FCA issues further guidance on Brexit preparations -
The FCA has published a series of guidance to assist regulated firms in finalizing their preparations for Brexit, particularly in the event of a no-deal scenario when EU...more
3/15/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
CFTC ,
Commodities Traders ,
Derivatives ,
EU ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Agencies ,
Investment Funds ,
Memorandum of Understanding ,
MiFID ,
MiFID II ,
New Guidance ,
UCITS ,
UK Brexit
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
FCA issues statements on distributed ledger technology -
The FCA published a feedback statement in December 2017 regarding its April 2017 discussion paper on distributed ledger technology (DLT), or blockchain....more
2/1/2018
/ Asset Management ,
CEOs ,
Distributed Ledger Technology (DLT) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Initial Coin Offering (ICOs) ,
Investment Funds ,
MiFID II ,
New Guidance ,
Retail Investors ,
UK
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
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
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
Brexit - House of Commons Library Publishes Briefing Paper on the "Great Repeal Bill" -
The House of Commons Library published a briefing paper on 21 November 2016 on Legislating for Brexit, including in particular on...more
12/29/2016
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Investment Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Remuneration ,
The Great Repeal Bill ,
UCITS ,
UCITS V ,
UK ,
UK Brexit
Where are we on implementation? Are we nearly there yet?
Yes and no. The UCITS V directive comes into force on 18 March 2016. But:
Additional implementing rules (known as "Level 2") on the duties of UCITS...more
FCA Scraps New RDR Rules for Nominees to Pass on Fund Information and Voting Rights on FCA Authorised Funds to Beneficial Owners -
The FCA board agreed on 30 July 2015, to revoke certain new rules and guidance in its...more
9/21/2015
/ Asset Management ,
Derivatives ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Investment Funds ,
MiFID II ,
Retail Market ,
Roundtable ,
UK
UCITS: New KIID Q&A -
ESMA published revised Q&A’s on the KIID on 26 March 2015. The Q&A includes a new question on the treatment of past performance information in case of fund mergers....more
4/28/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Investment Funds ,
Memorandum of Understanding ,
MiFID II ,
Money Market Funds ,
Shadow Banking ,
Singapore ,
Swaps ,
UCITS
EMIR: Non-Deliverable FX Forwards and Interest Rate Swap Clearing -
Non-deliverable FX forwards -
ESMA confirms that EMIR clearing requirements will not apply to non-deliverable FX forwards, though reserves its...more
4/2/2015
/ Benchmarks ,
Capital Markets ,
Crowdfunding ,
EMIR ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
FX Forwards ,
Interest Rates ,
Investment Funds ,
MiFID II ,
Swap Clearing
FCA Study on Competition in Investment and Corporate Banking Services -
The FCA has announced plans to launch its first wholesale market study into investment and corporate banking to assess whether competition in the...more
EU Passes New Council Directive to Implement “EU-FATCA" -
The Council Directive passed by the EU on 1 December 2014 implements the OECD’s Common Reporting Standard (CRS) in Europe. The Directive has to be implemented...more
3/10/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Benchmarks ,
CCPs ,
EIOPA ,
EMIR ,
ETFs ,
EU ,
European Securities and Markets Authority (ESMA) ,
FATCA ,
Insolvency ,
Investment Funds ,
MiFID II ,
Money Market Funds ,
Regulatory Agenda ,
Sovereign Debt ,
Swap Clearing ,
Swaps ,
UCITS
The European Securities and Markets Authority (ESMA) published its long-awaited final report (the Report) on 1 October 2013, setting out detailed guidelines relating to (i) the reporting obligations under Articles 3(3)(d) and...more