In recent years, there has been a noticeable increase in green products and the promotion of sustainable objectives across the financial services industry. For example, we have seen much discussion of green loans, green...more
2/13/2024
/ Banks ,
Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
France ,
Germany ,
Greenwashing ,
Investment Funds ,
SFDR ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more
10/21/2022
/ Anti-Money Laundering ,
Bank of England ,
Climate Change ,
Economic Sanctions ,
EU ,
FDIC ,
Financial Services Industry ,
Foreign Investment ,
NY Supreme Court ,
Pending Legislation ,
Risk Mitigation ,
Russia ,
UK
On 18 May 2022 a draft report on ‘AIFMD II’ was published, containing proposals by a rapporteur presented to the ECON committee. It sets out a list of suggested amendments to the European Commission (the Commission)’s draft...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
11/29/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Asset Management ,
Capital Markets Union ,
ELTIF ,
EU ,
EU Directive ,
European Commission ,
International Harmonization ,
Member State ,
MiFID ,
Proposed Legislation ,
UCITS ,
UK
On 3 November 2021 the FCA published a discussion paper (DP) seeking views on how best to introduce Sustainability Disclosure Requirements (SDR) for certain asset managers and FCA-regulated asset owners, as well as a...more
11/5/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Discussion Draft ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Product Labels ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
At our recent Funds First webinar we shared some technical and market issues and updates on a selection of key developments of impact for real estate funds. Our discussion covered the Long Term Asset Fund (LTAF) , the...more
9/27/2021
/ AIFM ,
Asset Management ,
Climate Change ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Investment Funds ,
Regulatory Requirements ,
REIT ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
Welcome to our Spring 2021 Funds First Update: a snapshot of some of the main developments and upcoming changes that we think will be of interest to fund managers, fund investors and to the funds sector as a whole. Despite...more
2/16/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Coronavirus/COVID-19 ,
EU ,
Financial Services Industry ,
Fund Management Companies ,
Fund Managers ,
HM Treasury ,
Investment Funds ,
Open-Ended Fund Companies (OFCs) ,
REIT ,
UK Brexit
ESMA has issued a stark reminder that reverse solicitation, where it can be used, has to be carefully managed and documented, and is an area of regulatory scrutiny and focus. This short note also takes stock on the EU27...more
1/14/2021
/ AIFM ,
AIFMD Passport ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
EU ,
EU Passport ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
MiFID II ,
Private Placements ,
Reverse Solicitation ,
Trade Agreements ,
UK
The European Commission (the Commission) has published its long-awaited Consultation on AIFMD. It covers a range of subjects, under the broad headings of authorisation/scope, investor protection, international relations,...more
Welcome to our Funds First Update: a snapshot of some of the main developments and upcoming changes that we think will be of interest to fund managers, fund investors and to the funds sector as a whole. Despite the...more
The European Commission has published its long awaited report into the application and scope of AIFMD. The report is generally positive and concludes that overall AIFMD has been successful in meeting its objectives....more
Following our previous update on the various regulatory responses to the Coronavirus crisis, we set out here a summary of the key developments that have materialised since. As we observed in our previous update, there are two...more
Under the Senior Managers and Certification Regime (“SMCR”), firms are required to identify and report to the FCA any instances of disciplinary action taken in relation to conduct that would amount to a breach of one of the...more
2/10/2020
/ Artificial Intelligence ,
Banking Sector ,
Blockchain ,
Bribery ,
Cartels ,
Corporate Governance ,
Corporate Misconduct ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Insurance Industry ,
Payment Systems ,
Risk Management ,
SMCR ,
Technology ,
UK ,
United Arab Emirates (UAE) ,
Whistleblower Protection Policies
Welcome to our Funds First Update. In this briefing we set out an overview of some of the main developments and upcoming changes that we think will be of impact to fund managers, fund investors and to the funds sector as a...more
2/6/2020
/ Alternative Investment Funds ,
Anti-Corruption ,
Anti-Money Laundering ,
Asset Management ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
Senior Managers ,
SMCR ,
UK Brexit
What is it?
The EU has finalised and issued a new framework for the prudential regulation of investment firms. It will set new classification for investment firms that will in turn determine which of the new capital...more
12/2/2019
/ AIFM ,
Banking Sector ,
Capital Requirements ,
Capital Requirements Directive IV (CRDIV) ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Firms ,
Investment Management ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Prudential Standards ,
Regulation Technical Standards (RTS) ,
UCITS ,
UK Brexit
In March 2018 the European Commission published a draft package of measures aimed at reducing barriers to the cross-border distribution of investment funds. The proposed approach involves aligning the rules between different...more
4/25/2019
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Capital Markets Union ,
Cross-Border ,
EU ,
European Commission ,
General Solicitation ,
Marketing ,
Money Market Funds ,
Policy Drafting ,
Private Placements ,
Proposed Legislation ,
Third Country Entities (TCEs) ,
UCITS ,
UK Brexit
The financial services industry is often referred to as the jewel in the crown of the UK, but as the possibility of a “no-deal” draws ever closer, what measures are being put in place to ensure that the financial services...more
3/6/2019
/ Cross-Border Transactions ,
EU ,
EU Directive ,
EU Passport ,
European Economic Area (EEA) ,
Financial Services Industry ,
Member State ,
No-Deal Brexit ,
UK ,
UK Brexit ,
Withdrawal Agreement
Welcome to our Funds First Update. Whilst a lot of focus at present is on Brexit and the uncertainties surrounding that process, there have been a great many other developments in the past few months that are of relevance to...more
2/28/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Anti-Money Laundering ,
Capital Gains ,
Corporate Governance ,
EU ,
Financial Services Industry ,
Investment Funds ,
Liquidity Coverage Ratio ,
MiFID II ,
MLD5 ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
SMCR ,
UK ,
UK Brexit