This week sees the introduction of significant changes to the rules and regulations governing the marketing of alternative investment funds (“AIFs”) to investors in the Member States of the European Economic Area (the “EEA”)...more
1. Overview The new rules on the promotion of funds introduced by the new Cross-Border Distribution of Collective Investment Undertakings Directive and Regulation (Cross-Border Distribution of Funds (CBDF) Rules) are due to...more
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
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
On July 30, 2015, the European Securities and Markets Authority (ESMA) released its advice to the European Parliament, Council of the European Union and the European Commission on the application of the passport to non-EU...more
What if co-operation arrangements are not in place in time? We expect that most will be. However, without a co-operation arrangement in place between all relevant regulatory authorities, the manager will need to: ...more