On 14 July 2026, the Financial Conduct Authority (FCA) published three consultation papers setting out a proposed a package of reforms that is intended to tailor requirements proportionately for asset managers, cut costs for firms and give better data to supervise the sector more effectively.
Background
These consultation papers accompany HM Treasury’s (
On 26 June 2026, the Financial Conduct Authority (FCA) published Consultation Paper 26/21: Proposed changes to the UK Listing Rules for closed-ended investment funds (CP26/21).
The proposals in CP26/21 apply to a market comprising 264 closed-ended investment fund issuers, managed by 145 investment manager firms, with total assets under management of
On 17 June 2026, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) published its Supervisory Review & Evaluation Process (SREP) market overview 2025. The SREP is a periodic survey that investment firms are required to complete, of which the results are used by the AFM to develop
On June 17, 2026, the German regulator, the Federal Financial Supervisory Authority (BaFin), launched a consultation on its new circular “Notes on the amendments to the Capital Investment Code introduced by the Fund Risk Limitation Act”(Hinweise zu Änderungen im Kapitalanlagegesetzbuch durch das Fondsrisikobegrenzungsgesetz) (Circular).
The Fund Risk Limitation Act (Fondsrisikobegrenzungsgesetz – FRiG)
On June 12, 2026, the German regulator, the Federal Financial Supervisory Authority (BaFin), launched a consultation on the revision of its circular “Minimum Requirements for Risk Management of Capital Investment Companies (KAMaRisk).”
The revision of the KAMaRisk is driven, among other things, by the Fund Risk Limitation Act (Fondsrisikobegrenzungsgesetz – FRiG). The FRiG implements
On 8 June 2026, the Financial Conduct Authority (FCA) published a new webpage providing an update on reforms to the UK Money Market Fund Regulation (UK MMRF).
In its update the FCA sets out some of the key proposals that its original consultation included and the responses to them.
The key
On 1 June 2026, the International Organization of Securities Commissions (IOSCO) published a final report in valuing collective investment schemes (CIS). The final report updates and consolidates IOSCO’s earlier 2007 Principles for the Valuation of Hedge Fund Portfolios and 2013 Principles for the Valuation of CIS. It also contains an updated
On 21 May 2026, the Financial Conduct Authority (FCA) published a consultation paper in relation to the registration of authorised fund assets (CP26/16).
Summary
The FCA set out in CP26/16 that it considers that private markets (such as real estate, infrastructure, private credit and private equity) are vital to UK economic