UK National Security and Investment Bill
On 11th November 2020, the UK Government introduced the long-awaited National Security and Investment Bill in the House of Commons. The Bill provides the government with new powers to screen…
Overhaul Global Shareholder Disclosure Rules – Part 1
In July, the SEC announced proposed amendments to 13F Reporting, to update the reporting threshold for institutional investment managers, as well as a number of other ancillary changes. The major…
SEC Adopts Modernized Regulatory Framework for Derivatives Use
On Wednesday, the Securities and Exchange Commission (SEC) approved 3 to 2, the 458 page derivative use rules aimed at enhancing the regulatory framework for derivatives in the U.S. The…
CP86 Thematic Review and Conclusions
On 20th October 2020, the Central Bank of Ireland (CBI) published a letter to all UCITS management companies, authorised Alternative Investment Fund Managers (AIFMs), self-managed UCITS investment companies and internally…
Ignorance is not bliss – a timely reminder that derivatives ARE included!
Yesterday, the Financial Conduct Authority (FCA) fined a Hong Kong hedge fund just over £870,000 for failing to disclosure its net short position in Premier Oil Plc. This is the…
PRIIPs: What’s Been Happening?
Of all the new regulations we have seen over the last few years, few have been as controversial or as polarising as the KID requirements under the regulation for Packaged…
ESMA’s AIFMD Recommendations – A Specific Look at Delegation
As discussed in our previous blog, ESMA has written to the European Commission ahead of the EU executive’s review of the AIFMD regulation. Although ESMA has recommended a raft of…
ESMA’s Proposed Changes to AIFMD
When the European Commission announced back in March 2018, a proposal to amend the Alternative Investment Fund Managers Directive (AIFMD), in order to provide for a uniform regime for “pre-marketing”…
ESMA’s Proposed Changes to AIFMD Reporting Regime
Last week, ESMA published a letter to the Commission setting out 19 key areas where it believes AIFMD could be improved. Specifically, ESMA’s letter includes: Harmonising the AIFMD and UCITS…
SEC Proposed Modernised Shareholder Reports
The U.S. Securities and Exchange Commission (SEC) recently proposed significant modifications to the mutual fund and exchange-traded fund disclosure framework. The proposed disclosure framework would feature concise and visually engaging…