Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: UCITS Directive

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

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

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 Updates UCITS Q&A

Posted in EU Developments, Financial Markets
On October 12, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&A) on the EU Undertakings for Collective Investment in Transferable Securities (UCITS) Directive. The changes include the addition of clarification: 1) that the term “regulated market in a member state” includes a multilateral trading facility (as defined by the Markets… Continue Reading

UK Government Publishes Implementing Regulations for UCITS V

Posted in UK Developments
On February 25, the UK government published the Undertakings for Collective Investment in Transferable Securities Regulations 2016 (Regulations) along with an explanatory memorandum and transposition table. The Regulations implement provisions in the EU Undertakings for the Collective Investment of Transferable Securities V Directive (UCITS V) in relation to depositaries and sanctions, among other provisions.The Regulations… Continue Reading

FCA Publishes Policy Statement on the Implementation of UCITS V

Posted in UK Developments
On February 2, the Financial Conduct Authority (FCA) published a policy statement on the implementation of the Undertakings for the Collective Investment of Transferable Securities V Directive (UCITS V). Policy Statement 16/2 sets out FCA Handbook changes required to implement UCITS V and also the FCA’s feedback on responses received to Part I of the… Continue Reading

ESMA Calls for EMIR Modifications to UCITS Directive

Posted in Derivatives, EU Developments, Financial Markets
On May 22, the European Securities and Markets Authority (ESMA) published an opinion to the EU institutions (including the Commission, Parliament and Council) calling for a modification of the Directive for Undertakings for the Collective Investment of Transferable Securities (UCITS Directive) to take into account the clearing obligations for both exchange-traded and over-the-counter (OTC) financial… Continue Reading