This DechertOnPoint summarises current regulatory developments in the European Union and the UK and certain other EU member states in the investment funds and asset management sectors in the past four weeks.

EU and Supranational Regulatory Developments:

p1 European Commission Initiatives for 2011

p1 IOSCO Report on Commodity Derivative Markets

p2 The AIFMD – ESMA Discussion Paper

p2 AIFMD: ESMA Consultation on Exemptions for Small Managers

p3 ESMA Final Report and Guidelines on Structured UCITS Risk Measurement and Global Exposure Calculation

p3 FSB Background Note on Financial Stability Issues Arising from Exchangetraded Funds

p3 Financial Service Board Proposals on Financial Regulatory Reforms

p4 G20 Finance Ministers and Central Bankers’ April 2011 Meeting

UK Regulatory Developments:

p4 Use of Non EEA Rules in Calculating Group Capital Requirements

p4 Independent Commission on Banking Interim Report