Collective investment schemes

On 14 May 2024, a statutory instrument (SI) – the Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024 – was published on legislation.gov.uk.

The SI enacts the equivalence decision, announced by the Government in January 2024, for EEA states under the UK’s Overseas Funds Regime (

On 27 November 2023, the European Securities and Markets Authority (ESMA) published a speech by Verena Ross, Chair at the EFAMA Investment Management Forum in Brussels. The speech is entitled: The role of asset management – channelling capital into financial markets preserving financial stability and sustainability aims.

In her speech Ms Ross provides

On 23 November 2023, the UK Parliament published the Alternative Investment Fund Designation Bill, which has been introduced to Parliament.

This is Private Member’s Bill, intended to amend the Alternative Investment Fund Managers Regulations 2013 (which implemented the Alternative Investment Fund Managers Directive in the UK) to remove listed investment companies from Alternative Investment

We have now updated our two guides on the Alternative Investment Fund Managers Directive (AIFMD), which has now been in force for some time. Both guides are now in their sixth iteration.

The first guide considers whether the AIFMD marketing passport is working in practice and is a useful tool for managers as

On 31 October 2023, the FCA announced that it will be partnering with regulators across the world as part of the Monetary Authority of Singapore’s (MAS) Project Guardian, a collaborative initiative with the financial industry that explores fund and asset tokenisation use cases and decentralised finance.

The FCA joins MAS, Singapore’s central bank

On 12 October 2023, the FCA published a speech delivered by its Chair, Ashley Alder, at the Investment Association’s Annual Dinner on 11 October. In the speech, Mr Alder provides an update on the FCA’s priorities for updating and improving the UK asset management regime in light of the responses it received to discussion paper

On 19 September 2023, the FCA published a new webpage on landing slots for funds in the temporary marketing permissions regime (TMPR).

The webpage explains that, in the coming months, the FCA will be contacting fund operators with respect to landing slots for exiting the TMPR. It also notes that the process of

On 16 August 2023, the Financial Stability Board (FSB) published summary terms of reference for a thematic peer review on money market fund (MMF) reforms. The peer review will take stock of the measures adopted by FSB member jurisdictions to enhance MMF resilience in response to the FSB’s 2021 policy proposals