On 13 June the European Commission (the Commission) published a new package of measures to bolster the EU sustainable finance framework.
Its aim is to: “ensure that the EU sustainable finance framework continues to...more
6/21/2023
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Benchmarks ,
Climate Action Plan ,
Climate Change ,
EU ,
EU Directive ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Services Industry ,
Green Bonds ,
MiFID ,
Private Investment Funds ,
Proposed Regulation ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Taxonomy
The EU Markets in Crypto-Assets Regulation (MiCAR) was published in the Official Journal of the European Union on 9 June 2023. MiCAR is a the major, step toward an EU-wide uniform code governing crypto-assets, such as BTC,...more
6/14/2023
/ Asset Tokens ,
Compliance Dates ,
Cross-Border Transactions ,
Cryptoassets ,
Cryptocurrency ,
E-Money ,
EU ,
Exclusions ,
Financial Action Task Force ,
Legislative Agendas ,
Marketing ,
Member State ,
MiFID ,
New Regulations ,
Regulatory Requirements
On 23 May 2023, the European Securities and Markets Authority (ESMA) published a Consultation Paper on draft regulatory technical standards (RTS) supplementing the amended ELTIF Regulation (Amending Regulation), heralded as...more
The EU regulation on digital operational resilience for the financial sector (DORA) was published in the Official Journal of the European Union on 27 December 2022. It entered into force on 16 January 2023 and will apply from...more
Welcome to the second edition of our Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the non-listed funds sector. We have grouped...more
5/17/2023
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Financial Regulatory Reform ,
International Tax Authority ,
Investment Funds ,
MiFID ,
Partnerships ,
Popular ,
Private Investment Funds ,
Regulatory Oversight ,
Regulatory Requirements ,
Sustainable Finance ,
Tax Authority ,
UK
With more fintech’s looking to expand their businesses internationally, it can be daunting to navigate varying regulations across borders. This article focuses on regulations in the United Kingdom....more
5/1/2023
/ Anti-Money Laundering ,
Compliance ,
Cross-Border ,
Cross-Border Transactions ,
Cryptoassets ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinTech ,
FSMA ,
MiFID ,
Payment Services Directive ,
Regulatory Requirements ,
UK ,
UK GDPR
On 17 April 2023, HM Treasury (HMT) published the draft Insider Dealing (Securities and Regulated Markets) Order 2023 (the Order) and an explanatory memorandum.
The Order brings the list of securities captured under the...more
4/19/2023
/ Compliance ,
Criminal Justice Act ,
EU ,
EU Directive ,
Financial Instruments ,
Financial Services and Markets Act ,
HM Treasury ,
Insider Trading ,
Market Abuse ,
Securities ,
Securities Regulation ,
UK
On 12 April 2023, the European Banking Authority, European Securities and Markets Authority and European Insurance and Occupational Pensions Authority (the ESAs) published a joint consultation paper on a review of the...more
The UK Financial Conduct Authority (FCA) has just announced its first authorisation of a Long Term Asset Fund (LTAF). We have written about the FCA’s increased focus on continuing access by retail investors to wholesale or...more
The European Long-Term Investment Fund (ELTIF), a collective investment framework for both professional and retail investors looking to invest in long-term assets, has been available to EU managers since December 2015. ...more
2/24/2023
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Capital Markets ,
ELTIF ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Institutional Investors ,
Investment Funds ,
Private Funds ,
Retail Investors ,
Wholesale
Since the European Commission (the Commission) published a proposed amending Directive (together with the results of its evaluation of AIFMD) in November 2021, there have been ongoing discussions between the European...more
Welcome to our January 2023 Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the non-listed funds sector. We have grouped the...more
1/19/2023
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Climate Change ,
Consultation ,
Corporate Taxes ,
Divestment ,
ELTIF ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Greenwashing ,
Investment Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
In our previous client alert, FCA ESG Rules: The Next Deadline for UK Private Fund Managers, we noted the likely expansion of the Environmental, Social, and Governance Sourcebook (ESG Rules) of the UK Financial Conduct...more
10/31/2022
/ Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Greenwashing ,
Private Investment Funds ,
Securities and Exchange Commission (SEC) ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September...more
9/21/2022
/ Acquisitions ,
Anti-Money Laundering ,
Change in Control ,
Change of Ownership ,
Corporate Counsel ,
Crypto Exchanges ,
Cryptoassets ,
Due Diligence ,
EU ,
Financial Conduct Authority (FCA) ,
FSMA ,
Investment Firms ,
Notice Requirements ,
Popular ,
Regulatory Oversight ,
Regulatory Standards ,
UK