FINRA has supplemented its FAQs related to COVID-19 regulatory relief. Summaries of the new FAQs are provided below. Helpfully, FINRA has also provided a link to state “shelter-in-place” and “stay-at-home” orders.
Impact of Communication Disruptions – Implications for Firms. FINRA states that member firms should consider steps they can take to mitigate risks that
On March 16, 2020, the Securities and Exchange Commission’s Division of Investment Management announced additional COVID-19 related relief. This relief is available on the SEC’s COVID-19 page, available here, and summarized below.
Operation of Business From Temporary Locations. The conduct of business from temporary locations, such as an employee’s home, as part of
On March 13, 2020, the Securities and Exchange Commission (“SEC”) announced conditional, temporary relief for funds (available here) and both registered and exempt reporting investment advisers (available here) impacted by COVID-19. The relief covers in-person board meetings by fund boards and certain filing and delivery requirements for both advisers and funds. Funds and
On 5 February 2020, the European Systemic Risk Board (ESRB) published a letter to John Berrigan, Director General for Financial Stability, Financial Services and Capital Markets Union at the European Commission, regarding shortcomings of the current framework of the Alternative Investment Fund Managers Directive (AIFMD).
The letter highlights areas for improvement
The German Federal Financial Supervisory Authority (BaFin) has issued a guidance notice on dealing with sustainability risks (ESG Guidance Notice). The binding German version was published on 20 December 2019 and later editorially modified on 13 January 2020. Further, BaFin has now also made available an English convenience translation.
The
On 13 January 2020, the FCA published a new webpage setting out its findings on how asset management firms select and use risk modelling and other portfolio management tools.
The basis for the review was to identify and manage relevant risks in the industry and assess how asset management firms utilised the tools and models
In the second webinar of our global asset management series, our team from the UK, Germany, France, the Netherlands, Italy and Luxembourg provide their insight and views on their domestic regime’s approach to marketing, investors and structure.
The webinar can be viewed here.
For further information, please visit our Asset Management Regulation hub that
The use of IT is of fundamental importance for the finance industry. After having already published two circulars on supervisory IT requirements for financial institutions and insurance undertakings in the past (BAIT and VAIT), the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has now also published a circular
South African asset managers must register as financial service providers (FSPs) with the Financial Services Board (FSB) under the Financial Advisory and Intermediary Services Act (FAIS). Any person carrying on asset management business in South Africa, or from abroad directed at South African clients, whether in a discretionary or non-discretionary