Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: AIFMD

ESMA Updates AIFMD and UCITS Q&As

Posted in EU Developments, Financial Markets
On June 4, the European Securities and Markets Authority (ESMA) announced that it had published an updated version of each of its questions and answers documents (Q&As) on the application of the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive.… Continue Reading

FCA Updates National Private Placement Regime Notification Process Under AIFMD

Posted in Financial Markets, UK Developments
On May 2, the UK Financial Conduct Authority (FCA) updated its webpage on the United Kingdom’s national private placement regime (NPPR) under the Alternative Investment Fund Managers Directive (AIFMD). The NPPR allows non-European Economic Area (EEA) alternative investment funds (AIFs) that are managed by full-scope UK and EEA alternative investment fund managers (AIFMs), as well… Continue Reading

ESMA Publishes Final Reports on Technical Advice on Integrating Sustainability Risks and Factors in the UCITS Directive, AIFMD and MiFID II

Posted in EU Developments, Financial Markets
On May 3, the European Securities and Markets Association (ESMA) published final reports on technical advice to the European Commission (EC) on integrating sustainability risks and factors in the core EU asset management directives: the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive; the Alternative Investment Fund Managers Directive (AIFMD); and the revised… Continue Reading

FCA and SEC Sign Updated Memoranda of Understanding

Posted in Brexit, Brexit/UK Developments, Derivatives, Financial Markets, SEC/Corporate, UK Developments
On March 29, the UK Financial Conduct Authority (FCA) issued a press release announcing that it has signed two updated memoranda of understanding (MOUs) with the Securities and Exchange Commission. Both MOUs aim to ensure the continued ability of the United Kingdom and the United States to cooperate and consult with each other regarding the… Continue Reading

ESMA Updates Q&As on the Application of the AIFMD

Posted in EU Developments, Financial Markets
On March 29, the European Securities and Markets Association (ESMA) published an updated version of its questions and answers document (Q&As) on the application of the Alternative Investment Fund Managers Directive (AIFMD). In their updated Q&As, ESMA has added the following under section VII: Q&A 6, on the treatment of short-term interest rate futures for… Continue Reading

HM Treasury Publishes Draft Brexit Statutory Instruments for Investment Funds and Their Managers

Posted in Brexit/UK Developments, Financial Markets
On October 8, HM Treasury published two draft statutory instruments (SIs), together with explanatory notes, which will make amendments to retained EU law relating to collective investment schemes (CIS) and alternative investment fund managers (AIFMs).… Continue Reading

ECON Publishes Draft Reports on Legislative Proposals for Cross-Border Distribution of Collective Investment Funds

Posted in EU Developments, Financial Markets
On September 21, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published the following draft reports, both dated September 18: a draft report on the proposal for a directive on the cross-border distribution of collective investment funds; and a draft report on the proposal for a regulation on facilitating cross-border distribution of collective investment… Continue Reading

ESMA Updates UCITS and AIFMD Q&As

Posted in EU Developments, Financial Markets
On July 23, the European Securities and Markets Authority (ESMA) issued a press release announcing updates to two of its sets of Questions and Answers (Q&As): (1) Q&As relating to the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive; and (2) those relating to the Alternative Investment Fund Managers Directive (AIFMD).… Continue Reading

FCA Adds New Interactive Tools to Asset Management Authorization Hub

Posted in Financial Markets, UK Developments
On April 20, the UK Financial Conduct Authority (FCA) updated its asset management authorization hub (Hub), which launched on October 16, 2017, as detailed in the Corporate & Financial Weekly Digest edition of October 20, 2017. The updated Hub includes a number of new interactive tools, complementing existing ones, to support firms through the regulatory… Continue Reading

EC Legislative Proposals on Cross-Border Distribution of Collective Investment Funds

Posted in EU Developments, Financial Markets
On March 12, as part of the development of the EU’s Capital Markets Union (CMU), the European Commission (EC) published two legislative proposals in relation to the cross-border distribution of collective investment funds within the EU: a Regulation (Proposed Regulation) facilitating the above and amending existing Regulations on European venture capital funds and European social… Continue Reading

European Commission Publishes Survey About the Functioning of the AIFMD

Posted in EU Developments
On February 8, the European Commission published an online survey about the functioning of the Alternative Investment Fund Managers Directive (AIFMD). Article 69(1) of the AIFMD requires the EC to have commenced by July 22, 2017, its review of the AIFMD’s scope and application. However, the review process has started late due to the EC’s… Continue Reading

