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:

  1. Q&A 6, on the treatment of short-term interest rate futures for

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

On September 21, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published the following draft reports, both dated September 18:

  1. a draft report on the proposal for a directive on the cross-border distribution of collective investment funds; and
  2. a draft report on the proposal for a regulation on facilitating cross-border distribution of collective investment funds.

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

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 ESMA Updates UCITS and AIFMD Q&As

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 process.
Continue Reading FCA Adds New Interactive Tools to Asset Management Authorization Hub

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:

  1. a Regulation (Proposed Regulation) facilitating the above and amending existing Regulations on European venture capital funds and European social entrepreneurship funds; and
  2. a Directive (Proposed Directive) amending the Undertakings for Collective Investment in Transferable Securities (UCITS) IV Directive and the Alternative Investment Fund Managers Directive (AIFMD).

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

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 focus on competing priorities, such as Brexit.
Continue Reading European Commission Publishes Survey About the Functioning of the AIFMD

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