Regulatory Developments - This update summarises current regulatory developments in the European Union and the UK focusing on the investment funds and asset management sectors, during the past four weeks.
EU Regulatory Developments:
p1 ESMA 2012 Work Programme
p1 The Danish Presidency’s Work Programme to 30 June 2012
p2 Guidelines on Systems and Controls for Highly Automated Trading
p2 ESMA Consultation on MiFID Compliance Function Requirements
p2 ESMA Consultation on MiFID Suitability Requirements
p3 EMIR Negotiations Likely to Continue into 2012
UK Regulatory Developments:
p3 Discussion Paper on Instruments of Macroprudential Policy
p3 Court of Appeal Decision in Lehman Brothers Application Published
p4 Draft Financial Services Bill
p5 Protected Cell Company Regime – FSA Rule Changes
p5 ISAs: HMRC’s ISA Bulletin No. 41
p5 Provision of the KIID – FSA Letter to IMA
EU Member State National Developments:
p5 France: Finalisation of the Implementation Process of UCITS IV Under French Law
p5 France: Tax Reforms – Some Recent Changes
p7 Italy: New Tax Reporting Requirements for Funds Investing in Eligible Italian Bonds
p7 USA: Draft FATCA Regulations to be Published in January 2012
p7 USA: The Dodd-Frank Act – The Volker Rule
Please see full publication below for more information.