FCA Publishes Updating Documents on Reporting Transparency Information Under AIFMD

Posted in UK Developments
On December 20, 2017, the UK Financial Conduct Authority (FCA) published: An updated version of its questions and answers paper (Q&A) with guidance for alternative investment fund managers on reporting transparency information to the FCA; A document setting out the transparency reporting obligations () under Annex IV of the Alternative Investment Fund Managers Directive (AIFMD);… Continue Reading

ESMA Updates UCITS and AIFMD Q&As

Posted in EU Developments
On October 5, the European Securities and Markets Authority (ESMA) updated two question and answer documents: one relating to the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS) and the other relating to the Alternative Investment Fund Managers Directive (AIFMD).… Continue Reading

FCA Extends AIFMD Annex IV Reporting to Master Funds

Posted in UK Developments
On January 25, the UK Financial Conduct Authority (FCA) published amendments to its rules on Annex IV reporting under the EU Alternative Investment Fund Managers Directive (AIFMD). The amendments will affect non-European Economic Area (EEA) Alternative Investment Fund Managers (AIFMs) that market feeder Alternative Investment Funds (AIFs) in the United Kingdom under the United Kingdom’s… Continue Reading

Law Society Publishes Response to Consultation on the Regulatory Perimeter

Posted in Brexit, Brexit/UK Developments, Financial Markets, UK Developments
On January 10, the Law Society of England & Wales (Law Society) published its response to HM Treasury’s September 2016 consultation (Consultation) on amending the definition of “financial advice” for the purposes of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO) (the UK legislation that defines which activities are regulated and with… Continue Reading

ESMA Publishes Updated AIFMD Q&A

Posted in EU Developments, Financial Markets
On December 16, 2016, the European Securities and Markets Authority (ESMA) published an updated questions and answers paper (Q&A) on the Alternative Investment Fund Managers Directive (AIFMD). The Q&A update amends a question in the existing Q&A on reporting obligations for non-EU alternative investment fund managers (AIFMs) under Article 42 of the AIFMD.… Continue Reading

UK FCA Confirms No Guidance to be Published on the Application of the UCITS Remuneration Code

Posted in EU Developments, Financial Markets, UK Developments
On November 17, the UK Financial Conduct Authority (FCA) updated its webpage focused on Undertakings for Collective Investment in Transferable Securities fund (UCITS) remuneration issues to confirm that it does not intend to publish any specific guidance on the application of the UCITS Remuneration Code. The FCA notes that UCITS management companies may wish to… Continue Reading

Brexit and Passporting: FCA Statistics

Posted in Brexit/UK Developments, EU Developments, Financial Markets, UK Developments
On September 20, the UK House of Commons Treasury Committee published a letter (Letter) from Andrew Bailey, Chief Executive of the UK Financial Conduct Authority (FCA), dated August 17. The Letter contains figures on UK firms currently holding single-market “passports” under certain EU directives to provide services or establish branches elsewhere in the European Union. … Continue Reading

European Commission Re-Publishes Q&A Papers on EU Financial Services Legislation

Posted in EU Developments, Financial Markets
On September 2, the European Commission (EC) re-published links on its website to key questions and answers (Q&As) that previously had been published by the European Banking Authority, European Securities and Markets Authority, and European Insurance and Occupational Pensions Authority (together, ESAs). The EC had deleted the links to the Q&As in August and has… Continue Reading

ESMA Publishes Advice on Potential Extension of AIFMD Marketing Passport

Posted in Brexit, EU Developments, Financial Markets
On July 19, the European Securities and Markets Authority (ESMA) published its long-delayed and much anticipated advice to the European Commission (Commission) in relation to the extension of the Alternative Investment Fund Managers Directive (AIFMD) marketing passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs). In it, ESMA gives broadly positive… Continue Reading

FCA Proposes Amendments to UK AIFMD Annex IV Reporting

Posted in EU Developments, Financial Markets
On July 4, the UK Financial Conduct Authority (FCA) published its quarterly consultation paper (Quarterly Consultation), which details proposed amendments to the FCA Handbook. In this Quarterly Consultation, the FCA has proposed to extend and amend UK reporting requirements under the EU Alternative Investment Fund Managers Directive (AIFMD) for certain UK AIFMs and also for… Continue Reading