February saw a number of developments on a range of areas, including: SFDR; Potential money market fund reforms in the US; The new UK short selling threshold entering into force; The PRIIPs RTS being submitted to the European Commission; and Revisions to the CSSF notification form for NAV calculation errors. See below this month’s regulatory…
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The UK’s Competitions and Markets authority has announced it will be running a number of antitrust investigation’s and probes into big tech including Google and Amazon. This has come off the back of the CMA being untethered from EU powers and free to pursue its own means and actions. One may question though the effectiveness…
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Theres a line from the famous F Scott Fitzgerald novel The Great Gatsby that comes to mind at the moment, ‘You can’t repeat the past.’ ‘Can’t repeat the past?’ he cried incredulously. ‘Why of course you can!’ News has emerged that Neil Woodford, yes that Neil Woodford, is set to launch a new investment fund…
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This week we return to our refresher series on liquidity risk rules around the world, and in particular, the rules in the United States. With the COVID-19 vaccine rollout well underway, and the end of crisis in sight, we thought we would look back at how the volatility last year caused by COVID impacted the…
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Earlier this month the Securities and Exchange Commission (SEC) published a request for public comment on potential reform measures to improve the resilience of money market funds. The request follows the report of the President’s Working Group on Financial Markets issued in December 2020.
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UCITS IV requires UCITS to make an updated KIID available to investors for each sub-fund/standalone fund within 35 business days of 31 December each year. With the deadline fast approaching (19th February 2021) we thought we would take a brief look at some of the key requirements of the UCITS KIID. What is the KIID?…
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This week, on the 1st February 2021, the Statutory Instrument (SI) amending the initial notification threshold under Article 5(2) of the Short Selling Regulation (SSR) entered into force. The SI amends the reporting of net short positions to the Financial Conduct Authority (FCA), in relation to the issued share capital of a company that has…
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Key questions when conducting your UCITS Eligible Markets due diligence Following the end of the transition period, on the 1st January 2021, COLL 5.2.10 was updated to include the “United Kingdom“. COLL 5.2.10 of the Sourcebook now reads that a market is eligible under the “UK UCITS” regime, if it is: A regulated market; A…
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Welcome to the first monthly regulatory round-up of 2021. Each month we will be summarising the key announcements and regulatory developments impacting the fund industry. The past month brought developments on a range of issues, from updated FAQs and guidelines impacting UCITS and AIFMs, to consultations on the Irish Investment Firms Directive, MiFID EMT v3.1…
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