Digitalisation in EU Fund Distribution The recent coronavirus outbreak and the ensuing forced digitalisation in the provision of financial services has in our view accelerated a broader digitalisation process already in existence in the EU Fund Distribution ecosystem. A process which was very advanced already in certain parts of the northern hemisphere of Europe, thanking…
AMF Ramps Up Sustainability Disclosures for Funds in France Written in collaboration with the experts at InReg The French Regulator has recently published on its website a recommendation relevant to all the fund managers employing techniques that are non-financial in nature when managing funds offered to non-professional investors in France. The AMF recommendation can be…
EU Disclosure Regulation A regulation on sustainability-related disclosures in the sector of financial services has been published in December 2019 on the Official Journal of the European Union (find a link to the regulation here). Nicknamed already by the industry as the EU Disclosure Regulation, or simply Disclosure Regulation, for it introduces transparency requirements on…
What to do in case of hard Brexit The result of the general elections in the United Kingdom put the entire nation on a fast track for Brexit again. Whilst we cannot predict whether there will be a hard Brexit or not, this post aims to recap some of the acquis of the previous years…
ESMA MiFID II Compliance Consultation ESMA launched another consultation recently (find it here), as part of its supervisory convergence work plan for 2019. The consultation is about certain aspects and requirements of the MiFID compliance function. This particular supervisory convergence exercise is relevant not only to MiFID II authorised investment firms, but also UCITS management…
ESMA UCITS Performance Fee Consultation ESMA has recently launched a consultation at EU level to develop guidelines on UCITS performance fees. Find a link to the ESMA press release where to find also the initial consultation paper here. The aim of the exercise is to prevent regulatory arbitrage as well as ensure the same level…
The Asset Management Market Study in UK A wave of sweeping changes for the asset management industry in the UK is at the horizon, with some of those kicking in very soon. These come with the implementation of a packet of measures part of a recent endeavour of the FCA called the Asset Management Market…
Asset Managers are currently dealing with the Shareholders Rights Directive II, whose implementation in local law in Europe is due to take place as of June 2019. Find the text of the SRD II here. In this post we will discuss the aims underpinning this European initiative and highlight the main obligations recently imposed on…
The Impact of Brexit on the SEC Disclosure Regime The SEC Disclosure Regime is at the core of the mission to protect investors, maintain orderly markets and ensure efficient access to capital. Brexit impact on SEC Disclosure Regime was under the spotlight recently, adding one more stream of consequences to the withdrawal of the United…
Risks and Factors of Sustainability in UCITS and AIFMD Back in July 2018, ESMA and EIOPA received a mandate from the EU Commission to provide technical advice to supplement the existing package of proposals and assist in the development of potential amendments or delegated acts to integrate sustainability risks and factors in UCITS and AIFMD….