ESMA Consultation on UCITS Crossborder Management Notifications There is more than meets the eye in the ESMA consultation on UCITS crossborder management and marketing notification. Far from being exclusively confined to matters related to AIFs and UCITS crossborder marketing in Europe, the scope of the recentESMA consultation encompasses also AIFMs and UCITS management companies’ cross-border…
ESMA Consultation on UCITS Crossborder Marketing Notification ESMA just kicked off one more interesting summer project, with a very recent consultation – closing on September 9th – on the technical standards for AIF and UCITS crossborder marketing notification. Given that the introduction of the so-called Cross Border Distribution Directive took place over the summer of…
UCITS Marketing in UK Made Easier The road for the UK to retain its position as a global financial centre in the aftermath of Brexit is filled with hurdles. The most notable one relates to ensuring continued ability for EEA UCITS marketing in UK, as part of a broader spectrum of foreign EEA financial products…
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…
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…
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…
Our Bespoke PRIIPs KID Solution This article has been written in cooperation with InReg The early September adoption by the European Commission signalled the beginning of the process to finalise and formalise the PRIIPs RTS. As part of this process, there will be the endorsement by the European Parliament and the Council and lastly the publication in…
EC Proposal on UCITS PRIIPs Quick Fix. Botched or Just about Right? *** Just a couple of weeks after I published this, the ECON Committee of the EU Parliament added some amendments to the draft of the UCITS PRIIPs Quick Fix tackling the issue of the disclosures for share classes for institutional investors. Big thanks to…