Basics of Impact Investing: A Conversation About Investment Policies and Evaluation Metrics For ESG Investors
Podcast: Federal Court Rejects Mutual Fund Fee Claims and Recognizes Market Realities
Insider Trading News - Ralph Siciliano discusses US v. Newman
Weaker deal flow and tighter profit margins are driving a wave of consolidation in the European non-performing loan servicer market - Europe’s non-performing loan (NPL) servicers—entities that collect payments and manage...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
The European Commission has chosen the path of regulation for crypto-assets. This is with the aim of supporting innovation and fair competition, and ensuring a high level of consumer and investor protection and market...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
On 2 August 2021, changes to fund marketing rules will come into effect in the European Union (“EU”). The revised rules (the “Marketing Rules”) amend the existing regime relating to the marketing of alternative investment...more
Regulation (EU) 2019/2088 of 27 November, 2019 on sustainability-related disclosures in the financial services sector, as amended by Regulation (EU) of 18 June, 2020 on the establishment of a framework to facilitate...more
With the transition period coming to an end by the end of 2020, many UK managers are questioning the implication of Brexit to the fundraising and management of Luxembourg-based funds. As forecasted in our previous market...more
As part of the EU’s strategy on climate change following the Paris Agreement of 2015, a number of EU regulations have been enacted in the past 12 months. From the fund management industry’s point of view, the two most...more
What is the law/regulation? Following a consultation that ran between May and June 2018, the European Commission published a draft delegated regulation in January 2019 (the “ESG Regulation”). The ESG Regulation amends the...more
German Federal Ministry of Justice and Consumer Protection published draft bill implementing the Directive (EU) 2017/828 as regards the encouragement of long-term shareholder engagement (“ARUG II”) - The Directive (EU)...more
Monitoring of promotional documentation: the AMF changes its approach regarding various financial products for private individuals - The Autorité des Marchés Financiers (the AMF, the French financial markets authority)...more
AFG issues template of PRIIPs KID for French Société Civile de Placement Immobilier - The Association Française de la Gestion Financière ("AFG") published for the benefit of its members a template of the PRIIPs Key...more
The European Securities and Markets Authority (“ESMA“) published an updated version on November 14, 2017, of its Q&As on data reporting under the Markets in Financial Instruments Regulation (Regulation 600/2014) (“MiFIR“). ...more
AMF - Update of the MiFID II guide for asset management companies - The Autorité des Marchés Financiers (the “AMF”, the French financial markets authority) updated its MiFID II Guide for Asset Management Companies on 6...more
The U.K. referendum vote to leave the European Union has focused attention on Brexit’s potential impact on the U.K.’s financial services industry. The U.K. is home to a wide array of asset managers, banks, insurers,...more
Brexit: UK Votes to Leave EU - The 23 June 2016 referendum on the UK’s continued membership of the EU resulted in a vote to leave the EU. Under the EU Treaty, the exit process should take at least two years. During...more
When implemented, revisions to the EU’s Markets in Financial Instruments Directive (MiFID II) will radically change the regulation of EU securities and derivatives markets, and significantly impact the investment management...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
The first item on the UCITS agenda for 2013 – the ESMA Guidelines on ETFs and Other UCITS Issues (the “Guidelines”) – has gone live. This article provides an update and clarity around the recently finalised Guidelines2 since...more