Investment Funds

Corporate Crime update – December 2018

Welcome to the December 2018 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. This month, we would like to wish all of our regular readers a … Continue reading

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Filed under Announcements, Asia, Australia, Bribery and Corruption, Corporate Crime, Dubai, Europe, European Guidance, Hong Kong, India, Investigations, Investment Funds, Malaysia, Middle East, Philippines, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, Thailand, UK Government

From offline to online: upholding investor protection in sale of complex products

As investment services go digital, Hong Kong regulators have found it necessary to issue tailored guidance to protect investors. From 6 April and 23 August 2019 respectively, new guidelines from the Securities and Futures Commission (SFC) and the Hong Kong … Continue reading

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Filed under Announcements, Hong Kong, Investment banking, Investment Funds, Non-UK regulation, Sector Updates by Herbert Smith Freehills

Brexit Outline Political Declaration: Initial indicators for the financial services industry

Yesterday’s announcements on the terms agreed for the UK’s withdrawal from the EU say relatively little about the future framework for cross-border trade in goods or services.  More detail is expected on this next week. The draft withdrawal agreement provides … Continue reading

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Filed under Article 50, Asset management, Banking, Draft Legislation, EU, Europe, Funds, HM Treasury, Investment Funds, UK

Casting the regulatory net over virtual assets – new regulation in Hong Kong for crypto fund managers, fund distributors and trading platforms

Yesterday, the Securities and Futures Commission (SFC) published a statement (Statement), together with a press release, setting out its new regulatory framework for virtual assets (also known as cryptocurrencies, crypto-assets and digital tokens). 

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Filed under Announcements, Asia, Banking, Hong Kong, Investment banking, Investment Funds, Regulatory Reform, Sector Updates by Herbert Smith Freehills

STANDARDISED RULES FOR PRESCRIBING PROFESSIONAL INVESTORS TARGETED FOR IMPLEMENTATION IN HONG KONG ON 13 JULY 2018

Last Friday, the SFC published the conclusions to its consultation on amendments to the Securities and Futures (Professional Investor) Rules (PI Rules), to standardise the rules for prescribing individual and corporate professional investors (PIs).

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Filed under Announcements, Hong Kong, Investment Funds

FCA publishes proposals to extend the Senior Managers and Certification Regime

The FCA has published proposals to replace the Approved Persons Regime with the Senior Managers and Certification Regime (SMCR) currently in force for banks. Almost all financial services firms will be required to comply with the SMCR. There is a … Continue reading

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Filed under Asset management, Banking, Funds, Investment banking, Investment Funds, UK

Managing risk: a disputes perspective (2017)

Herbert Smith Freehills recently held its annual disputes client conference exploring some key legal and compliance risks facing major corporates. Following opening remarks by Mark Shillito, head of dispute resolution for the UK and US, there were presentations on cyber … Continue reading

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Filed under Banking, Commercial Litigation, Insurance, Investigations, Investment banking, Investment Funds, Retail Banks, UK

#MAR_bitesize

Investment recommendations Increased scope The former Market Abuse Directive (MAD) imposed requirements designed to ensure the objective presentation of investment recommendations and the disclosure of interests and conflicts of interest on the part of producers or disseminators of such recommendations.  … Continue reading

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Filed under Asset management, Banking, EU, Investment banking, Investment Funds, Uncategorized

AIFMs, UCITS managers and proprietary trading firms: EU MAR surveillance and STORs requirements apply

With just under 5 weeks to go before the Market Abuse Regulation comes into application across the EU, the European Securities and Markets Authority (ESMA) on Monday clarified that the obligations to detect and report market abuse under Article 16(2) … Continue reading

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Filed under Asset management, Banking, EU, Funds, Insurance, Investment banking, Investment Funds, Uncategorized

Market abuse update – April 2016

This will be our last quarterly Market Abuse update before 3 July 2016, the date when both the new Market Abuse Regulation and the Criminal Sanctions (Market Abuse) Directive come into application across Europe. Some significant pieces of the regulatory … Continue reading

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Filed under Americas, Asset management, Australia, Banking, Estonia, EU, Europe, European Regulation, France, Germany, Insurance, Investment banking, Investment Funds, Italy, Liechtenstein, Spain, Ukraine, Uncategorized, US