UK open-ended funds review: BoE and FCA conclusions On 13 July 2021, the Bank of England (BoE) and the Financial Conduct Authority (FCA) set out the conclusions of their joint review into UK open-ended funds in a section on...more
AIFMD review: European Commission consultation - The European Commission has launched a consultation questionnaire relating to its review of the Alternative Investment Fund Managers Directive (AIFMD)....more
Consultation Paper looks at ways in which issues with the KID requirements could be improved. Key Points: - The ESAs are seeking to make adjustments to the PRIIPs KID requirements to address ongoing issues relating to...more
A Commission Delegated Regulation amending secondary legislation supplementing the Packaged Retail and Insurance-Based Investment Products Regulation has been published in the Official Journal of the European Union. The...more
The Joint Committee of the European Supervisory Authorities has published a Supervisory Statement on the scope of application to bonds of the EU Packaged Retail and Insurance-based Investment Products Regulation. The ESAs...more
1. IVASS monitoring KIDs of insurance-based investment products (IBIPs) - On 10 July, IVASS launched a preliminary public consultation which could possibly be followed by a tendering procedure for the selection of a...more
On 29 March 2019, ESMA clarified benchmark disclosure obligations for UCITS in an updated version of its Q&A on the application of the UCITS Directive. The new questions and answers are included in Section II on “Key Investor...more
On March 8, the Joint Committee of the European Supervisory Authorities (ESAs) published a letter that had been sent to the European Commission proposing draft regulatory technical standards (RTS) amending Commission...more
• Following the 2008 crisis, Switzerland launched a legislative project to create uniform competitive conditions for financial intermediaries and improve client protection. • Swiss Parliament adopted the FinSA on 15 June...more
Both the Euro MTF, as well as the Regulated Market of the Luxembourg Stock Exchange are from now on equipped with their respective Professional Segments reserved to qualified investors, i.e. non-retail investors....more
The Joint Committee of the European Supervisory Authorities have launched a consultation on amendments to the Key Information Document for Packaged Retail and Insurance-based Investment Products....more
1 October - The Competition and Markets Authority ("CMA") published a paper that was prepared jointly with the Financial Conduct Authority ("FCA") setting out the lessons that have been learned from the programme of work...more
The Joint Committee of the European Supervisory Authorities (i.e., the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) has published a...more
The MoFo Private Funds Group knows you are busy so we don’t waste your time. Below are the tracks we are listening to right now – and why they matter...more
The EU regulation on key information documents (KIDs) for packaged retail and insurance-based products (PRIIPs) took direct effect in the European Union on 1 January 2018. This LawFlash outlines at a high level the...more
The European Union (the ”EU”) packaged retail and insurance-based investment products (PRIIPs) Regulation (the ”PRIIPs Regulation”) is applicable throughout the EU from 1 January 2018. ...more
1 December - The Financial Conduct Authority (FCA) published its 19th quarterly consultation paper (CP17/39). The proposed changes to the FCA Rules include changes to the FCA's Decision Procedure and Penalties manual,...more
Many managers may have assumed that the EU PRIIPS Regulation (the Regulation) does not apply to them because they do not generally raise capital from retail investors. Because, however, of the wide definition of “retail...more
3 November - The Financial Conduct Authority (FCA) published an alert setting out key considerations for principals who have appointed representatives or introducer appointed representatives. Among other things, the alert...more
Background - On 1 January 2018, European Union (EU) Regulation (No 1286/2014)[1] on key information documents for packaged retail and insurance-based investment products (PRIIPs) comes into force. It will require that a...more
1 September - The Prudential Regulation Authority (PRA) updated its April 2017 public disclosure with Template A (Disclosure of Aggregate Statistical Data with regard to Insurance and Reinsurance Undertakings) and Template...more
LIBOR: The End Game - Since the announcement on July 27, 2017 by the UK Financial Conduct Authority (the FCA) that the LIBOR rate would be phased out after 2021, much has been written about the complications of switching...more
Federal Reserve and FDIC Post Resolution Plans for Eight Major Financial Firms - On July 5, 2017, the Federal Reserve Board (the "Board") and the Federal Deposit Insurance Corporation ("FDIC") posted the public portions of...more
The Hogan Lovells’ Corporate Insurance Newsletter for May has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue,...more
Key developments in April 2017: 3 April - The FCA published its Consultation Paper on persistent debt and earlier intervention remedies, “Reforming the availability of information in the UK equity IPO process”...more