ESMA writes a letter to the European Commission regarding the reform of the AIFMD

01 September, 2020
A letter to the European Commission dated 18 August 2020 from the European Securities and Markets Authority (ESMA) has been published. Ostensibly relating to the upcoming review of the Alternative Investment Fund Managers Directive (AIFMD), it is, true to recent EU legislative form, expansive in its ambition and has raised a number of questions around potential impacts on the whole of the fund management industry, including the Undertakings for Collective Investment in Transferable Securities (UCITS). Read more

ESMA proposes changes to MiFID II inducements and costs and charges disclosure regimes

08 April, 2020
On 1 April 2019 the European Securities and Markets Authority (ESMA) published its final report to the European Commission (EC) setting out its technical advice on the impact of the inducements and costs and charges disclosure requirements under MiFID II (Directive 2014/65/EU). ESMA expresses some concerns over the efficacy of the current inducements disclosure regime … Read more

Corporate Crime update – Autumn 2019

14 October, 2019
Welcome to the Autumn 2019 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. This bumper edition covers a number of jurisdictions, and includes content from the summer break. Read more

The new regulatory regime for insurance intermediaries in Hong Kong – are you ready for 23 September 2019?

19 September, 2019
On 23 September 2019, the new statutory regime for the regulation of insurance intermediaries will take effect. This represents the final stage of implementation of the insurance reforms which established the Insurance Authority (IA) as Hong Kong’s independent insurance regulator. The IA assumed the regulatory responsibilities of the Office of the Commissioner of Insurance in June 2017 and will take over the regulation of insurance intermediaries (agents and brokers) from the three self-regulatory organisations (SROs) on 23 September 2019. On the same day, the requirements relating to the intermediary management function, one of the control functions of an authorised insurer, will also come into effect. Read more

Dear CEO: please confirm your asset management firm has identified and mitigated the risk of conflicts of interest between it and its customers

09 November, 2012
Conflicts of interest between asset managers and their customers: Identifying and mitigating the risks is a ‘Dear CEO’ publication in which the FSA summarises the output of a thematic review undertaken between June 2011 and February 2012.  The review was initiated after reports from supervisors suggested that the standards and practices of asset managers had … Read more