The big month of liquidity finally arrived where we saw a number of liquidity developments come to fruition at the end of the month, including: ESMA’s new guidelines on liquidity stress testing in UCITS and AIFs The FCA’s new rules for certain open-ended funds investing in inherently illiquid assets; and Article 37 MMF Reporting for…
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It has came to light that Caesars Entertainment, owner of the renowned Caesar’s Palace Casino amongst many others is in “advanced talks” to buy betting group William Hill. It is understood they are fending off stiff competition from Apollo private equity group. Hold on, Apollo, Caesar? This has all the makings of a classical tragedy,…
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In recent news UBS has announced that it wants to test out new virtual reality systems for its traders. These would be used to simulate a trading floor environment including displays which incorporate real time financial data. Its certainly an interesting concept and one which comes at a time when return to an office, especially…
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The Canadian Securities Administrators (CSA) has published guidance to help investment fund managers (IFMs) develop and maintain effective liquidity risk management (LRM) frameworks for investment funds. Under the Canadian securities regulatory regime, both NI 81-102 and NI 31-103 contain provisions which are relevant to LRM and the roles and responsibilities of IFMs in managing liquidity…
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It has came to light in a report today by the House Transport Committee in the US that Boeing knowingly concealed and downplayed issues with its MCAS flight system. This comes after two catastrophic crashes of their 737 Max Planes, tragically costing 346 human lives. The report outlines that pilots were often prevented from simulator…
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The 30 September compliance deadline is fast approaching for a number of liquidity developments. Including: ESMA’s new guidelines on liquidity stress testing in UCITS and AIFs The FCA’s new rules for certain open-ended funds investing in inherently illiquid assets FCA and Bank of England survey to review the liquidity mismatch in open ended funds Article…
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It’s been almost a year since the FCA Assessment of Value rules came into force, and many firms would say that due to the FCA’s limited guidance thus far, they are still no clearer as to what a good value statement look like. Well, those firms are now in luck, and may be finding out…
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FAANG is an acronym commonly used to describe the 5 biggest tech stocks: Facebook, Apple, Amazon, Netflix and Google. These are big ticket items to say the least. In an unusual turn of events last SoftBank (who we’ve mentioned previously) was found to be holding massive Call positions in US stocks, especially tech related…
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All eyes may be on the month ahead as we enter the final countdown for the entering into force of ESMA’s liquidity stress testing guidelines, however, the past month still brought several important developments on topics such as: AIFMD; Money Market Funds; PRIIPs; Liquidity; and Short Selling See below this month’s regulatory round-up of some…
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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 Retail and Insurance-based Investment Products (PRIIPs). Below we have detailed some of the developments we have seen throughout 2020. 2020 Developments January Proposed Amendments In…
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