On 24 April 2025, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a news update concerning the European Accessibility Act (Directive (EU) 2019/882, the EAA), which will become applicable in the Netherlands as of 28 June 2025. In this news item, the AFM urges financial institutions
In the latest episode of our Let’s talk asset management series, Hannah Meakin, Lucy Dodson and Simon Lovegrove discuss the recent papers issued by HM Treasury and the Financial Conduct Authority to streamline the regulatory framework for the alternative investment management sector to promote economic growth.
Listen to our podcast here.
On 15 April 2025, the European Securities and Markets Authority (ESMA) published draft regulatory technical standards (RTS) and a final report on its guidelines on liquidity management tools (LMTs).
Background
The revised Alternative Investment Fund Managers (AIFMs) Directive (AIFMD) and Undertakings for Collective Investment in
On 9 April 2025, a public consultation was launched for the draft bill to implement the revised Alternative Investment Fund Managers Directive (Directive 2011/61/EU, the AIFMD) and the Undertakings for Collective Investment in Transferable Securities Directive (Directive 2009/65/EC, the UCITS Directive).
The draft bill introduces new rules for alternative investment funds (AIFs
On 7 April 2025, HM Treasury (HMT) issued a consultation paper, Regulations for Alternative Investment Fund Managers.
Background
The consultation paper follows the commitment that the Prime Minister made last month to cut the administrative cost of regulation on business by a quarter. It sets out the Government’s proposed approach for a
On 7 April 2025, the Financial Conduct Authority (FCA) issued a Call for Input, Future regulation of alternative fund managers.
Background
The Call for Input follows a Discussion Paper that the FCA published in 2023, DP23/2: Updating and improving the UK regime for asset management. Among other things respondents to DP23/2
On 2 April 2025, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) announced the launch of an exploratory investigation into financial services provided under the so-called ‘national regime’ exemption. This regime allows financial service providers and investment firms in the Netherlands to provide (i) investment advice and (ii)
Increased regulatory burdens on asset management businesses have resulted in additional cost pressures. However, regulation has also required more pricing transparency, which has led to an increasingly competitive market, with investors demanding either ultra-low cost or increasingly bespoke investment solutions.
For our thoughts on this, please see our new briefing here.
In this latest episode of our podcast series, Let’s talk asset management, Hannah Meakin, Lucy Dodson and Simon Lovegrove discuss the UK Financial Conduct Authority’s recent guidance on its expectations for authorised fund applications made by firms for collective investment schemes to be authorised as authorised unit trusts, authorised contractual schemes and authorised open-ended investment
On 26 February 2025, the Unauthorised Co-ownership Alternative Investment Funds (Reserved Investor Fund) Regulations 2025 (the Regulations) were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations are intended to support the Government’s introduction of the Reserved Investor Fund, which will be a new type of UK-based investment