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
The Senate has adopted the amendment to the bonus cap on 19 May 2026. This update outlines the key changes introduced by the amendment, including its impact on identified staff and the broader remuneration framework within the financial sector.
We also highlight practical steps that financial institutions may wish to consider in light of these
On 11 May 2026, the European Commission (Commission) issued a report on money market funds (MMFs) together with FAQs.
Report
In 2023, the Commission published a report showing that “the MMF Regulation successfully passed the test of liquidity stress experienced by MMFs during the COVID-19 related market turmoil of March 2020
On 11 May 2026, the European Securities and Markets Authority (ESMA) published a final report setting out the results of its Common Supervisory Action (CSA) on compliance and internal audit functions of fund managers. The final report also includes a list of good and poor practices that Member State competent authorities
On 5 May 2026, the European Securities and Markets Authority (ESMA) issued a consultation paper proposing a new approach to updating the parameters for stress test scenarios under the Money Market Funds (MMFs) framework.
The MMF Regulation provides that ESMA shall develop guidelines with a view to establishing common reference parameters
On 14 April 2026, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published an update on the implementation of the revised Alternative Investment Fund Managers Directive II (AIFMD II). This update focuses on the revised conditions applicable to non-EU alternative investment fund managers (AIFMs)