FCA finalises changes to UK PRIIPs regime
In July 2021, the FCA consulted (in CP21/23) on proposals to address the most serious and persistent concerns regarding the onshored PRIIPs regulation.
FCA Custody and Fund Services Supervision Strategy
The FCA have published a letter outlining the key risks that custody and fund services firms need to manage in order to protect investors and the integrity of the markets in which they operate. In the letter, the FCA outline the necessary action they expect firms to take to ensure that risks are appropriately mitigated.
SEC Proposes New Short Sale Disclosure Rules
On 25th February 2022, the Securities and Exchange Commission (SEC) announced proposals that would provide greater transparency to investors and regulators by increasing the public availability of short sale related data.
SEC Propose Amendments to Schedule 13D & G Reporting
SEC Propose Amendments to Schedule 13D & G Reporting On the 10th February 2022, the Securities and Exchange Commission (SEC) announced proposals amending the rules governing beneficial ownership reporting under Exchange Act Sections 13(d) and 13(g). The proposed amendments to Regulation 13D-G would: Accelerate the filing deadlines for Schedules 13D and 13G beneficial ownership reports;…
Proposed Amendments to Form PF
On the 26th January 2022, the Securities and Exchange Commission (SEC) voted to propose amendments to Form PF.
The proposed amendments would apply to large hedge fund advisers, private equity advisers, and large liquidity fund advisers. The proposals are designed to enhance FSOC’s ability to monitor systemic risk, bolster the Commission’s regulatory oversight of private fund advisers, and enhance investor protection efforts.
EU Short Selling Reporting Threshold Lowered to 0.1%
Due to increased volatility on the financial markets in 2020 triggered by the COVID-19 pandemic, ESMA decided to temporarily lower the reporting threshold of 0.2 % to 0.1 %, effective from 16 March 2020. The temporarily lowered reporting threshold of 0.1 % was effective until 19 March 2021, after which the reporting threshold was set back to 0.2 %.
FinDatEx consults on EPT V2 – what are the key changes?
With the publication of the updated European PRIIPs Template (EPT) for consultation, FinDatEx are now in the final stages of revising their European PRIIPs template (EPT) used extensively throughout the industry. EPT 2.0 is now under public consultation until 22 November 2021.
Japan’s FEFTA Pre-Notification Requirements FAQs
In 2020, Japan tightened foreign investment rules with the amendments to the Foreign Exchange and Foreign Trade Act (FEFTA). When the amendment entered into force on 7th June 2020, it expanded the scope of foreign investment reviews, lowered the threshold for screening the purchase of listed companies’ shares to acquisitions at 1 percent or more, and introduced a new prior notification exemption scheme for share acquisitions.
Are you complying with the updated guidelines on stress test scenarios under the MMF Regulation?
Throughout August you will have seen a number of regulators publishing updated circulars, opinions and notices in relation to the application of the ESMA Guidelines on stress test scenarios under the Money Market Fund Regulation (EU) 2017/1131 (MMFR). Including regulators such as the: MFSA, CMVM, Central Bank of Ireland, FSMA & CSSF.
NAV Oversight and Validation
An increase in global regulation has subjected fund managers and their outsourcing partners to greater scrutiny over NAV oversight and resilience. Although the Asset Management industry, including ManCos, continued to operate smoothly and without interruptions to the challenges raised by Covid, they did face a number of obstacles.
