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A&O Shearman

UK Financial Conduct Authority Confirms Date for Opening of Overseas Funds Regime Gateway to New Schemes

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The Financial Conduct Authority has updated its webpage on the Overseas Funds Regime to confirm that it will open the gateway to new schemes on September 30, 2024. From that date, new schemes (schemes not in the Temporary...more

Katten Muchin Rosenman LLP

FCA Publishes Policy Statement on UK Overseas Funds Regime

On 17 July 2024, the Financial Conduct Authority (FCA) published a policy statement (PS24/7) setting out the final rules and guidance necessary to implement the UK’s Overseas Funds Regime (OFR). This follows the FCA’s...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

International Transfers of Personal Data After Schrems II: Practical Compliance Steps

Quick Hits Schrems II Recap Most people are now familiar with the Schrems II requirements to “know your transfers” and to protect personal data when such information is subject to processing (including remote access to...more

A&O Shearman

UK Grants Equivalence to EEA UCITS Under Overseas Funds Regime

A&O Shearman on

The Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024 (SI 2024/635) were made on May 13, 2024 and enter into force on July 16, 2024. Established by the...more

A&O Shearman

AIFMD II: Unveiling the timeline for the new loan origination regime

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The text of the Directive amending the Alternative Investment Fund Managers Directive (AIFMD) (AIFMD II) was published on 26 March 2024 and will enter into force on 15 April 2024. AIFMD II introduces, among other changes,...more

BCLP

Foreign Direct Investment: Key Recent and Future Developments in Europe and the US

BCLP on

At a time of significant geopolitical challenges, many jurisdictions are looking at their investment screening regimes to ensure that they can adequately safeguard national security and public order. Within this context,...more

Littler

UK Right to Work Changes Employers Should Be Aware Of

Littler on

The Home Office has updated its guide on right to work (work authorization) checks for employers in the UK. Changes coming into effect this month include a less flexible approach to late applications to the EU Settlement...more

Dechert LLP

UK Government Deems all EEA Countries’ UCITS Regimes Equivalent Under the UK’s Overseas Funds Regime

Dechert LLP on

Operators marketing EU UCITS in the UK under the FCA’s temporary marketing permissions regime (“TMPR”) will be able to continue to do so following the expiry of the TMPR, provided they register the UCITS in question for...more

Cadwalader, Wickersham & Taft LLP

UK Government Confirms EEA UCITS Equivalent Under Overseas Funds Regime

To address the limitations of the current temporary marketing permission regime (“TMPR”), which permits EEA funds marketed in the UK before Brexit to continue to access the UK market, the UK government introduced the overseas...more

Katten Muchin Rosenman LLP

UK Government Grants Equivalence to EEA UCITS Funds Under the Overseas Funds Regime

On 30 January 2024, the UK government published a written statement (Statement) granting an equivalence decision for European Economic Area (EEA) undertakings for the collective investment in transferable securities (UCITS...more

Walkers

UK Treasury announcement on continued marketing of Irish funds in UK welcomed

Walkers on

On 30 January 2024 the Economic Secretary to HM Treasury issued a statement to MPs on the long-awaited first equivalence assessment under the Overseas Fund Regime ("OFR"). Following a 'detailed assessment', European Economic...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 3: Cross-Border Services and Overseas Branches

(Re)insurance is a global business. It is common for (re)insurance groups to operate in a range of jurisdictions via: i. locally incorporated and authorised subsidiaries, ii. local branches of third country...more

Akin Gump Strauss Hauer & Feld LLP

New EU & UK Sanctions

EU’s 12th Sanctions Package - On 19 December 2023, the Council of the European Union (EU) together with the Commission published its 12th round of sanctions....more

Jones Day

Ireland Introduces Foreign Investment Screening Regime

Jones Day on

The Development: The Screening of Third Country Transactions Act 2023 (the "STCT Act") was signed into law on October 31, 2023, introducing a new investment screening regime in the Republic of Ireland ("Ireland") with a...more

A&O Shearman

Pensions: DC trustee agenda update - December 2023

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Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings, and to support the legal update item on your next...more

Morrison & Foerster LLP

Don’t Miss The Mark: Complying with New Address for Service Rules for UK Trade Marks

Morrison & Foerster LLP on

We would like to bring to your attention that there are new “address for service” rules coming into effect on 1 January 2024 at the UK Intellectual Property Office (UKIPO) which may have an impact on your trade mark...more

Jackson Lewis P.C.

Transatlantic Transfers of Personal Data: Transferring a Privacy Shield Certification to the New EU-U.S. Data Privacy Framework

Jackson Lewis P.C. on

Effective July 10, 2023, the EU-U.S. Data Privacy Framework (“EU-U.S. DPF”) replaced the invalidated EU-U.S. Privacy Shield framework (“Privacy Shield”). Participating U.S. organizations can now receive personal data...more

A&O Shearman

Pensions: what's new this week - September 18, 2023

A&O Shearman on

Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. This week we cover the following topics: International...more

BakerHostetler

The New EU-U.S. Data Privacy Framework in Half a Dozen FAQs

BakerHostetler on

On July 10, 1962, NASA launched Telstar 1, the first active communications satellite linking Europe and the United States through live television transmission. Sixty-one years later, on July 10, 2023, the European Commission...more

Womble Bond Dickinson

European Commission Approves EU-US Data Privacy Framework for Data Transfers - What Does This Mean for Your Organization?

Womble Bond Dickinson on

On July 10, 2023, the EU Commission approved the EU-U.S. Data Privacy Framework (“EU-US DPF”) as a valid transfer mechanism for sharing personal data from European Economic Area countries (those in the EU plus Iceland,...more

BCLP

CAT uses broad axe to quantify Trucks Overcharge

BCLP on

In July 2016, the European Commission issued a settlement decision finding that five major truck manufacturers participated in an EEA-wide cartel involving collusion on the prices of medium and heavy trucks and the timing and...more

A&O Shearman

UK Extends Clearing Obligation Exemption for Pension Funds and Intragroup Transactions

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On April 28, 2023, the Pension Fund Clearing Obligation Exemption and Intragroup Transaction Transitional Clearing and Risk-Management Obligation Exemptions (Extension and Amendment) Regulations 2023 were published, with...more

BCLP

Financing losses and interest - simple pleasures or compounding the misery?

BCLP on

It has long been a mystery to economists, accountants and business people why lawyers have regard to simple interest in commercial cases, in circumstances where companies generally do not (and cannot) borrow money on a simple...more

McDermott Will & Emery

Health Data in the EU and UK – Regulatory Trends and Developments

In light of the increasing number of enforcement incidents under the General Data Protection Regulation (GDPR), organisations active in the Health and Life Sciences sectors in the United Kingdom, the European Union (EU) and...more

Proskauer Rose LLP

Greenwashing – Proposed Clampdown on Fund Names

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On 20 February 2023, the European Securities and Markets Authority’s (“ESMA”) consultation paper (ESMA34-472-373) “Guidelines on funds’ names using ESG or sustainability-related terms” (the “Consultation”) closed to comments....more

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