Collective investment schemes

On 30 January 2024, the Economic Secretary to the Treasury, Bim Afolami, announced in a statement to the House of Commons that HM Treasury (HMT) has reached a decision regarding the equivalence assessment for EEA states under the UK’s Overseas Funds Regime (OFR).

The Government legislated in the Financial Services Act

On 20 December 2023, the Financial Stability Board issued a report setting out revised policy recommendations to address structural vulnerabilities from asset management activities in relation to liquidity mismatch in open-ended funds. The revised policy recommendations supersede section2 of the FSB’s 2017 policy recommendations to address structural vulnerabilities from asset management activities. The revised recommendations

On 16 August 2023, the Financial Stability Board (FSB) published summary terms of reference for a thematic peer review on money market fund (MMF) reforms. The peer review will take stock of the measures adopted by FSB member jurisdictions to enhance MMF resilience in response to the FSB’s 2021 policy proposals

On 5 July 2023, the International Organisation of Securities Commissions (IOSCO) published a consultation report on guidance for effective implementation of the recommendations for liquidity risk management for collective investment schemes.

The report provides detailed guidance to support greater and more consistent use of anti-dilution liquidity management tools by responsible entities for open-ended

On 12 May 2023, the International Organization of Securities Commissions (IOSCO) published Good Practices Relating to the Implementation of the IOSCO Principles for Exchange Traded Funds.

Exchange traded funds (ETFs) are an increasingly popular investment vehicle, which offer investors exposure to underlying markets for stocks, bonds and other assets; portfolio

On 6 April 2022, the International Organisation of Securities Commissions (IOSCO) published a report, Corporate bond markets – drivers of liquidity during COVID-19 induced market stresses.

The report analyses the work of the IOSCO working group on corporate bond market liquidity, which was tasked with analysing the corporate bond market microstructure, resilience and liquidity

On 4 November 2021, the Investment Association published version 3.0 of its model discretional investment management agreement, in co-operation with Norton Rose Fulbright. The model agreement is a template agreement relating to the appointment of a discretionary investment manager by a client that has been categorised by the manager as a professional client. The

On 11 October 2021, the Financial Stability Board (FSB) published a report which forms a key part of its work programme on non-bank financial intermediation. The policy proposals in the report aim to address systematic risk and minimise the need for future extraordinary central bank interventions to support the sector alongside enhancing money

On 30 June 2021, the Financial Stability Board issued a consultation report setting out policy proposals to enhance money market fund (MMF) resilience, including with respect to the appropriate structure of the sector and of underlying short-term funding markets. The report considers the likely effects of a broad range of policy options to

On 20 November 2020, the International Organisation of Securities Commissions (IOSCO) published a diagnostic report analysing the events that occurred in the money market funds (MMFs) sector during the market turmoil in March 2020. At the same time, IOSCO has also published a thematic review assessing the implementation of selected IOSCO