Report concludes that the AIFMD has been helpful in building a market for AIFs, but is not free from issues.
Key Points:
..The report concludes that the AIFMD has played a significant role in helping to create an...more
1/15/2019
/ AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
EMIR ,
EU ,
EU Passport ,
European Commission ,
Investment Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Private Equity ,
Private Placements ,
UCITS
The UK’s temporary permissions regime appears to be a helpful concession for inbound firms, but there are some hidden challenges.
Key Points:
..The UK regulators have set out further details of the rules they propose...more
The FCA has published a second consultation on the Brexit onshoring project. Like the first, and many other Brexit onshoring documents, it is both long and very technical. However, a number of important policy points are...more
11/29/2018
/ Consultation ,
EU ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
Listing Rules ,
Onshoring ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Securities ,
Senior Management Regime (SMR) ,
UCITS ,
UK ,
UK Brexit
Latham & Watkins demystifies the process for onshoring the MiFID II regime, and outlines the key changes for firms operating in the UK.
Key Points:
..The onshoring process is designed to preserve the status quo as much...more
MiFID II contains a number of inducements requirements, including rules relating to conflicts of interest, research, hospitality, corporate access, and payment for order flow. This Client Alert outlines these requirements and...more
The Commission shares the results of a 2017 study into the current functioning of European markets for retail investment products.
Key Points:
..The European Commission’s Final Report is the result of examining a broad...more
ESMA has published two statements highlighting ICO risks for investors and EU regulatory rules applicable to issuers and advisors involved with ICOs.
The European Securities and Markets Authority (ESMA) published two...more
ESMA has published a new Q&A clarifying the transitional arrangements for third country benchmarks under the EU Benchmarks Regulation (BMR).
Key Points:
..Non-EEA benchmarks that are being used in the EEA before 1...more
US and EU authorities have finally moved to solve the cross-border issues arising from MiFID II rules on research unbundling.
Key Points:
- The US SEC has published three temporary “no action” letters, which are...more
Do robots give suitable advice? ESMA proposes updates to suitability guidelines to address robo-advice.
Given the technological evolution of the advice market, firms offering a robo-advice service are faced with a...more
The FCA has published its second Policy Statement on MiFID II implementation, plus a further Consultation Paper on residual issues.
Key Points:
..The FCA has made significant changes to some proposals, particularly in...more
The European Commission is consulting on delegated acts clarifying the meaning of certain key terms.
On 22 June 2017, the Commission published four draft delegated acts under the EU Benchmarks Regulation (BMR). These acts...more
FCA Consultation Paper sets out proposed approach to compelling LIBOR contributions.
The FCA has published a Consultation Paper (CP17/5), setting out its proposed approach to the use of its compulsion powers under the EU...more
ESMA Sheds Light on MiFID II Product Governance.
The MiFID II Product Governance regime presents a number of implementation challenges for firms. The rules originated from an existing FCA regime, which derived from a need...more