As businesses grapple with increasingly complex and interconnected risks, from climate-related disruptions to geopolitical instability and supply chain fragility, the search for flexible and cost-effective risk management solutions has never been more pressing. The use of captive insurance vehicles as a mechanism for alternative risk transfer is well established, offering corporates a powerful tool to
On 27 July 2026, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) published a circular (the Circular) clarifying that investments falling within the scope of the German Capital Investment Act (Vermögensanlagengesetz – CIA) will generally not be classified as packaged retail investment products (PRIIPs) for the purposes of the PRIIPs
We have published a new briefing note that considers the core proposals in Dubai Financial Services Authority (DFSA) Consultation Paper No. 173. CP173 sets out wide-ranging proposals to enhance the DFSA’s collective investment fund regime in the Dubai International Financial Centre.
On 14 July 2026, HM Treasury (HMT) issued draft statutory instrument and policy note on the Alternative Investment Fund Managers Regulations 2026.
Background
The Alternative Investment Fund Managers Directive (AIFMD) (Directive 2011/61/EU) was introduced in 2011 in the EU with the aim of harmonising the regulatory framework for funds and fund
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)
