Welcome to the second edition of our Horizon Scan for 2024: key recent and expected funds, regulatory, and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more
5/24/2024
/ Climate Change ,
Cross-Border ,
Disclosure Requirements ,
EU ,
False Claims Act (FCA) ,
Fund Managers ,
Investment Funds ,
Private Funds ,
Private Investment Funds ,
Regulatory Standards ,
Reporting Requirements ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Transitional Arrangements ,
UK
The UK Financial Conduct Authority (FCA) has just announced its first authorisation of a Long Term Asset Fund (LTAF). We have written about the FCA’s increased focus on continuing access by retail investors to wholesale or...more
In our previous client alert, The UK Consumer Duty: Next Steps for Private Fund Managers, we explored the new consumer duty rules contained in PS22/9: A new Consumer Duty. As we noted, the duty applies to managers who provide...more
2/8/2023
/ Alternative Investment Funds ,
Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Protection Laws ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
Private Funds ,
Retail Investors ,
UK
In a previous client alert (New Risk Warning Rules for UK Private Fund Managers: Action Required), we discussed the rules governing the main risk warnings for financial promotions of high-risk investments, which came into...more
In our previous client alert, we mentioned the need for managers to review new rules contained in PS22/10, published by the UK Financial Conduct Authority (FCA). The rules governing the main risk warnings for financial...more
In our previous Client Alert, Back to Work: The FCA's 2022-23 Priorities for Private Fund Managers, we mentioned the need for managers to consider the new consumer duty rules contained in PS22/9: A new Consumer...more
SCOPE -
On 2 August 2021, The European Securities and Markets Authority (“ESMA”) published the Guidelines on Marketing Communications (the Guidelines) under the regulation on cross-border distribution of funds, which...more
1/26/2022
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Cross-Border ,
EU ,
European Securities and Markets Authority (ESMA) ,
Fund Distribution ,
Fund Management Companies ,
Fund Managers ,
Investors ,
Marketing ,
UCITS ,
Venture Capital
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
12/10/2021
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Disclosure Requirements ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Fees ,
Fund Managers ,
Investors ,
Loan Origination Funds ,
Member State ,
Portfolio Managers ,
Proposed Amendments ,
Reporting Requirements
The UK Government and the Financial Conduct Authority (FCA) have decided to replace the existing Approved Persons Regime with a new Senior Managers and Certification Regime. This will have significant implications for all UK...more
Separate account managers and fund managers in the EU will need to comply with the regulatory rules under the new Markets in Financial Instruments Directive (MiFID II) with effect from 3 January 2018. There has been...more
It has now been a full year since US and other non-EU managers of private funds became subject to the Alternative Investment Fund Managers Directive when seeking to market or sell funds in countries in the European Union. The...more