Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. EU Exit: FCA directions extending TPR notification period The FCA has published updated directions for firms intending to enter the temporary permissions regime (TPR), extending the time period during which notifications can be made until the end of 30 January 2020. These directions are directly … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. Statutory Instrument on cross-border distribution The Cross-Border Distribution of Funds, Proxy Advisors, Prospectus and Gibraltar (Amendment) (EU Exit) Regulations 2019 (with explanatory memorandum) which remedies certain deficiencies in retained EU law and UK domestic legislation arising as a result of the UK’s withdrawal from the … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. ISDA publishes no-deal Brexit FAQs The International Swaps and Derivatives Association (ISDA) has published a set of no-deal Brexit FAQs which provide a high-level summary of the key impacts of a no-deal Brexit on the OTC derivatives market and ISDA documentation. FCA updates Brexit guidance on data … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. FCA Market Watch 61 and updated supervisory statement on MiFID transparency regime The FCA has published the October issue of Market Watch which focuses on no-deal Brexit planning, in particular, MiFID transaction reporting and the operation of the MiFID transparency regime. The FCA reminds firms … Read more

Brexit Asset Management Update

In this blog post we summarise the latest Brexit developments related to asset management. EU Exit: FCA extends duration of TTP directions The FCA has updated the draft transitional direction and draft prudential transitional direction (with explanatory note) under its Temporary Transitional Powers (TTP). Key updates include: extending the proposed duration of the directions from … Read more

Brexit Asset Management Update

In this post we summarise the latest Brexit developments related to asset management. EU Exit: update on proposed Regulation on the recovery and resolution of CCPs The Department for Exiting the EU (DExEU) has published letters from John Glen MP, Economic Secretary to the Treasury, to Lord Kinnoull, Chair of the House of Lords European … Read more

Brexit Asset Management Update

In this post we summarise the latest Brexit developments related to asset management. EU Exit: FCA speech on Brexit preparations in financial services The FCA has published a speech delivered by its Chief Executive, Andrew Bailey, on Brexit preparations in financial services. In his speech, Mr Bailey recognises an increased level of readiness for a potential ‘no … Read more

Updated Brexit Legal Guide launched

Today our updated Brexit Legal Guide was released. Below is a message from our Chair and Senior Partner James Palmer which accompanied the updated guide. Dear clients and professional colleagues, The outcome of the June 2016 UK referendum on EU membership ushered in a period of increasing political turmoil in the UK. When I wrote … Read more

Brexit Asset Management Update

In this post we summarise the latest Brexit developments related to asset management. FCA extension to use of temporary transitional power The FCA has announced that it will extend the proposed duration of the directions issued under the temporary transitional power to the 31 December 2020. This is to reflect the extension of Article 50. … Read more