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UK Brexit European Undertakings for Collective Investment in Transferable Securities United Kingdom

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

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - September 2022

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This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more

Proskauer Rose LLP

Regulation Round Up - January 2022

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

Akin Gump Strauss Hauer & Feld LLP

UK Proposes New Climate-related Disclosure Rules for Asset Managers

The proposed disclosure rules applicable to UK investment managers have been published for comment by the UK’s Financial Conduct Authority (FCA). The rules focus on enhancing transparency on climate-related risks and align...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23 Dec - 7 Jan 2020

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FCA and PRA on passporting in and out of Gibraltar after the transition period - On 31 December, the FCA published a new webpage on Gibraltar passporting arrangements, with the PRA publishing its respective webpage on 4...more

Akin Gump Strauss Hauer & Feld LLP

The End of the Brexit Transition Period: Compliance Requirements for UK Investment Managers and Advisers

On 24 December 2020, the government of the United Kingdom (UK) and the European Union (EU) reached a Trade and Cooperation Agreement (the “Agreement”) in advance of the end of the Brexit transition period (11:00 p.m. GMT on...more

Latham & Watkins LLP

HM Treasury Policy Statement Addresses Pressing Concerns With PRIIPs Regulation

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The UK government has proposed amendments to the UK PRIIPs regime with performance information in the KID to differ from the EU “performance scenario” requirement. On 30 July 2020, HM Treasury published a policy statement...more

Hogan Lovells

Financial institutions general regulatory news, June 2020 #2

Hogan Lovells on

Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more

Dechert LLP

Brexit Done? Eight Things UK Managers Need to Know About the Brexit Transition Period

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Britain’s Prime Minister, Boris Johnson, secured victory in the December 2019 general election with a promise to “get Brexit done.” The UK duly left the European Union (EU) on 31 January, 2020, and the UK and the EU have...more

Dechert LLP

Brexit Manoeuvres: Potential Implications of a "Hard Brexit" for Fund Managers: A UK Perspective - October 2019

Dechert LLP on

This note sets out at a high level the potential impact of the United Kingdom’s (“UK”) exit (“Brexit”) from the European Union (“EU”) without a negotiated agreement on UK and European Economic Area (“EEA”) (a) alternative...more

A&O Shearman

Brexit – 5 days to go for applying for the Luxembourg transitional period

A&O Shearman on

Three questions relevant for UK managers still considering whether to apply or not. 1. We are a UK manager acting as portfolio manager based on a delegation from a Luxembourg AIFM or UCITS management company. Should we...more

BCLP

Payment Institutions and E-Money Institutions: Safeguarding Requirements - Part 2 - Methods of Safeguarding

BCLP on

On 4 July 2019 the Financial Conduct Authority (“FCA”) published its findings following a review of the safeguarding arrangements in 11 non-bank payment service providers (“PSPs”). The FCA requires that all non-bank PSPs to...more

Dechert LLP

Luxembourg Adopts Brexit Law for Financial Services

Dechert LLP on

On 26 March 2019, the Luxembourg Parliament adopted the first few of a series of Brexit laws, including bill of law n°7401. In the event of a no deal Brexit, this bill will entrust the Luxembourg supervisory authorities for...more

A&O Shearman

UK’s Consolidated Post-Brexit EU Legislation—Update

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UK Post-Brexit EU Financial Services Legislation - Shearman & Sterling today announces its publication in its Brexit Resource Center website of the U.K. post-Brexit versions of several key pieces of EU legislation and...more

King & Spalding

Avoiding the Cliff Edge - Immediate Steps for Firms and Groups with Financial Services Businesses in Europe Involving the UK

King & Spalding on

The UK is due to leave the European Union on March 29, 2019 (“Brexit”). Within the EEA, “passport rights” permit financial services institutions and funds authorised in any EEA Member State to conduct business cross border...more

Dechert LLP

Luxembourg Proposes 21-Month Grandfathering Period in a "Hard Brexit" Scenario

Dechert LLP on

The Luxembourg government has proposed legislation (Draft Bill), which would allow UK financial service providers to continue rendering certain services in Luxembourg for a period of up to 21 months after the date when the UK...more

Dechert LLP

"No Deal" Brexit Risk Grows

Dechert LLP on

The UK House of Commons has rejected the government’s proposed Withdrawal Agreement. Unless the Agreement (or an amended version of it) is approved by the House of Commons, or the Brexit date of 29 March 2019 is postponed or...more

A&O Shearman

UK Draft Directions for EEA Funds and Fund Managers Wanting to Continue to Market in the UK Post-Brexit

A&O Shearman on

The U.K. Financial Conduct Authority has published two draft Directives relating to Brexit under the: (1) draft Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019; and (2) Alternative Investment Fund...more

K&L Gates LLP

The UK Temporary Permissions Regime: Extension of passporting into the UK on a ‘no-deal’ Brexit

K&L Gates LLP on

This alert is relevant in the context of a ‘no-deal’ Brexit only, although affected firms and fund managers may have to take certain actions before it is certain whether there will be a ‘no-deal’ Brexit. ...more

A&O Shearman

Key Regulatory Topics: 7 - 13 December 2018

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BREXIT - Please see the Consumer/Retail and Markets and Markets Infrastructure section for updates on various draft SIs published this week in anticipation of a hard Brexit and Trade associations' letter on temporary...more

A&O Shearman

UK Draft Legislation to Onshore EU Packaged Retail and Insurance-Based Investment Products for Brexit

A&O Shearman on

HM Treasury has published a draft version of the Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019. The EU PRIIPS Regulation requires a standardized disclosure document (called a...more

Latham & Watkins LLP

FCA CP18/36 — The Second Brexit Onshoring Consultation

Latham & Watkins LLP on

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

Dechert LLP

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

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FCA Consults on Rules for Post-Brexit Temporary Permissions Regime for Incoming EEA Firms and Funds - The UK government is proposing to implement a “temporary permissions regime” to cover “inbound” European Economic Area...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on Swaps, CFTC Initial Margin Phase 5, Brexit, and EU Obligations of...

DERIVATIVES - SEC Issues Statement on Swap Business Conduct Rules - On October 31, the Securities and Exchange Commission took an unusual additional step towards implementing its rules for security-based swaps (SBS) by...more

A&O Shearman

Draft UK Post-Brexit Legislation to Onshore Alternative Investment Fund Managers Directive Published

A&O Shearman on

HM Treasury has published a draft of the Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2018, along with explanatory information. The draft Regulations will onshore the Alternative Investment Fund...more

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