I. Background and Scope -
On 7 February 2024, the European Union adopted a final text amending the AIFMD and UCITS directives (AIFMD II). This memo considers what are entirely novel requirements attaching to liquidity...more
3/14/2024
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Consumer Financial Products ,
EU ,
European Economic Area (EEA) ,
Financial Services Industry ,
Liquidity ,
Liquidity Management ,
Loan Origination Funds ,
Loans ,
UCITS
On 6 November 2023, the Council of the European Union published its long anticipated final compromise text ‘as regards delegation arrangements, liquidity risk management, supervisory reporting, provision of depositary and...more
On 14 September 2023, the European Commission published a targeted consultation and a public consultation on the implementation of Regulation (“EU”) 2019/2088 on sustainability-related disclosures in the financial services...more
On 20 July 2023, the Council of the EU announced that it has reached political agreement with the European Parliament on the proposed Directive amending the Alternative Investment Fund Managers Directive (2011/61/EU) and the...more
8/3/2023
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Asset Management ,
EU ,
Financial Services Industry ,
Investment ,
Investment Management ,
Loan Origination Funds ,
Regulatory Agenda ,
Regulatory Reform ,
UCITS
On 21 December 2022, ESMA published a final report in relation to draft technical standards for cross-border fund management activities and the cross-border marketing of investment funds within the EEA under the UCITS and...more
1/11/2023
/ AIFM ,
Cross-Border Transactions ,
EU ,
European Securities and Markets Authority (ESMA) ,
Final Rules ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
Investment Funds ,
Marketing ,
Technical Standards ,
UCITS
As we make the transition from 2022 to 2023, this is a good time to look ahead to developments in the UK and the EU that will likely impact the financial services industry. Here are some observations....more
12/21/2022
/ Asset Management ,
Digital Assets ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Greenwashing ,
Investment ,
Proposed Regulation ,
Regulatory Agenda ,
Securitization ,
Sustainability ,
UK
On 18 November, the European Securities and Markets Authority (“ESMA“) published a consultation paper containing draft guidelines on funds’ names using ESG or sustainability-related terms. The deadline for comments on the...more
The EU has published its final text for the proposed revision of the European Long-Term Investment Fund ("ELTIF") regime by means of the European Long-Term Investment Funds Regulation....more
On September 30, the Joint Committee of the European Supervisory Authorities (“ESAs”) (being the EBA, EIOPA and ESMA) published its work programme for 2023 (dated 5 September 2022) (JC 2022 28). The stated priorities include...more
The Council of the EU published two information notes (13198/22) and (13215/22) yesterday, with the final text of the following two new regulations...more
On 1 June 2022, the French Presidency published its “final” compromise text in relation to the revision to the EU Alternative Investment Fund Managers Directive (known as “AIFMD2”).
According to this latest AIFMD2...more
This week sees the introduction of significant changes to the rules and regulations governing the marketing of alternative investment funds (“AIFs”) to investors in the Member States of the European Economic Area (the “EEA”)...more
8/2/2021
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Asset Management ,
Cross-Border ,
EU ,
European Economic Area (EEA) ,
Financial Regulatory Reform ,
Investment ,
Investors ,
Marketing ,
SFDR
The European Securities and Markets Authority (ESMA) has published its Final Report (the Final Report) containing draft regulatory and implementing technical standards (RTS and ITS) on the provision of investment services and...more