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Dechert LLP

Modernization of French Alternative Investment Funds: The Stakes of Ordinance No. 2024-662 Dated July 3, 2024

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The French Ordinance no. 2024-662 dated July 3, 2024, on the modernization of the regime governing alternative investment funds (the Ordinance) represents a major step forward. This has been long called in the Paris...more

Morgan Lewis

Changes to the VAT Exemption for the Management of Alternative Investment Funds

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The scope of application of the VAT exemption for the management of AIFs has been extended to all AIFs within the meaning of Section 1 (3) KAGB from 2024, meaning that the previously applicable similarity test no longer...more

Stikeman Elliott LLP

International Comparative Legal Guide – Alternative Investment Funds 2023: Canada

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1 Regulatory Framework - 1.1 What legislation governs the establishment and operation of Alternative Investment Funds? In Canada, the term “alternative investment fund” or AIF is not a term of art. Canadian...more

Cadwalader, Wickersham & Taft LLP

Moving into May, April 2023 - A Lender’s Perspective on Special Purpose Entities, Alternative Investment Vehicles and Qualified...

In order for fund credit parties to maintain flexibility for investments and meet the changing requirements of investor requirements (tax, ERISA, etc.), they often need to establish multiple investment vehicles to accommodate...more

Cadwalader, Wickersham & Taft LLP

On the Side February 2023 | Issue No. 209 - Irish Investment Limited Partnerships – Updates on the Revamped Regime and Comparison...

We are often asked by clients and non-Irish law firms in the context of fund finance transactions about using fund structures established under the revamped Irish Investment Limited Partnership (“ILP”) regime, and, in...more

Seward & Kissel LLP

AIMA Hedge Fund Confidence Index

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The AIMA Hedge Fund Confidence Index (HFCI) is a new global index which measures the level of confidence that hedge funds have in the economic prospects of their business over the next 12 months. A product of AIMA,...more

Hogan Lovells

Updates on Italy’s implementation of EU rules on cross-border distribution of UCIs

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Italian secondary legislation about to be adapted to EU standards - On 15 July 2021, the Italian Council of Ministers approved, in preliminary examination, a legislative decree introducing rules to adapt national legislation...more

A&O Shearman

Great Fund Insights: The Belgian "European Long-Term Investment Fund" (the ELTIF): A breakthrough?

A&O Shearman on

In Belgium, as in many other EU countries, the ELTIF has not gained a foothold partly due to the absence of an attractive tax regime....more

Jones Day

2021 Transactional Year in Review and 2022 Forecast: Transactional Perspectives on 2022

Jones Day on

What are the trends, risks, and opportunities in 2022?  As dealmakers recover from a record-breaking 2021, we expect another busy year in 2022. While risks in the financing market, the tightening of the regulatory...more

Proskauer Rose LLP

ESMA Guidelines on marketing communications for funds will start to apply

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On 2 February 2022, the new ESMA guidelines on marketing communications under the Regulation on cross-border distribution of funds (EU) 2019/1156) (“Guidelines”) will start to apply....more

A&O Shearman

Great Fund Insights: AIFMD Review Proposal Published: What are the key takeaways for asset managers?

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On 25 November, the European Commission published its long awaited AIFMD Review package including a proposal amending the AIFMD and the UCITS Directive on delegation, liquidity risk management, provision of depositary and...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] SFDR for Beginners

In this episode, the first in our three-part EU ESG Considerations for Beginners miniseries, Akin Gump financial regulatory partner Ezra Zahabi looks at the Sustainable Finance Disclosure Regulation (SFDR) and what it means...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Proposes Harmonisation of Fund Pre-marketing Rules, but Barriers Remain for Non-EU Sponsors

The European Union’s new cross-border fund distribution legislation comes into effect August 2, 2021, updating the existing framework for marketing alternative investment funds (AIFs) in the European Union (EU). The changes...more

Dechert LLP

New Pre-marketing Rules for Alternative Investment Funds in Germany

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On August 2, 2021, a new pre-marketing regime for alternative investment funds (AIFs) promoted and distributed in Germany will come into force with the Fund Domicile Act making changes to the German Capital Investment Code....more

Akin Gump Strauss Hauer & Feld LLP

UK Proposes New Climate-related Disclosure Rules for Asset Managers

The proposed disclosure rules applicable to UK investment managers have been published for comment by the UK’s Financial Conduct Authority (FCA). The rules focus on enhancing transparency on climate-related risks and align...more

Hogan Lovells

Funds and asset management regulatory news, June 2021

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UCITS funds: HM Treasury announces extension of PRIIPs exemption - HM Treasury has announced that the current exemption for Undertakings for the Collective Investment in Transferable Securities (UCITS) funds from the...more

Goodwin

New Pre-Marketing Obligations in Germany for AIFs Set to Take Effect in August

Goodwin on

On 28 May 2021, the German Legislator adopted new and stricter regulations on Alternative Investment Funds pre-marketing. These regulations will go into effect in August as an implementation of the Directive (EU) 2019/1160 on...more

Hogan Lovells

Funds and asset management regulatory news, May 2021 # 2

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EU cross-border distribution of funds: ESMA guidelines on marketing communications - Following its consultation in November 2020, the European Securities and Markets Authority (ESMA) has published a final report on...more

Proskauer Rose LLP

UK FCA consults on new Long Term Asset Fund

Proskauer Rose LLP on

The United Kingdom Financial Conduct Authority (“FCA”) has published a consultation on proposals relating to a new type of fund product to support investment in long-term, illiquid assets. The intention is that the Long Term...more

Hogan Lovells

Funds and asset management regulatory news, April 2021

Hogan Lovells on

Liquidity management in UK open-ended funds: BoE and FCA report - The Bank of England (BoE) and the Financial Conduct Authority (FCA) have published a report on liquidity management in UK open-ended funds. The report...more

Cadwalader, Wickersham & Taft LLP

Fund Finance – Positive Developments for Sponsors and Investors under Ireland’s Investment Limited Partnership 2.0 Regime

Why is this topic suddenly of interest? Irish Investment Limited Partnerships (“ILPs”) have been around since the introduction of the Investment Limited Partnership Act in 1994 (the “1994 Act”). Due to certain requirements...more

BCLP

Promoting UK funds – improving the tax treatment of asset holding companies in the UK

BCLP on

As part of an initiative to promote UK funds the government is proposing a beneficial new tax regime for asset holding companies (AHC) in investment fund structures. This is intended to make the UK a more competitive location...more

A&O Shearman

AIFMD Review – the key areas of focus for depositaries

A&O Shearman on

On 22 October 2020, the European Commission launched a public consultation on the review of the Alternative Investment Fund Managers Directive (the AIFMD Review). The public consultation follows the European Commission’s...more

Hogan Lovells

Funds and asset management regulatory news, October 2020 # 3

Hogan Lovells on

ESMA guidelines on liquidity stress testing in UCITS and AIFs: FCA comment - Among other things covered in its latest Regulation round-up, the UK Financial Conduct Authority (FCA) comments on the European Securities and...more

BCLP

European Commission's Review into AIFMD

BCLP on

The European Commission has published its long awaited report into the application and scope of AIFMD.  The report is generally positive and concludes that overall AIFMD has been successful in meeting its objectives....more

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