The “AIFMD II” proposals continue their progress through the EU legislative process with more detail provided, but in many areas specific criteria will not be known until Level 2 measures are developed. On 9 February 2023,...more
Today (25 November 2021) the European Commission (the Commission) released the results of its evaluation of the Alternative Investment Fund Managers Directive (AIFMD) which forms part of a Capital Markets Union legislative...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
General data protection regulation – Irish funds working group updates - In July 2018, the Irish Funds General Data Protection Regulation ("GDPR") (Regulation (EU) 2016/679) working group (the "Working Group") issued an...more
The European Commission has published legislative proposals for a new EU covered bonds framework. The legislative package consists of a proposed Directive on the issue of covered bonds and covered bond public supervision and...more
BROKER-DEALER - Change to the No-Action Relief Regarding Definition of “Ready Market” With Regard to Foreign Equity Securities Pursuant to SEC Rule 15c3-1(c)(11)(i) - On February 9, the Securities and Exchange...more
The European Commission has adopted a Delegated Regulation (C(2015) 9160) supplementing the UCITS IV Directive (2009/65/EC) on the obligations of depositaries. The Delegated Regulation sets out provisions relating to issues...more
On September 3, the Financial Conduct Authority (FCA) published a consultation paper covering changes to its handbook of rules for Undertakings for the Collective Investment of Transferable Securities (UCITS) funds and other...more
On May 22, the European Securities and Markets Authority (ESMA) published an opinion to the EU institutions (including the Commission, Parliament and Council) calling for a modification of the Directive for Undertakings for...more