Resolution from European Parliament - The European Parliament published a press release on 9 July 2015 announcing the adoption of a non-binding resolution on building a capital markets union...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Tax Proposals in Summer 2015 Budget to Affect UK Asset Managers - The UK Summer Budget was announced on 8 July 2015, and included a number of unexpected tax proposals affecting the UK asset management industry, including...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

CCSF Lifts Suspensions on Trading in Certain Financial Instruments in Relation to Greece - Following recent developments concerning the situation in Greece, the Commission de Surveillance du Secteur Financier (CSSF) has...more

SEC- BNY Mellon Settle FCPA Charges Tied To Hiring Relatives of Officials

The SEC has been investigating sovereign wealth funds and issues relating to the hiring of friends and family of foreign officials for some time. Now it has filed a settled action centered on both of those issues which...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Luxembourg Holds Presidency of the Council of the EU for 12th Time One of Luxembourg’s priorities, as it takes on presidency of the Council of the European Union, is to stimulate investment to boost growth and...more

The 15(c) Process Continues to be a Focus of the SEC Enforcement Staff

Two recent SEC Enforcement Division administrative settlements reinforce the importance for fund boards of directors and fund advisers to maintain a robust annual advisory contract renewal process....more

UK Partnerships – Proposed Collective Investment Scheme Legislation Amendments

On July 23, as part of the proposals announced in the Summer Budget by the Right Honourable George Osborne MP, UK Chancellor of the Exchequer, Her Majesty’s Treasury published a paper (Consultation Paper) in which certain...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Finance Ministry Proposes Changes to German Fund Taxation - The draft bill proposed by the Finance Ministry for discussion purposes contains significant changes to the German tax environment regarding funds and...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

AMF Publishes 2015 Risk Mapping - The AMF published its 2015 mapping concerning the main risks affecting the financial markets and analysing highlights statements regarding market developments and financing of the...more

SEC Issues Settled Enforcement Action Against Investment Adviser, its President and Senior Officers for Compliance Program...

The U.S. Securities and Exchange Commission (SEC or Commission) issued a cease and desist order (Order) on June 23, 2015, against Pekin Singer Strauss Asset Management Inc. (Adviser), an investment adviser registered under...more

Financial Entity Update: The CFTC’s Proposed Margin Rules for Uncleared Swaps – Know Thyself

To clarify our intended audience, in the Financial Entity Update we will address issues germane to entities that trade swaps but are neither dealers nor commercial end users. This includes a broad and diverse group of...more

Recent Cases of Interest to Fiduciaries

In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

AIFMD – AIMA and EFAMA Comment on EBA Consultation on Draft Guidelines on Remuneration Policies for AIFMs - AIMA and EFMA published their response to the EBA’s consultation on draft guidelines on sound remuneration...more

ESMA Updates Q&A on the AIFMD

On July 21, the European Securities and Markets Authority (ESMA) published an updated questions and answers (“Updated Q&A”) on the application on the Alternative Investment Fund Managers Directive (AIFMD). The Updated Q&A...more

Trends for Early-Stage Investing in Emerging Managers

The current environment for early-stage investing with emerging managers reflects an increasing number and variety of early-stage investments firms, an increasing pool of talented emerging managers, and a growing number and...more

SFC Reports Hong Kong’s Growth As International Investment Hub

As the Chinese stock market continues to spiral down, news agencies continue to report on the efforts of the government to abate the crash. In contrast, the Securities and Futures Commission of Hong Kong is reporting another...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

FCA and PRA Finalise New Remuneration Code for “Dual-Regulated” Firms - The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published a joint policy statement (FCA PS15/16 and PRA PS12/15)...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Suspension from Trading of Certain Financial Instruments Apropos Greece - Following a decision of the Hellenic Capital Market Commission (HCMC), the competent authority of Greece, to suspend the trading of certain...more

SEC’s Proposed Modernized Reporting Regime: Effects on ETF Sponsors

The U.S. Securities and Exchange Commission (SEC) on May 20, 2015 unanimously approved proposed rules, forms and amendments that are intended to modernize and enhance the reporting and disclosure of information by investment...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Central Bank Update Concerning Fund Management Company Boards The Central Bank has published a document in relation to Fund Management Company Boards including a feedback statement on CP86 and a new consultation on...more

Financial Services Quarterly Report - Second Quarter 2015: Is the Long Wait Worth it? European Long-Term Investment Funds (ELTIFs)...

The long-awaited European regulation on European long-term investment funds (ELTIF Regulation) was finally published in the Official Journal of the EU on May 19, 2015. The ELTIF Regulation will offer fund managers a new label...more

Financial Regulatory Developments Focus - July 2015 #4

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Financial Regulatory Developments Focus - July 2015 #3

In this issue: - US Federal Deposit Insurance Corporation Issues Notice of Proposed Rulemaking to Revise How Small Banks are Assessed for Deposit Insurance - UK Prudential Regulation Authority Consults on...more

Financial Services Quarterly Report - Second Quarter 2015: U.S. FSOC and Global FSB Signal Continued Scrutiny of Financial...

In recent months, both the U.S. Financial Stability Oversight Council (FSOC or Council) and the international Financial Stability Board (FSB) have taken actions signaling their continued interest in evaluating the potential...more

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