Brexit notwithstanding, the United Kingdom implemented MiFID II locally, on time; however, FCA deferred the opportunity to assist industry by clarifying the implications of the new research payment regime for global asset...more
The European Securities and Markets Authority foresees regulatory and arbitrage risks in Brexit and has issued an opinion as a practical tool to help achieve supervisory convergence among EU regulators—Brexit negotiations...more
The MiFID II regime will have significant ramifications for US investment managers and their use of client commissions to obtain research—especially as cross-border impacts have yet to be addressed by global regulators....more
FCA proposes enhanced disclosure requirements for derivatives being marketed to retail investors who may not be aware of the risks.
Concerned that more and more retail customers are offering and trading...more
On 18 November 2016, the UK’s Financial Conduct Authority (FCA) published interim findings from its year-long study of the country’s asset management sector—concluding that price competition is weak in several areas, and...more
While the swirl of day-by-day posturing, partisan commentary, and reluctance of the UK and EU authorities to reveal their negotiating hands make it challenging to discern probable routes forward and plan accordingly, there is...more
11/4/2016
/ AIFMD Passport ,
EMIR ,
EU ,
EU Single Market ,
Financial Services Industry ,
Member State ,
Passporting ,
Prospectus ,
UCITS ,
UK ,
UK Brexit
Companies trading on either the London Stock Exchange’s Main Market or AIM should ensure that their systems and procedures reflect changes to their disclosure and other obligations arising from the implementation of the new...more
10/24/2016
/ AIM ,
Disclosure Requirements ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Investor Protection ,
London Stock Exchange ,
Market Abuse ,
PDMR ,
Share Buybacks ,
UK
ESMA sees no significant obstacles to extending the AIFMD passport to nine key countries.
The European Securities and Markets Authority (ESMA) has published advice to the European Commission, the European Parliament, and...more
7/21/2016
/ AIFMD Passport ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
ASIC ,
Australia ,
Bermuda ,
Canada ,
Cayman Islands ,
CIMA ,
EU ,
EU Passport ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Hong Kong ,
Island of Guernsey ,
Japan ,
Member State ,
Monetary Authority of Singapore ,
Singapore ,
Switzerland ,
UCITS
The new regime shares the same aims as its predecessor—to ensure the integrity of EU financial markets and enhance investor confidence—and keeps pace with market developments such as new trading platforms, new technology, and...more
7/11/2016
/ AIM ,
Burden of Proof ,
Disgorgement ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Extraterritoriality Rules ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
FSMA ,
Insider Trading ,
Market Manipulation ,
Market Participants ,
Member State ,
MiFID II ,
UK ,
UK Brexit
The FCA has found that client hospitality events do not always enhance the quality of service to clients in line with its inducement rules....more
Should Britain decide to leave both the EU and EEA as a result of a “Brexit” vote on 23 June 2016, the impact on UK and EU financial services firms could be significant.
The City of London is Europe’s key financial...more
3/9/2016
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EU ,
European Banking Authority (EBA) ,
European Economic Area (EEA) ,
Financial Services Industry ,
Investment Management ,
MiFID ,
Referendums ,
UCITS ,
UK ,
UK Brexit