On 11 November 2024, the International Organization of Securities Commissions (IOSCO) issued a consultation report on revised recommendations for liquidity risk management for collective investment schemes (CIS), especially for open-ended funds. IOSCO is also consulting on complementary guidance for the effective implementation of the recommendations for liquidity risk management.
The recommendations
On 30 October 2024, the Dutch Authority for the Financial Markets (Autoriteit Financiele Markten, AFM) released findings from its exploratory study on the rising number of fund managers operating under the so-called Alternative Investment Fund Managers Directive (AIFMD) light regime. The AIFM-light regime applies to smaller fund managers with assets under €100 million
On 5 November 2024, the Financial Conduct Authority (FCA) published a consultation paper, CP24/21, on investment research payment optionality for fund managers.
CP24/21 sets out proposals to take forward the recommendations of the Investment Research Review and feedback to the FCA’s previous consultation (CP24/7) on payment optionality for investment research.
On 29 October 2024, the Financial Conduct Authority (FCA) published a speech delivered by its Chief Executive, Nikhil Rathi, on ‘Rising to the occasion on private markets’.
Opportunities from the growth of private markets
In the speech, Mr Rathi notes that private markets are growing and the FCA supports this growth as
On 25 October 2024, the Commission Delegated Regulation (EU) 2024/2759 relating to European long-term investment funds was published in the Official Journal of the European Union (OJ). It enters into force on the day following its publication.
The Delegated Regulation contains regulatory technical standards (RTS) guiding ELTIF managers on how to
In this new briefing note, we will consider the dynamics of continuation funds as well as the key issues and industry-led best practices that sponsors need to keep on their radar when using them.
There are two methods which allow the marketing of alternative investment funds (AIFs) in the EU by alternative investment fund managers (AIFMs). The first method is a marketing “passport” which has been introduced by the Alternative Investment Fund Managers Directive (AIFMD) to allow AIFs to be marketed to professional
On 11 October, the AIMA Productive Finance Working Group published an updated version of the model Long-Term Asset Fund Instrument of Incorporation and Authorised Contractual Scheme co-ownership deed, following confirmation from the Financial Conduct Authority.
From 2 October 2024, trustees and custodians of collective investment schemes (CIS) operating in Hong Kong and authorised by the Securities and Futures Commission (SFC) for retail distribution must be licenced or registered to carry on the new Type 13 regulated activity (RA13) of “providing depository services for