SEC Approves New Rules to Address Run Risks in Money Market Funds
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
Selected regulatory updates of interest to the funds and asset management sector. This edition reports on UCITS liquidity risk management and the EU MMF Regulation. ...more
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
The European Securities and Markets Authority has published a statement confirming that the 2019 Guidelines on stress test scenarios under the Money Market Funds Regulation will be updated by the end of 2020 to reflect...more
Role of investment managers in post-COVID-19 recovery: FCA speech - The UK Financial Conduct Authority (FCA) has published a speech by Christopher Woolard, FCA Interim Chief Executive, on the role of investment managers in...more
Recent regulatory developments of interest to the funds and asset management sector. Other key updates are included in our Financial institutions general regulatory news in the related materials margin....more
The European Securities and Markets Authority has published, in an economic report, a stress simulation framework for investment funds, which is intended for use by national regulators...more
Parliament Adopts Law on Register of Beneficial Owners - Parliament has adopted the law of 13 January 2019 establishing a register of beneficial owners....more
Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 - The Government of Ireland approved the general scheme of drafting of the Criminal Justice (Money Laundering and Terrorist Financing)...more
Money Market Funds - The AMF published a guide describing the main impacts of the application of the MMF Regulation, as well as the details of the authorization procedures specific to such money market funds, notably...more
In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
Parliament adopts general data protection law - Parliament has adopted the law of 1 August 2018 on the organisation of the National Commission for Data Protection and implementation of Regulation (EU) 2016/679 of the...more
Grand Ducal Regulation on CSSF fees published - The Grand Ducal Regulation of 2 July 2018 amending the Grand Ducal Regulation of 21 December 2017 on fees levied by the Commission de Surveillance du Secteur Financier....more
AMF publishes Q&A concerning money market funds ("MMF") - In time for MMF Regulations’ entry coming into force on 21 July 2018, the Autorité des Marchés Financiers (the French financial markets regulator) issued a guide on...more
MIFID II – end of “no LEI” exemption for transaction reporting; ESMA takes stock of MiFID II achievements - ESMA confirmed on 20 June that the current exemption from using Legal Entity Identifiers for certain transactions...more
FCA comments on increased use of “Periodic Auctions” after-MiFID II - The FCA has published a webpage on the use of periodic auction platforms as a method for share trading in light of their significantly increased use...more
MiFID II update - The Autorité des Marchés Financiers continues to update its doctrine following the entry into force of MiFID II. As a result, on 26 June, the AMF published updated versions of 14 of its positions,...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the situation for financial services rules and regulations during the Brexit...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. In this issue we look at the extension of the PSC regime to Scottish limited partnerships and AIM listed companies,...more
Capital Markets Union - European Commission published a speech by EU Commissioner Jonathan Hill on 17 April 2015, in which he highlighted the benefits of the proposed CMU. Points of interest from the event include: ...more
UCITS: New KIID Q&A - ESMA published revised Q&A’s on the KIID on 26 March 2015. The Q&A includes a new question on the treatment of past performance information in case of fund mergers....more
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