EU cross-border distribution of funds: ESMA guidelines on marketing communications - Following its consultation in November 2020, the European Securities and Markets Authority (ESMA) has published a final report on...more
TMPR: FCA update on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has updated its webpage on adding a new sub-fund to an umbrella scheme in the temporary marketing permissions regime (TMPR)...more
The U.K. Financial Conduct Regulator has published a “Dear Chairman” letter addressed to Authorized Fund Managers requesting them to review certain aspects of the liquidity management arrangements for the authorized funds...more
The European Securities and Markets Authority has published a report containing its final guidelines on liquidity stress testing in Alternative Investment Funds and Undertakings for Collective Investment in Transferable...more
FCA Consults on Rules for Post-Brexit Temporary Permissions Regime for Incoming EEA Firms and Funds - The UK government is proposing to implement a “temporary permissions regime” to cover “inbound” European Economic Area...more
The U.K. Financial Conduct Authority has launched a consultation on illiquid assets and open ended funds, following responses from stakeholders to a discussion paper it issued early in 2017. After observing the impact of...more
Significant Update of the General Regulations of the AMF ("GRAMF") - The Arrêté of 27 February 2017 and published to the Official Journal on 7 March 2017 has amended significantly the General Regulations of the AMF (the...more
On 23 December 2016, the Bank of Italy supplemented the regulation on the collective investment management (the "Regulation") which, inter alia, implements article 46-ter of Legislative Decree. n. 58/1998 ("Consolidated...more
In data 23 dicembre 2016, Banca d'Italia ha integrato il regolamento sulla gestione collettiva del risparmio (il "Regolamento") con cui, inter alia, viene data attuazione all'art. 46-ter del d.lgs. n. 58/1998 ("TUF"),...more
Latest Statistics Regarding Luxembourg UCITS - ALFI (the Luxembourg Fund Association) released figures outlining the footprint of Luxembourg domiciled UCITS on 9 March 2016, showing the volume of assets under management...more