Podcast — UK FinReg Focus Areas in 2025: Wholesale Markets
Brexit & Financial Services: Preparing for the End of the Transition Period
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2025 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
ESMA explains that each selection procedure will be launched with the publication of a contract notice and procurement documents on the EU Funding & Tenders Portal. Prospective applicants are invited to register and...more
During his remarks at a meeting of the International Bar Association’s Asset Management Industry Conference on Global Challenges and Opportunities in Boston, Commissioner Uyeda commented on investment research and the...more
Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more
Background - On 23 May 2024, Ashley Alder, the Chair of the UK Financial Conduct Authority (“FCA”), delivered a speech which outlined the regulator’s agenda for the asset management sector (the “Speech”). In particular,...more
Welcome to the July – September 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter, such...more
The European Union (EU) adopted Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (the “DORA Regulation”) in January 2023. The DORA Regulation seeks to establish a harmonised digital...more
As a further step in the roll out of its green agenda, the European Commission is shortly expected to finalise certain ESG related changes to MiFID II, AIFMD and the UCITS Directive. These will contain various requirements,...more
The European Securities and Markets Authority has renewed its decision requiring holders of net short positions in shares traded on an EU-regulated market to notify national regulators if the position reaches or exceeds 0.1%...more
A new European regime on sustainability-related disclosures in the financial sector will come into force from March 2021, after first being announced in 2018 during the European Commission’s Action Plan on Sustainable...more
The AMF has published a report containing a number of new proposals relating to production of research under MiFID II. Key Points: ..The report pointedly criticises the original MiFID requirements (most of which were...more
Sustainable investing and ESG have become “buzz” words in the asset and fund management industry, with a vast array of new industry bodies and initiatives both in the EU and globally. New regulations are also emerging as the...more
The European Securities and Markets Authority has announced that it will launch a common supervisory action in the second half of 2019 on the application of the appropriateness requirements under the revised Markets in...more
Currently in the European Union, no level playing field exists for asset management and rating agency activities when it comes to ensuring sustainability. The European Securities and Market Authority ("ESMA") is proposing...more
Smaller and medium-sized managers are seeking scale to compete with "the trillionaires", who have enjoyed the lion's share of business inflows in 2018. Industry-wide margin squeeze, fierce market competition, eager buyers and...more
There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more
Verena Ross, ESMA Executive Director, gave a speech which was published on December 5, 2017 which outlined the asset management sector priorities of ESMA for 2018. The speech builds on a speech given by the ESMA Chair,...more
New Rules, Proposed Rules, Guidance and Alerts - SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues No-Action Letters to Facilitate Cross-Border Compliance with the Research “Unbundling” Provisions of the European...more
2 June - The ESMA published its final report on guidelines on product governance requirements under the MiFID II Directive (2004/65/EU). The guidelines (set out in Annex IV) to the final report aim to promote greater...more
The MiFID II regime will have ramifications for buy-side global asset managers and sell-side research providers relating to use of dealing commissions and cost allocation for research expenditures....more
Asset Managers Face Some Difficult Decisions - 2017 is proving to be a stressful and costly year for asset managers. The terms of the UK’s exit from the EU will continue to be the subject of extensive debate, both...more
On July 21, 2016, the Financial Conduct Authority (FCA) of the United Kingdom (UK) published a thematic review: UK equity market dark pools - Role, promotion and oversight in wholesale markets. Background - The...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
Last week the Financial Conduct Authority (FCA) published two papers likely to have a significant impact on the day-to-day operation of investment fund managers in the immediate and medium term....more