Welcome to the Funds-Axis Regulatory Round Up! This month’s regulatory round-up includes updates from: The FSB on Money Market Fund reform proposals, The Central Bank of Ireland with amendments to the UCITS and AIFMD FAQs, ASIC with guidance on crypto-asset related investment products, The FCA with new rules on the Long-Term Asset Fund (LTAF) regime.
In this month’s round-up, of particular interest, nearly two years after the implementation of the Assessment of Value requirements, the FCA have finally provided feedback following a review of 18 firms conducted between July 2020 and May 2021…
The pressure is rising on the ManCo industry – Management Companies (ManCos) are dealing with more regulations, and more regulatory change than ever before. This constant churning of regulatory change, coupled with increased scrutiny from regulators has led to a complex, pressured regulatory environment. However, this increased scrutiny is not the only challenge facing Mancos!
In early 2020, the European Securities and Markets Authority (ESMA) launched a Common Supervisory Action (CSA) on UCITS liquidity risk management (LRM). The purpose of this exercise was to simultaneously conduct coordinated supervisory activities in 2020 and to assess whether UCITS managers comply with their liquidity management obligations.
February saw a number of developments on a range of areas, including: SFDR; Potential money market fund reforms in the US; The new UK short selling threshold entering into force; The PRIIPs RTS being submitted to the European Commission; and Revisions to the CSSF notification form for NAV calculation errors.
Welcome to the first monthly regulatory round-up of 2021. Each month we will be summarising the key announcements and regulatory developments impacting the fund industry. The past month brought developments on a range of issues, from updated FAQs and guidelines impacting UCITS and AIFMs, to consultations…
The past month brought important developments on topics such as fund liquidity, costs and fees charged by fund managers, AIFMD, UCITS and Money Market Funds. Most notably, in the UK, HM Treasury published the responses to the consultation on the Overseas Funds Regime, and the Financial Services Bill…
Despite the continuing focus on the rapidly rising COVID-19 infections rates in the US & Europe, the looming Lockdown 2.0, and the impending, potentially contentious race for the White House, October saw regulators press ahead with the launch of several significant fund regulatory developments.
On 20th October 2020, the Central Bank of Ireland (CBI) published a letter to all UCITS management companies, authorised Alternative Investment Fund Managers (AIFMs), self-managed UCITS investment companies and internally managed Alternative Investment Funds which are authorised AIFMs. The letter sets out the CBI’s conclusions of its thematic inspection of compliance with its Fund Management Companies Guidance, which concluded the three-part CP86 consultation process.
The big month of liquidity finally arrived where we saw a number of liquidity developments come to fruition at the end of the month, including: ESMA’s new guidelines on liquidity…
