The final text of the amendments to the EU Alternative Investment Fund Managers Directive (AIFMD)—known as “AIFMD II”—was published in the Official Journal of the European Union on March 26, 2024, and will enter into force on...more
Whether preparing or reviewing Environmental, Social, and Governance (ESG) disclosures for compliance with regulatory requirements in the EU, the United Kingdom (UK) or the United States (US), or for alignment with ESG best...more
12/30/2020
/ Climate Change ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Popular ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Sustainable Finance ,
UK
In response to the unprecedented circumstances caused by the COVID-19 pandemic, the EU and the UK temporarily lowered the reporting threshold under the EU Short Selling Regulation (“EU SSR”) for net short positions in shares...more
1. New EU and UK disclosure requirements -
The new disclosure requirements for investment managers and advisers with respect to their environmental, social and corporate governance (ESG) policies will apply in the European...more
11/25/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Green Finance ,
Investment Management ,
MiFID II ,
Popular ,
SFDR ,
Shareholder Rights ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UCITS ,
UK
The Financial Conduct Authority (FCA) has confirmed that it has adjusted its systems to facilitate reporting in accordance with the decision of the European Securities and Markets Authority (ESMA) of 16 March 2020 to...more
As a result of the disruption experienced in a number of markets, the UK Financial Conduct Authority (FCA), the Italian securities regulator (Commissione Nazionale per le Società e la Borsa (CONSOB)) and the Spanish...more
On 25 February 2020, the UK Financial Conduct Authority (FCA) updated its process for the notification and disclosure of net short positions under the European Union Short Selling Regulation (SSR).
To be able to submit a...more
At 11:00 p.m. U.K. time on 29 March 2019 the United Kingdom is expected to leave the European Union (“BREXIT Day”). The below timeline sets out milestones in the lead up to BREXIT Day, and thereafter. Please note that there...more
• Individuals that are UK tax resident and non-UK domiciled have the ability until 5 April 2019 to cleanse their mixed overseas funds and accounts.
• Affected individuals should act now to review their position and assess...more
3/30/2018
/ Accountants ,
Capital Gains ,
Domicile ,
Filing Deadlines ,
Foreign Bank Accounts ,
Foreign Tax ,
Fund Managers ,
Income Taxes ,
International Finance ,
Notification Requirements ,
Recordkeeping Requirements ,
Remittance Transfer Rule ,
UK
On 28 June 2017, the Financial Conduct Authority (FCA) published the Asset Management Market Study Final Report (the “Asset Management Review”) as well as a Consultation Paper setting out some proposed changes to the FCA’s...more
7/3/2017
/ AFMs ,
Asset Management ,
Comment Period ,
EU ,
Financial Conduct Authority (FCA) ,
Independent Director ,
Investment Funds ,
Investors ,
Public Comment ,
Senior Management Regime (SMR) ,
UCITS ,
UK
On Wednesday 23 November 2016, Philip Hammond delivered the U.K. Autumn Statement, which included a number of announcements of relevance to the financial services industry. While relatively few new tax measures were...more
Earlier today, the High Court of Justice ruled that the U.K. government does not have the constitutional capacity to trigger the U.K.'s withdrawal from the European Union without further primary legislation being passed. This...more
Three things you need to know -
- The UK Financial Conduct Authority ("FCA") issued guidance (the “Guidance”) on the suspension of fund redemptions.
- The Guidance applies to all FCA-authorised managers...more
MiFID II’s Passport for “Third Countries” and the Possibility of Continued Access to the EU Market for UK Firms -
The decision to hold a referendum as to whether the United Kingdom (UK) should remain a member of the...more
What’s happening?
- On 23 June, the United Kingdom is holding a referendum on withdrawing from the European Union. A vote to leave is forecast to have significant impacts on financial markets and participants in those...more
On Wednesday March 16, 2016, George Osborne delivered his eighth budget as the U.K.’s Chancellor of the Exchequer, which included a number of announcements that will be relevant to the financial services industry....more
Summary -
On 26 November 2015, the United Kingdom’s major shareholding notification rules will be amended in order to implement the requirements of the revised Transparency Directive (“TD2”, as amended by Directive...more
On Wednesday, 8 July 2015, George Osborne delivered the UK Summer Budget. The first Budget of the new Conservative government (and the second Budget of 2015), the Summer Budget is wide-ranging in scope and potentially...more
7/13/2015
/ Asset Management ,
Banking Sector ,
Capital Gains ,
Corporate Taxes ,
Derivatives ,
Federal Budget ,
Goodwill ,
Peer-to-Peer ,
Pensions ,
Stamp Duty Land Tax ,
Tax Credits ,
Tax Reform ,
Tax Revenues ,
UK
In a speech crammed full of digs aimed at opposition parties (and the French), the UK’s Chancellor of the Exchequer delivered his final pre-election Budget this afternoon....more
Summary -
This alert sets out details of a recently published final notice issued by the UK Financial Conduct Authority (FCA) regarding the management of conflicts of interest within UK-licensed investment managers....more
Following not quite so hotly on the heels of the Autumn Statement as some would like, the U.K. government has now published draft legislation for inclusion in next year’s Finance Bill. ...more
Shortly after 12.30 p.m. today, the U.K. Chancellor of the Exchequer, George Osborne, delivered the last Autumn Statement before next year’s general election....more
In December 2013, HM Treasury announced that the transitional period allowing existing U.K. alternative investment fund managers (AIFMs) to continue managing their alternative investment funds (AIFs) without receiving...more
The U.K. government has today published the final text of the 2014 Finance Bill. As discussed in our previous Alert, issued on March 19, the Finance Bill includes...more
Chancellor George Osborne delivered his fifth coalition Budget today. In a wide-ranging statement, there are a significant number of tax-focused proposals that will make changes across the U.K. tax system. Some of these...more