When looking for new sources of investors and capital US fund managers often look towards Europe, but the European market is more tightly regulated when compared to the US market.
In our forthcoming webinar taking place on February 25, 2021, Raising capital in Europe: Key regulatory issues for US asset managers, a team of
On 27 January 2021, the European Securities and Markets Authority (ESMA) issued a decision from its board of supervisors concerning the delegation to the chair of non-controversial opinions on position limits. The board of supervisors has delegated to the chair of ESMA the task to:
On 17 February 2021, there was published in the Official Journal of the EU (OJ) Commission Delegated Regulation (EU) 2021/236 of 21 December 2020 amending technical standards laid down in Delegated Regulation (EU) 2016/2251 as regards to the timing of when certain risk management procedures will start to apply for the purpose of
On 17 February 2021, there was published in the Official Journal of the EU (OJ) Commission Delegated Regulation (EU) 2021/237 of 21 December 2020 amending regulatory technical standards (RTS) laid down in Delegated Regulations (EU) 2015/2205, (EU) 2016/592 and (EU) 2016/1178 as regards the date at which the clearing obligation takes
On 16 February 2021, the PRA published a letter it had sent to independent Non-Executive Directors (iNEDs) who participated in the PRA pilot programme of virtual meetings with PRA senior advisors, which took place in October and November last year. The letter shares some of the themes that emerged from the discussions including:
On 16 February 2021, the European Banking Authority (EBA) issued final guidelines specifying the conditions for the application of the alternative treatment of institutions’ exposures related to ‘tri-party repurchase agreements’ for large exposure purposes. Under the alternative treatment, institutions are allowed to replace the total amount of their exposures to a collateral issuer
On 16 February 2021, the PRA published a letter it had sent to chief financial officers (CFOs) requesting an update on progress towards the recommendations of the Taskforce on Disclosures about Expected Credit Losses (ECLs). The letter refers to the Taskforce’s first report ‘Recommendations on a comprehensive set of IFRS Expected Credit Loss
On 16 February 2021, the Working Group on Sterling Risk-Free Reference Rates published a paper, ‘Supporting transition in sterling non-linear derivatives referencing GBP LIBOR ICE Swap Rate’.
The purpose of the paper is to document how the Non-Linear Derivatives Task Force (NLTF) has been considering the use of SONIA swap rates
On 16 February 2021, the European Commission (Commission) published a report on a possible extension of the leverage ratio buffer framework to other systemically important institutions (O-SIIs) and on the definition and calculation of the total exposure measure, including the treatment of central bank reserves.
The legal basis of the report
Further to our earlier blog post in December 2020, the Dutch Central Bank (De Nederlandsche Bank, DNB) has published on its website a revised suitability matrix which now also takes into account climate and environmental risks when screening relevant individuals at pension funds, banks and insurers. According to DNB the revised suitability