Is a memorandum of understanding ESMA solution to a no deal Brexit case scenario? This seems to be the case from a recent speech held (please find it here) by Steven Maijoor, Chair of ESMA, when detailing some of the imminent steps to be taken at global European and EU 27 level in order to…
Recognition of foreign schemes in Singapore is obtained through an electronic procedure and allows for the offer to certain categories of investors. The procedure and the rules around it are very streamlined due to the high level of sophistication of local regulation. And whilst Singapore is a well-established Asian jurisdiction, known to be a local…
How UCITS marketing in the United Kingdom will be carried out in case of a no deal scenario post-Brexit is one of the questions that many fund managers are asking today. Luckily, the so called onshoring – a process initiated since 2017 by the UK government to prepare for a no-deal – made good progress,…
PRIIPs Regulation and Liquidity of Bond Markets. This Blog-post Reproduces an Article already Published on AlphaWeek. Ten months into the implementation of the PRIIPs (Packaged Retail Investment and Insurance Products) regulation in Europe and still no clear sign of a definitive cease-fire surrounding the discussions, at all levels, about the negative consequences of PRIIPs implementation in Europe….
The Temporary Permission Regime for UCITS and AIF marketing post-Brexit received some welcomed clarity recently. On 8th October 2018 HM Treasury published two draft statutory instruments to amend relevant EU law related to investment funds and entities managing investment funds. One covers the AIFM Directive whilst the other the UCITS Directive. Find these draft instruments…
Bank Disintermediation at the Time of the Capital Markets Union. This Blog-post Reproduces an Article already Published on AlphaWeek. The United States have the most advanced and developed capital markets in the world. This is due to the fact that the process of banking disintermediation – whereby funding of enterprises is obtained via access to the capital…
Zero Fee Funds – A European Perspective. This Blog-post Reproduces an Article already Published on AlphaWeek. Zero Fee Funds were launched for the first time in August this year by a Boston based fund power-house as part of a move to lure more clients to other services. The so called loss leader strategy has been adopted across…
Generally MiFID and namely the MiFID II unbundling rules aim at avoiding or mitigating conflict of interests between investment managers and their clients. Whilst in the recast MiFID directive there is no outright ban for all sorts of inducements – and some minor are permitted – there are more stringent rules, for instance, surrounding how…
Fund Distribution in South Africa – All You Need to Know. This Blog-post Reproduces an Article already Published on AlphaWeek. In 2015 the South African minister of finance resolved that the business of hedge funds was to be classified under local collective investment schemes. This, of course, was not an overnight decision. Instead, it was deeply rooted in…
The Role of the CCR in the Chilean Private Equity Industry. This Blog-post Reproduces an Article already Published on AlphaWeek. Chilean Pension Fund open to Private Equity Investment The Chilean pension fund system has breached in 2018 the 200bn threshold. Its pension fund system – Administradoras de Fondos de Pensiones – traditionally already very open to…