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
10/22/2019
/ AIFM ,
AIFMD Passport ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Central Bank of Ireland ,
Choice-of-Law ,
Contract Terms ,
Cross-Border Transactions ,
CSSF ,
EMIR ,
EU ,
EU Passport ,
EU-27 ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
Force Majeure Clause ,
Fund Managers ,
Income Taxes ,
Investors ,
ISDA ,
Luxembourg ,
Marketing ,
MiFID ,
No-Deal Brexit ,
Private Equity ,
Rome Regulation ,
SFTR ,
Third-Party Service Provider ,
Traders ,
Transitional Arrangements ,
UCITS ,
UK ,
UK Brexit
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
9/21/2018
/ AIFM ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Choice-of-Law ,
EMIR ,
EU ,
European Economic Area (EEA) ,
Financial Services Industry ,
Fund Managers ,
Investors ,
Marketing ,
MiFID ,
SFTR ,
Trading Plans ,
UCITS ,
UK Brexit
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 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
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
7/14/2016
/ AIFM ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
EU ,
Financial Conduct Authority (FCA) ,
FSMA ,
Investment Funds ,
MiFID ,
Portfolio Managers ,
Senior Managers ,
UCITS ,
UCITS V ,
UK ,
UK Brexit
The voters have spoken. Britain will (absent any new deals) leave the EU.
Under the EU Treaty, the exit process should take at least two years. During this two-year period, UK-based asset management entities, including...more
6/27/2016
/ AIFM ,
AIFs ,
Asset Management ,
EU ,
Foreign Investment ,
Member State ,
MiFID II ,
Referendum Votes ,
UCITS ,
UK ,
UK Brexit
Tax Proposals in Summer 2015 Budget to Affect UK Asset Managers -
The UK Summer Budget was announced on 8 July 2015, and included a number of unexpected tax proposals affecting the UK asset management industry, including...more
8/20/2015
/ AIFs ,
Asset Management ,
Benchmarks ,
Carried Interest ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Investment Funds ,
Limited Partnerships ,
Retail Market ,
Tax Policy ,
UK
Tax: HMRC Publishes Filing Dates for New AIFM Mechanism for Partnership Deferred Remuneration Arrangements -
The Finance Act 2014 introduced a provision intended to help partnerships (including LLPs) that are AIFM...more
4/23/2015
/ AIFM ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Business Taxes ,
Corporate Governance ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
HMRC ,
Investment Companies ,
Investment Funds ,
MiFID II ,
Partnerships ,
UK