The European Securities and Markets Authority (ESMA) has published its final draft regulatory technical standards (RTS) relating to liquidity management tools (LMTs) under the Alternative Investment Fund Managers Directive...more
Welcome to the January - March 2025 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
On 21 October 2024, the Commission de Surveillance du Secteur Financier (CSSF) implemented the European Securities and Markets Authority (ESMA) Guidelines regarding environmental, social, and governance (ESG) fund naming as...more
The EU is seeking to regulate the approach to liquidity management in open-ended alternative investment funds (as well as UCITS) as part of the amendments introduced by AIFMD 2.0 that come into effect on 16 April 2026. ...more
On 22 November 2024, the Department of Finance ("DoF") launched its public consultation on the exercise of the national discretions in Directive (EU) 2024/927 amending AIFMD (2011/61/EU) and the UCITS Directive (2009/65/EC),...more
Marketing will now expressly fall within the scope of delegation under AIFMD 2.0, to the extent that it is carried out on behalf of the alternative investment fund manager (AIFM). AIFMD 2.0 clarifies that only distributors...more
New requirements concerning reporting by EU AIFs and UCITS of statistics on their assets have been introduced by the European Central Bank (ECB). The new reporting requirements will apply from 1 December 2025....more
This second instalment of our AIFMD II 101 series focuses on the new EU-wide legal framework for liquidity management tools ("LMTs") under AIFMD II. The new rules in relation to the use of LMTs will apply to alternative...more
The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more
In our recent alert Loan Origination Under AIFMD2: A Guide, on loan origination under the revised Alternative Investment Fund Managers Directive (AIFMD2), we noted that the European Securities and Markets Authority (ESMA)...more
Further to its consultation in spring 2024, the UK Financial Conduct Authority (FCA) has confirmed in Policy Statement PS24/9, “Payment Optionality for Investment Research,” that, with effect from today, 1 August 2024,...more
On 14 May 2024, ESMA published its final guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). As a result, the use of certain environmental, social and governance (ESG) or...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
On 14 May 2024, the European Securities and Markets Authority (ESMA) published its final guidelines ESMA34-472-440 Final Report on the Guidelines on funds names (europa.eu) on the use of ESG- or sustainability-related terms...more
On 14 May 2024, the European Securities and Markets Authority ("ESMA") published its final report on "Guidelines on funds’ names using ESG or sustainability-related terms" (the "Guidelines"). The Guidelines aim to provide...more
In March 2024, the Financial Conduct Authority (FCA) released two documents with its updated supervisory approach for the asset management and alternatives sector: the FCA’s 2024/25 Business Plan (the Business Plan), and a...more
The European Securities and Markets Authority (“ESMA”) has published its Final Report on the Guidelines on funds’ names using ESG or sustainability-related terms (the “Guidelines”). ESMA was provided with the mandates to...more
On 14 May 2024 ESMA published its long-awaited guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). The Guidelines apply three months after the date of their publication on ESMA’s website...more
The European Market Infrastructure Regulation (EMIR) data reporting requirements apply to European Union (EU) funds and EU fund managers. UK EMIR imposes reporting requirements on UK funds and UK managers. The reporting...more
Welcome to the January – March 2024 issue of our Irish Quarterly Legal and Regulatory Developments report for Asset Management and Investment Funds. This report covers key developments during the quarter, such as: ...more
In March, the Council of the European Union published the Alternative Investment Fund Managers Directive (AIFMD II), aimed at harmonising the rules on delegation, reporting and liquidity management, together with bringing in...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
The text of the directive to amend the AIFMD (so-called AIFMD 2.0) was published in the Official Journal of the EU on 26 March 2024 and will enter into force on 15 April 2024. Member States have 24 months to transpose the...more
I. Background and Scope - On 7 February 2024, the European Union adopted a final text amending the AIFMD and UCITS directives (AIFMD II). This memo considers what are entirely novel requirements attaching to liquidity...more
Die überarbeiteten Fassungen der AIFM- und der UCITS-Richtlinie stehen fest und sollen Mitte 2024 in Kraft treten. Die Mitgliedstaaten haben dann zwei Jahre Zeit zur Umsetzung. Änderungen sind insbesondere bei den Themen...more