Open-ended funds: FCA and BoE review survey on liquidity mismatch - On 26 August 2020, the UK Financial Conduct Authority (FCA) updated its COVID-19 webpage to announce that it has launched a joint survey with the Bank of...more
Our latest Funds and asset management regulatory news reports on ESMAs recent updates under the MMF Regulation. For regulatory developments of broad application, see also our Financial institutions general regulatory news in...more
ESMA publishes guidance on performance fees in UCITS and certain AIFs Following consultation, the European Securities and Markets Authority - (ESMA) has published its final report on performance fees in investment funds,...more
On July 20, the European Securities and Markets Authority (“ESMA“) published a letter it has written to the European Commission about share cancellation under the Regulation on money market funds ((EU) 2017/1131) (“MMF...more
INVESTMENT COMPANIES AND INVESTMENT ADVISERS - SEC Releases Updates to Custody Rule Frequently Asked Questions - On June 5, the Securities and Exchange Commission’s Division of Investment Management staff (Staff)...more
The European Securities and Markets Authority has published technical standards, technical advice and Guidelines under the Money Market Funds Regulation. These are: final draft Implementing Technical Standards providing a...more
Allen & Overy publish weekly updates on key regulatory topics affecting the financial services sector. If you would like to receive this update by email please contact RegulatoryChange@allenovery.com. BREXIT - HoL EU...more
The European Parliament has announced that it will consider the MMF regulation during its upcoming plenary session, currently scheduled to be held April 3-6, 2017. The MMF regulation is intended to introduce new...more
On November 16, 2016, the Council of the EU published a press release announcing that its presidency has reached a provisional agreement with representatives of the European Parliament on the proposed Regulation on Money...more
The IRS recently provided relief from the RIC distribution requirement for money market funds that receive contributions in connection with the transition to a floating NAV, enabling RICs to top up their NAVs without having...more
On July 23, 2014, the Securities and Exchange Commission adopted amendments to Rule 2a-7 under the Investment Company Act of 1940, as amended, governing the structure and operation of money market mutual funds (MMFs). ...more
SEC Proposes Rules to Require Disclosure Regarding the Relationship Between Executive Pay and Company Financial Performance - On April 29, the Securities and Exchange Commission published proposed rules that would...more
On July 23, 2014, the Securities and Exchange Commission (SEC) adopted final rules governing the structure and operation of money market funds (SEC MMF Reform Rules). See our client alert entitled “SEC Adopts Floating-NAV and...more
Agency Template for Tailored Resolution Plans - On September 3, the FDIC and the Fed released an optional model template for tailored resolution plans required to be submitted by the Dodd-Frank Act. SEC Risk...more