Podcast: ESMA Report: Undue Pressure on Companies
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
On 10 October 2022, the European Commission (the “Commission”) published a long-awaited report on the Securitisation Regulation (the “Commission Report”). Among other things, the Commission Report responded to a request by...more
As the Alternative Investment Fund Managers Directive (“AIFMD”) was being developed prior to 2011, there were serious concerns across the funds industry that it might force managers to set up their funds offshore to avoid the...more
A recent exchange of letters between the European Commission and ESMA and AIMA has confirmed that non-EU AIFs (irrespective of manager location) will not be subject to the SFTR reporting obligation, bringing welcome clarity...more
On Tuesday 28 May 2019, the EMIR Refit Regulation (the "EMIR Refit") was published in the Official Journal. Relevant entities now have only 19 days to prepare for some of the key changes, ahead of the go live date of Monday...more
Background - The Markets in Financial Instruments Directive (“MiFID II”) and the related Regulation (“MiFIR”) is the next big rewrite of EU legislation, due to take effect at the beginning of 2017. Although its greatest...more
On August 8, the European Securities and Markets Authority (ESMA) published official translations of its Guidelines on Reporting Obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the Alternative Investment Fund...more
CFTC Proposed Rule on Commodity Pools - On November 5, the CFTC issued a proposed rule that would require that all registered introducing brokers (IBs), commodity pool operators (CPOs) and commodity trading advisors...more
The U.K. Treasury recently published its response to its January 2013 consultation on transposing the EU Alternative Investment Fund Managers Directive (AIFMD). A revised draft version of the Alternative Investment Fund...more
The Alternative Investment Fund Managers Directive (the “Directive”) will introduce new regulatory reporting requirements for alternative investment fund managers (“AIFMs”) covered by the Directive. These will include all...more
In This issue: - A general round-up of key provisions in the AIFMD level 2 implementing regulations - Scope of the AIFMD - Timetable and transitional relief - Cross-border marketing - Delegation and...more