The Basel Committee on Banking Supervision (“BCBS”) published a report jointly with the World Bank setting out the findings from a global survey on proportionality in banking regulation and supervision....more
The scope of the New Law is quite broad, and applies to all forms and types of entities.4 This encompasses companies and partnerships, whether or not regulated, including Luxembourg investment funds such as UCITS, Part II...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
Changes to the UCITS Directive (known as “UCITS V”) were published in the Official Journal of the European Union and came into force on 17 September 2014. EU Member States are required to transpose UCITS V into national law...more
On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more
The Association Française de la Gestion financière (AFG) – the association representing French management companies – published on 7 May 2015 guidelines regarding the use of stress tests by management companies (Guidelines)....more
The Restructuring Mid-Summer Review: Europe and the Emerging Markets - For those focused on the debt restructuring market, the Greek sovereign crisis (covered extensively in our recent updates1) has drowned out news of...more
ALFI Responds to ESMA's Discussion Paper on UCITS Share Classes - On 27 March 2015 ALFI submitted its response to the ESMA Discussion Paper on share classes of UCITS. Issues addressed in this paper relate to the...more