On 7 May 2024, the European Securities and Markets Authority (ESMA) issued a call for evidence on the review of the UCITS Eligible Assets Directive (UCITS EAD). The purpose of the call is to gather information to assess the possible risks and benefits of UCITS gaining exposure to various asset classes.
On 29 April 2024, the European Securities and Markets Authority (ESMA) issued a press release which outlines its advice to the Central Bank of Ireland (CBI) and the Commission de Surveillance du Secteur Financier (CSSF) on investment restrictions for GBP Liability-Driven Investment (LDI) funds to ensure their
On 22 April 2024, the European Securities and Markets Authority (ESMA) published its opinion on the regulatory technical standards (RTS) under the revised European Long Term Investment Fund (ELTIF) Regulation. The revised ELTIF Regulation provides that ESMA shall develop draft RTS to determine in particular the following:
On 16 April 2024, the Financial Conduct Authority (FCA) published a new webpage on common errors made by firms when applying for authorisation to operate in the asset management sector. The webpage outlines common issues with recent applications, and states that firms wishing to operate in the sector should consider these points, alongside
On 27 March 2024, the Financial Conduct Authority (FCA) updated its webpage on fund tokenisation to add information on the Technology Working Group’s phase 2 report, published on 26 March 2024.
The FCA and HM Treasury are observers on the industry-led Group, which is considering the implementation of fund tokenisation in the UK.
On 26 March 2024, the Technology Working Group – an industry group established by the Government to examine the impact of technology on the UK’s investment management sector – published its second report, entitled ‘Further Fund Tokenisation: Achieving Investment Fund 3.0 Through Collaboration’.
The new report builds on the publication of the Group’s first
On 26 March 2024, the European Commission (the Commission) published a Communication on the intention to adopt, with amendments, a Commission Delegated Regulation supplementing Commission Delegated Regulation (EU) 2015/760. The regulatory technical standards (RTS) in the proposed Commission Delegated Regulation specifies obligations of European long-term investment funds (ELTIFs) and their
On 26 March 2024, there was published in the Official Journal of the EU, Directive 2024/927 of 13 March 2024, amending the Alternative Investment Fund Managers Directive and the UCITS Directive as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depository and custody services and loan origination by alternative investment funds.
On 25 March 2024, the Financial Conduct Authority (FCA) published a new webpage on alternative investment fund manager (AIFM) hosting.
The webpage provides information for AIFMs using the host model to manage alternative investment funds (AIFs), known as AIFM hosting. AIFMs can use the host model to employ staff
On 25 March 2024, the following Delegated Regulations were published in the Official Journal of the EU: