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
The European Commission published its Retail Investment Package (the Package) in May 2023. The Package aims to streamline and modernise investor protection rules in EU laws, including the Alternative Investment Fund Managers...more
As the “most ambitious legislative proposal since the inception of EU financial regulation”, the changes would make significant amendments to MiFID II and PRIIPs. On 24 May 2023, the European Commission (Commission)...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
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
Today (25 November 2021) the European Commission (the Commission) released the results of its evaluation of the Alternative Investment Fund Managers Directive (AIFMD) which forms part of a Capital Markets Union legislative...more
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more
The package focuses on material sustainability reporting and disclosure obligations, as the EU looks to direct capital toward sustainable activities. On 21 April 2021, one day prior to Earth Day and a US-led global...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
Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more
The Luxembourg government and the CSSF recently have taken a number of measures to combat money laundering and terrorist financing. In other developments: the current Luxembourg Brexit laws will be rendered inapplicable by...more
This note sets out at a high level the potential impact of the United Kingdom’s (“UK”) exit (“Brexit”) from the European Union (“EU”) without a negotiated agreement on UK and European Economic Area (“EEA”) (a) alternative...more
Three questions relevant for UK managers still considering whether to apply or not. 1. We are a UK manager acting as portfolio manager based on a delegation from a Luxembourg AIFM or UCITS management company. Should we...more
FCA issues further guidance on Brexit preparations - The FCA has published a series of guidance to assist regulated firms in finalizing their preparations for Brexit, particularly in the event of a no-deal scenario when EU...more
With six months to go until the UK’s departure from the EU, Dechert’s ‘Brexit Manoeuvres’ guide sets out at a high level, from a UK perspective, the practical implications of a “hard Brexit” as it relates to: - Alternative...more
Central Bank Updates AIF Rulesbook for Loan Origination QIAIFs - The Central Bank released on 14 March an updated AIF Rulebook with amendments in relation to Loan Originating Qualifying Investor Alternative Investment...more
The Department of Finance has issued its Feedback Statement on its public consultation on national discretions under MiFID II. The consultation dealt with the exercise of national discretions in relation to the implementation...more
One likely impact of the decision of the United Kingdom (UK) to leave the European Union (EU) is that the UK’s financial services industry will lose automatic rights of access to the EU’s free trade area (the Single Market)...more
On January 12, 2017, the ESMA published an opinion on the impact of exclusion of fund management from the entire scope of MiFIR (Markets in Financial Instruments Regulation) (Regulation 600/2014). Although, under...more
The European Banking Authority published a discussion paper on the design for a new framework for applying prudential standards to non-bank investment firms that are not deemed to be systemically important...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
The Council of the European Union on 13 May 2014 formally endorsed a new regulatory regime that will replace the current Markets in Financial Instruments Directive (MiFID), which has been in force since 2007. The new...more
SEC Approves IEX Proposal to Launch National Exchange, Issues Interpretation on Automated Securities Prices - On June 17, 2016, the Securities and Exchange Commission ("SEC") approved the application of Investors'...more
The European Union (EU) is made up of 28 member states committed, through a series of treaties, to ever closer economic and political union. As such it exercises considerable power, both internally and internationally. It is...more