On October 22, 2025, the German regulator, the Federal Financial Supervisory Authority (BaFin), issued a Circular on management board members and on members of administrative and supervisory bodies pursuant to the German Banking Act (Kreditwesengesetz – KWG). The Circular replaces two BaFin Guidance Notices: (i) The Guidance Notice on management board members pursuant to the
New briefing note- ESMA’s UCITS Overhaul: Major Reforms Proposed in Final EAD Report
On 26 June 2025, the European Securities and Markets Authority issued a Final Report on the UCITS Eligible Assets Directive (EAD).
We have published a new briefing note on the report, which covers the key issues and proposals, as well as the next steps for the UCITS EAD.
Let’s talk asset management: Episode 19 – ESMA’s Final Report on the UCITS Eligible Assets Directive
In the latest episode of our podcast series, Let’s talk asset management, Frank Herring and Simon Lovegrove discuss the proposals contained in the European Securities and Markets Authority’s Final Report on the UCITS Eligible Assets Directive.
Listen to the episode here.
AIFMD 2: Quick guide to Member State activity
AIFMD 2: Quick guide to Member State activity
On 26 March 2024, the final legislative text of the Alternative Investment Fund Managers Directive 2 (AIFMD 2) was published in the Official Journal of the EU. The publication marked the conclusion of the AIFMD Review process that formally began in 2020. AIFMD 2 amends
Trialogue negotiating positions on Retail Investment Strategy
On 24 March 2025, the Council of the EU published two notes (dated 11 March 2025) which both contain a three-column table comparing the EU institutions’ positions on the proposals for the Retail Investment Strategy. The first note covers the proposed Regulation amending Regulation (EU) No 1286/2014 as regards the modernisation of the key information
Let’s talk asset management: Episode 12 – ESMA’s and EIOPA’s letter on the EU RIS
In this latest episode of our podcast series, Let’s talk asset management, Frank Herring and Simon Lovegrove continue their discussion on the EU Retail Investment Strategy and focus this time on ESMA’s and EIOPA’s recent letter which included comments on the value for money proposal.
Listen to the podcast here.
ESMA / EIOPA letter on the Retail Investment Strategy
On 13 November 2024, the European Securities and Markets Authority (ESMA) published a letter that it had produced with the European Insurance and Occupational Pensions Authority (EIOPA) to various EU institutions regarding the Retail Investment Strategy (RIS).
In the letter ESMA / EIOPA note that RIS negotiations took place
Let’s talk asset management: Episode 3 – EU Retail Investment Strategy
In Episode 3 of our podcast series ‘Let’s talk asset management’ Frank Herring and Simon Lovegrove discuss the EU Retail Investment Strategy.
Listen to the episode here.
New briefing note – The ECON Report on the proposal for an EU Retail Investment Strategy – Some small steps in the right direction, a large step towards governmental price controls for investment services
We have published a new briefing note – The ECON Report on the proposal for an EU Retail Investment Strategy – Some small steps in the right direction, a large step towards governmental price controls for investment services.
Following an intense debate, the European Parliament (EP) accepted the proposal for an Omnibus
New briefing note – Retail Investment Strategy: Restoring Consumer Trust by Shrinking the Investment Universe?
On 24 May 2023, the European Commission published its Retail Investment Strategy (RIS), a legislative package intended to empower retail investors to take more informed investment decisions that would better correspond to their investment needs and objectives.
The RIS comprises of a Directive as regards the EU retail investor protection rules. This Omnibus