On 3 February 2023, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) on the application of the UCITS Directive. The Q&As have been updated to include a new Q&A in Question 5: Issuer concentration. The new Q&A is as follows: Question: Article 52(1)(b) of the UCITS Directive requires a UCITS … Continue Reading
In the second in our global series of regulatory podcasts focusing on conduct issues, financial services partners from Australia, Hong Kong, Luxembourg, Germany, United Kingdom and the United States consider the cross border distribution of funds by focussing on the following five topics: What trends or industry developments are you seeing in your jurisdiction as … Continue Reading
On 13 October 2022, the European Securities and Markets Authority published updated questions and answers (Q&As) on the Prospectus Regulation. The Q&As now include Question 15.9: Prospectus exemption in connection with a takeover by means of an exchange offer.… Continue Reading
On 8 September 2022, the FCA published a new webpage on side pockets. The new webpage follows the FCA’s July 2022 Policy Statement on side pockets and discusses at a high level how they work and what investors can expect.… Continue Reading
On 9 August 2022, the FCA published a portfolio letter on its Alternatives Supervisory Strategy. The letter outlines the FCA’s updated supervisory strategy and priorities for firms within its ‘Alternatives’ portfolio together with firms that are predominantly active in the alternative investment sector (together firms). The FCA’s alternatives portfolio is comprised of FCA authorised firms … Continue Reading
On 19 November 2020, the FCA published a new web page intended to provide clarification for investment managers on how to report income for Financial Services Compensation Scheme (FSCS) levy calculations. The FCA states that in 2018 asset managers began reporting ‘look-through’ income for the FSCS levy. Income relating to beneficiaries who are FSCS eligible … Continue Reading
Issues affecting asset and fund managers – part 3: fundraising and investor risks Over the coming weeks, partners and members of our financial services team will be sharing with clients and contacts a series of video diaries setting out their views on the latest developments in respect of COVID 19 impacts in the various areas … Continue Reading
