Podcast: ESMA Report: Undue Pressure on Companies
On 7 May 2024, ESMA published its call for evidence ("CfE") on the review of the Commission Directive (2007/16/EC) on UCITS Eligible Assets ("EAD"). The CfE follows the formal request from the European Commission (the...more
In March, the Council of the European Union published the Alternative Investment Fund Managers Directive (AIFMD II), aimed at harmonising the rules on delegation, reporting and liquidity management, together with bringing in...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
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...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
In this quarter's edition of the legal and regulatory report, we include a number of key outputs from ESMA, including its updates to Q&As on the application of the AIFMD and the UCITS Directive (outlined at sections 1.2 and...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
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
1.1 ESMA UCITS Q&A updates On 20 July 2022, ESMA published an updated version of its UCITS Q&As with the following new Q&As: Section X: Depository – new Q&As 7 and 8 on reconciliations; and - • Section XIII: Delegation...more
This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more
ANTITRUST AND COMPETITION - The European Commission Reviews Its Informal Guidance Notice - On 24 May 2022, the European Commission (Commission) launched a public consultation to gather feedback from interested parties on 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
"It can‘t go on like this!" This statement is not only made by the young people who pass by the windows of our office every Friday morning. In fact, this statement was already made binding by the Paris Climate Change...more
What is the law/regulation? As part of a number of regulatory initiatives being implemented in the European Union, under its action plan for financing sustainable growth, proposed amendments to AIFMD and the UCITS Directive...more
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
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
1 August - The Financial Conduct Authority ("FCA") published an insight article on artificial intelligence ("AI") in the boardroom. The article considers various AI-related issues in the boardroom....more
The EU sustainable finance market has developed organically, guided by voluntary but universally accepted principles. According to recent research, climate change could cost up to 19 per cent. of Global GDP by the end of...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
BREXIT - Please see the Consumer/Retail and Markets and Markets Infrastructure section for updates on various draft SIs published this week in anticipation of a hard Brexit and Trade associations' letter on temporary...more
European Commission Publishes Legislative Proposals on Sustainable Finance Which Impacts Asset Managers The EU Commission presented a package of measures on 24 May 2018, as a follow-up to its action plan on financing...more
As part of its work on creating a European Capital Markets Union, the European Commission has published a legislative package of amendments, comprising a proposed Regulation and a proposed Directive....more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of an FCA report on algorithmic trading; the publication of the FSMA (Benchmarks)...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on SEC’s no action letters and Commission’s FAQs on “hard dollar” research payments under...more