ESMA MiFID Tied Agents Supervisory Briefing. It is All About the Right Formula 2021 witnessed frantic activity from European regulators to tighten the borders in Europe. Just before year end, along with the proposals for AIFMD II and ELTIF II, there came a letter from ESMA hinting at more scrutiny on the so called reverse…
Overseas Persons Exclusion and the UK Third Country Regime The UK maintains its traditional openness to international business even post Brexit, with the departure from the EU offers UK authorities the opportunity to take a fresh look at the entire UK overseas framework and the various regimes within it. Since the 1980’s, the UK implemented…
Some US Regulatory Compliance tips, thanks to Dina Tantra and Joot For asset managers, navigating the US regulatory landscape is not for the faint of heart. However, developing a thoughtful, methodical approachto US Regulatory Compliance issues should pave the pathway to success. To the extent that your resources are focused on building and…
AIFMD II Proposal. The End of the NPPR as we Know it? As part of the broader package of measures within the Capital Markets Union, the EU Commission finalised the AIFMD II Proposal before the end of 2021. Looking back at the October 2020 public consultation on the AIFMD review, we notice that the resulting…
UK Overseas Fund Regime. Prepare for Landing! There seems still to be some misunderstanding in the industry around some of the acronyms used to define the legal fictions introduced post-Brexit in the context of the transition from European passport-based permissions to local UK authorisations for EU investment firms and products. We are referring to the…
The New Process for UCITS and AIF De-registration Summer 2021 marked the entry into force in Europe of the Cross-Border Distribution Directive and, with it, also of a new – more streamlined – process for UCITS and AIF de-registration. So far governed exclusively by local national rules and practices, imposing expensive publication requirements in certain…
ELTIF Regulation Review. Less European, more Sustainable The long-awaited European Commission proposal for the ELTIF Regulation review is now out. Taking stock of the hard facts and that the full potential of the ELTIF is still far from having been achieved, the proposal for the ELTIF regulation review is based on some laser focused measures…
God Save the UK Sustainability Disclosure Regime In conjunction with the COP26 held in Glasgow, the UK takes another step forward on the path to supporting sustainable finance with the FCA discussion paper on the UK Sustainability Disclosure Regime. Largely driven by the compelling need to build trust in the market towards investment products with…
La Nuova Procedura di Deposito KID PRIIPs presso la Consob ***UPDATE: A seguito della pubblicazione di questo post, la Consob ha annunciato lo slittamento del termine previsto per l’entrata in vigore della nuova procedura di deposito KID PRIIPs, in uno ad altre novita’ relative ai fondi. L’Italia fa parte di quella sparuta minoranza di Stati…
European Distribution for US Managers. The Compound Effect. Travel bans are recently being lifted across the world. The news was welcomed by many as a clear – undeniable – sign that business is finally set to go back to the pre-pandemic ways and that includes hugs, handshakes and crowded industry events. And whilst we don’t…