The Commission de Surveillance du Secteur Financier (CSSF) issued a circular on 23 August 2018 (Circular), which consolidates into one document the requirements for Luxembourg UCITS management companies, self-managed UCITS,...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s approach to authorisation; action taken on closet tracking funds; proposed EU...more
3/22/2018
/ Asset Management ,
Broker-Dealer ,
Collective Investment Schemes ,
Cross-Border Transactions ,
Distribution Rules ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Stability Board ,
Investment Funds ,
Member State ,
MiFID II ,
Surveys ,
UK
A compact summary of the most recent regulatory developments relevant to the UK asset management industry.This issue includes details of proposed changes to the Financial Services Register to accommodate the Senior Managers...more
3/14/2018
/ Asset Management ,
Certification Requirements ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
FinTech ,
Legal Entity Identifiers ,
Libor ,
MiFID II ,
Secured Overnight Funding Rate (SOFR) ,
Senior Management Regime (SMR) ,
Senior Managers ,
SMCR ,
Sterling Overnight Index Average (SONIA) ,
UK
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of an FCA report on algorithmic trading; the publication of the FSMA (Benchmarks)...more
2/22/2018
/ AIFs ,
Algorithmic Trading ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Benchmarks ,
EMIR ,
ESRB ,
EU Benchmark Regulation ,
EU Data Protection Laws ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FSMA ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
IOSCO ,
Liquidity ,
Market Conditions ,
MiFID II ,
Over The Counter Derivatives (OTC) ,
Prudential Regulation Authority (PRA) ,
Risk Controls ,
UCITS ,
UK
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
2/7/2018
/ Asset Management ,
Blockchain ,
Bulgaria ,
Capital Markets Union ,
Collective Investment Schemes ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
IOSCO ,
Key Information Document (KIDs) ,
Liquidity Risk Management Rule ,
MMF ,
Money Market Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Risk Management ,
UK ,
UK Brexit
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the publication of delegated regulations under the Benchmark Regulation; a call for...more
1/24/2018
/ Asset Management ,
Benchmarks ,
European Commission ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Liquidity ,
MiFID II ,
MiFIR ,
Money Market Funds ,
Regulatory Oversight ,
Retail Investors ,
Technical Standards ,
Transparency Directive ,
UK
Following the UK’s decision to leave the EU, asset management firms of all types and sizes will need to conduct a thorough analysis to understand the potential impact of Brexit. To date, this has been something of a difficult...more
1/12/2018
/ AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Cross-Border Transactions ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
MiFID II ,
UCITS ,
UK ,
UK Brexit
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the matters to be considered by users of financial benchmarks when selecting an...more
1/11/2018
/ Asset Management ,
Benchmarks ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
IOSCO ,
Legal Entity Identifiers ,
MiFID II ,
MiFIR ,
UK ,
UK Brexit ,
WTO
A compact summary of the most recent regulatory and tax developments relevant to the UK asset management industry. This issue includes details on ESMA’s updated Q&As on the key information document requirements for PRIIPs;...more
11/29/2017
/ Autumn Statement ,
Commercial Real Estate Market ,
Corporate Taxes ,
Derivatives ,
EMIR ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Hedge Funds ,
HMRC ,
IOSCO ,
Key Information Document (KIDs) ,
Legal Entity Identifiers ,
MiFID II ,
Money Market Funds ,
Non-Resident Income Taxes ,
Over The Counter Derivatives (OTC) ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Real Estate Investments ,
Tax Reform ,
UK
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on the amendments to the European Venture Capital and Social Entrepreneurship Fund...more
11/16/2017
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Capital Markets Union ,
Code of Conduct ,
Digital Currency ,
EU ,
EU Benchmark Regulation ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
MiFID II ,
MiFIR ,
Regulatory Oversight ,
Small and Medium-Sized Enterprises (SMEs) ,
Tax Evasion ,
UK ,
Venture Capital ,
Virtual Currency
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on SEC’s no action letters and Commission’s FAQs on “hard dollar” research payments under...more
11/1/2017
/ AIFs ,
Asset Management ,
Broker-Dealer ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Investment Firms ,
Investment Funds ,
MiFID II ,
No-Action Letters ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Passporting ,
Securities and Exchange Commission (SEC) ,
Securities Financing Transactions (SFTs) ,
SFTR ,
SMCR ,
UCITS ,
UK
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on US-EU equivalence of certain OTC derivative rules; the FCA asset management...more
10/18/2017
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Benchmarks ,
Derivatives ,
ETFs ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Legal Entity Identifiers ,
MiFID II ,
MiFIR ,
Over The Counter Derivatives (OTC) ,
UCITS ,
UK
The European Securities and Markets Authority (ESMA) has published its 2018 Work Programme (the Programme), which sets out ESMA's priorities and areas of focus for 2018. Supervisory convergence and the assessment of risks are...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on ESMA's updated Q&As on the Benchmark Regulation and European Commission delegated...more
10/7/2017
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Benchmarks ,
Capital Markets Union ,
Commodities ,
Derivatives ,
ELTIF ,
EMIR ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
MiFID II ,
MiFIR ,
Regulatory Agenda ,
Social Entrepreneurship ,
UCITS ,
UK ,
UK Criminal Finances Act 2017 ,
Venture Capital