News & Analysis as of

Investment Funds Benchmarks

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2022

The Federal Reserve has adopted a final rule that provides benchmark replacement rates based on SOFR (Secured Overnight Financing Rate) for contracts governed by U.S. law that reference the overnight and one-, three-, six-,...more

Cadwalader, Wickersham & Taft LLP

Be Bold - January 2022 | Issue No. 159 - Four Bold Predictions for 2022

Hitting the year-end deadlines was hard. Your kind words eased that pain like a week’s vacation on a remote island with no wifi. I have saved every single one of those emails, texts and LinkedIn messages and filed them away...more

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - European Regulatory Initiatives

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AIFMD Marketing/Pre-marketing – Cross-border distribution of investment funds - Changes to EU law on the cross-border distribution of AIFs and UCITS came into effect on 2 August 2021. Following Brexit, UK AIFMs are out of...more

Eversheds Sutherland (US) LLP

The heat is on - Regulators step up pressure to implement LIBOR transition plans

Regulators are increasing pressure on financial institutions to demonstrate that they are proactively addressing the transition away from LIBOR.  On December 23, 2019, the New York State Department of Financial Services...more

White & Case LLP

Financial Regulatory Observer - December 2019: ESG investing: The sharpening teeth of disclosure

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How to stay ahead of the curve, minimize future costs of compliance and feed the growing demand from investors for responsible products and services - Environmental, social and governance (ESG) investing is accelerating...more

Dechert LLP

U.S. Treasury’s Benchmark TIC SHL Survey and Implications for Investment Managers

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In August 2019, the U.S. Department of the Treasury (Treasury) and the Federal Reserve Bank of New York (FRBNY) will conduct a benchmark survey of foreign residents’ holdings of U.S. issuers’ securities. The information will...more

Dechert LLP

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

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Law on benchmarks published - Parliament voted bill 7164 implementing certain provisions of Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial...more

Dechert LLP

New European Commission proposals aimed at promoting growth and investment in Europe

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The European Commission has proposed a series of reforms to strengthen and further centralise supervision of the European capital and financial markets at the EU level with the aim of creating stronger and more integrated...more

A&O Shearman

EU Authority Publishes Model Arrangements for Benchmark Colleges

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The European Securities and Markets Authority published Model Written Arrangements for Benchmark Colleges (dated September 30, 2016)...more

Orrick - Finance 20/20

European Parliament Adopts Final Text of Benchmark Regulation

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On May 3, 2016, the Council of the EU published the text of the proposed Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Benchmark...more

Dechert LLP

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

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Other EU developments – Benchmark Regulation and Changes to Prospectus Directive - ESMA issued a discussion paper on implementation of the Benchmarks Regulation on 15 February 2016. ...more

Dechert LLP

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

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UCITS Regulations 2016 Published - The Undertakings for Collective Investment in Transferable Securities Regulations 2016 (SI 2016/225) were published on 25 February 2016. These implement provisions of the UCITS V...more

Dechert LLP

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

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Other EU Developments – Deal Reached on Benchmark Regulation and Revisions to Prospectus Directive - Benchmark Regulation - The European Commission and the Luxembourg Presidency reached agreement with the...more

Dechert LLP

BEA’s BE-180 Benchmark Survey of Financial Services Providers: Implications for U.S. Asset Managers

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In the fall of 2015, the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) will administer its next Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign...more

Dechert LLP

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

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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

Dechert LLP

Investment Funds Update - Europe: Key legal and regulatory updates for the funds industry from the primary European asset...

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EMIR: Non-Deliverable FX Forwards and Interest Rate Swap Clearing - Non-deliverable FX forwards - ESMA confirms that EMIR clearing requirements will not apply to non-deliverable FX forwards, though reserves its...more

Dechert LLP

Investment Funds Update - Europe: Key legal and regulatory updates for the funds industry from the primary European asset...

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EU Passes New Council Directive to Implement “EU-FATCA" - The Council Directive passed by the EU on 1 December 2014 implements the OECD’s Common Reporting Standard (CRS) in Europe. The Directive has to be implemented...more

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