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Global Survey of ESG Regulations for Asset Managers

Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more

Global Survey of ESG Regulations for Asset Managers - ESG and the Sustainable Economy Handbook

Investment advisers offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental, social, and governance...more

UK Real Estate Ownership and the Implications of the Economic Crime (Transparency and Enforcement) Act

On 2 August 2023, the Register of Overseas Entities (ROE) update process went live. UK Companies House issued guidance on the requirements overseas entities will have to adhere to in their annual update of the ROE. Our...more

MiCA – Overview of the New EU Crypto-Asset Regulatory Framework (Part 3)

This is the final part of our series of alerts on the EU’s new Market in Crypto-assets Regulation (MiCA). In this part, we will discuss the authorisation regime under MiCA for specified crypto-asset services which is largely...more

MiCA – Overview of the New EU Crypto-Asset Regulatory Framework (Part 2)

This is Part 2 of a three-part series which examines the main elements of the new MiCA regime in the EU. As a recap, our discussion is based on the Compromise Text (published on 5 October), with references also made to the...more

MiCA – Overview of the New EU Crypto-asset Regulatory Framework (Part 1)

On 30 June 2022, the new EU Market in Crypto-assets Regulation (MiCA) was agreed on between the European Commission (Commission), the European Parliament (Parliament), and the Council of the European Union (Council). MiCA is...more

Real Estate Ownership and the Implications of the Economic Crime (Transparency and Enforcement) Act

The invasion of Ukraine by Russia has pushed forward a wider government agenda to encourage transparency in relation to how overseas entities own UK real estate. We first reported many years ago on the details of the...more

Brexit: Is the Clock Still Ticking for Asset Managers?

INTRODUCTION - On 24 December 2020, Michael Barnier, the European Union’s chief negotiator said, “The clock is no longer ticking”. Four and a half years after the Brexit referendum, the United Kingdom and the European Union...more

UK Payments Regulation – Changes Are Coming

On 28 January 2021, the Financial Conduct Authority (FCA) published a consultation paper (CP21/3)1 proposing various changes to the UK regulation of payment services and electronic money. Most of the proposed changes relate...more

New UK Requirements on Cross-Border Payments – "Onshoring" and Practical Issues

The Cross-Border Payments Regulation (EC) No 924/2009 (CBPR) is the EU legislation that sets out the principle of equality of charges for intra-EU cross-border euro payments and corresponding national payments within an EU...more

COVID-19: The United Kingdom’s Response to COVID-19: A Quick Guide for Global Investment Managers

The recent outbreak of the new coronavirus (“COVID-19”) has triggered a blizzard of actions from governments and regulators around the world. We recognize that it is very difficult to keep track of it all, and here, we offer...more

ESMA Releases Final Report on Liquidity Stress Testing for UCITS and AIFs

On 2 September 2019, the European Securities and Markets Authority (“ESMA”) published its final Guidelines on liquidity stress testing in UCITS and AIFs (the “LST Guidelines”). Managers will be required to amend their...more

New Rules Will Facilitate Cross Border Distribution of Certain EU-domiciled Funds in the European Union and Increase Transparency...

The European Parliament and Council of the EU have adopted a package of measures intended to standardise and improve the cross-border distribution of investment funds in the European Union (“EU”)....more

9/6/2019  /  AIFM , EU , Investment Funds , UCITS

First Step in European Commission Review of Alternative Investment Funds Rules

On January 10, 2019, the European Commission (the “Commission”) published a Report on the Operation of the Alternative Investment Fund Managers Directive (Directive 2011/61/EU or “AIFMD”). ...more

The UK Temporary Permissions Regime: Extension of passporting into the UK on a ‘no-deal’ Brexit

This alert is relevant in the context of a ‘no-deal’ Brexit only, although affected firms and fund managers may have to take certain actions before it is certain whether there will be a ‘no-deal’ Brexit. ...more

Overriding Interest Summer 2018

Welcome to the latest edition of Overriding Interest. Inside this issue: - Implementation of Beneficial Ownership Register for Overseas Owners and Buyers of UK Property Delayed until 2021 - Commercial Real Estate...more

Quick Link Guide for MiFID II Guidance

Changes to the MiFID II regulatory regime will impose new obligations on many global investment managers both inside and outside the European Union (“EU”). While the precise scope of these obligations will depend, in many...more

FCA Comments on the Extraterritorial Effect of MiFID II

In a letter to the Alternative Investment Management Association (AIMA) made available to AIMA members on Monday, August 7, the Financial Conduct Authority (FCA) responded to a request from AIMA seeking interpretation and...more

MiFID II Toolkit for Global Investment Managers

Changes to the MiFID II regulatory regime will impose new obligations on many global investment managers that, to date, have avoided substantive regulation in the European Union ("EU"). While the precise scope of these...more

UK Implements Changes to Beneficial Ownership Register Regime

On 26 June 2017 the Information about People with Significant Control (Amendment) Regulations 2017 (the "2017 Regulations") were brought into force. Key changes brought about by the 2017 Regulations include the...more

Overriding Interest

Welcome to the latest edition of Overriding Interest. Inside this issue: - The UK Government Proposes Innovative Transparency Requirements for Overseas Owners and Buyers of UK Property - Mees Update - Announcements,...more

The UK Government Proposes Innovative Transparency Requirements for Overseas Owners and Buyers of UK Property

On 5 April 2017, the then UK government published a Call for Evidence seeking views on the design of an innovative public register intended to show beneficial ownership of overseas legal entities ("overseas entities") that...more

Competition Law Threat to Active Fund Managers

SCM Direct ("SCM"), an investment manager based in the UK, has recently called for the Competition and Markets Authority ("CMA") and Financial Conduct Authority ("FCA") to investigate actively managed funds sector for alleged...more

Regulation on Wholesale Energy Markets Integrity and Transparency - Are You REMIT Compliant?

The regulatory and enforcement landscape of the European natural gas and electricity markets is changing considerably following the last stage in the implementation of the Regulation on Wholesale Energy Markets Integrity and...more

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