Asset Management

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  • ESMA’s updated Q&As on UCITS KIIDs – key changes and action points for managers

    Article

    Submitted: 08 April 2019

    The European Securities and Markets Authority’s (ESMA) updated Q&As bring in various changes to a UCITS’s Key Investor Information Document (KIID). This Note looks at some of the more important implications of ESMA’s guidance and offers some action points which managers should be taking to ensure compliance.

  • ESMA updates its Market Abuse Q&As

    Article

    Submitted: 04 April 2019

    On 29 March 2019, the European Securities and Markets Authority (ESMA) updated its Q&As, “On the Market Abuse Regulation (MAR)” providing clarification on (a) the obligation of an undertaking with no legal personality to disclose inside information, (b) the meaning of "parent" and "related undertakings" and (c) the disclosure of inside information concerning emission allowances.

  • Calculation of leverage - ESMA updates Q&As on the AIFMD

    Article

    Submitted: 04 April 2019

    On 29 March 2019, the European Securities and Markets Authority (ESMA) updated its Q&As, "Application of the AIFMD" to include two new Q&As, which provide guidance on how, and how frequently, an AIF’s leverage should be calculated.

  • UCITS KIIDs - ESMA updates its Q&As with clarification on disclosure of past performance and benchmark indices

    Article

    Submitted: 03 April 2019

    On 29 March 2019, the European Securities and Markets Authority (ESMA) published updated Q&As on the UCITS Directive. In modifying one existing Q&A, deleting another and including four new ones, ESMA has clarified how a UCITS should disclose past performance and benchmark indices in its Key Investor Information Document (KIID).

  • The Global LEI System and Other Unique Identifiers

    Article

    Last Reviewed: 31 March 2019 / Submitted: 10 February 2014

    An overview of the Global LEI System considering some of its practical implications for financial institutions and, in particular, its relationship to the reporting obligations under EMIR including Unique Transaction Identifiers and Unique Product Identifiers.

  • EMIR Newsflash: ESMA public statement on calculation against clearing thresholds

    Article

    Submitted: 29 March 2019

    ​An overview of the European Securities and Markets Authority's (ESMA) statement on the implementation of the new EMIR Refit regime for the clearing obligation for financial and non-financial counterparties.

  • The UK TPR - FCA to extend the period to make notifications to 11 April

    Article

    Submitted: 27 March 2019

    The FCA has stated that it intends to extend to 11 April the deadline for inbound passporting EEA firms and funds to notify it of a wish to enter the UK’s Temporary Permissions Regime – updates to already made notifications can be made no later than 02 April 2019.

  • Don’t delay! The FCA’s notification window for the TPR closes on 28 March 2019

    Article

    Last Reviewed: 26 March 2019 / Submitted: 14 March 2019

    If the UK leaves the European Union (EU) without a withdrawal deal (a Hard Brexit), EEA firms and funds which want to make use of the UK’s Temporary Permissions Regime (TPR) must notify the FCA of their intention before close of business on Thursday 28 March 2019.

  • BaFin publishes clarification on the distribution of UK-domiciled funds in Germany in the event of a no-deal Brexit

    Article

    Submitted: 26 March 2019

    The German finanical services regulator, the BaFin, has published clarification regarding the position of asset managers wishing to distribute a UK-domiciled fund in Germany following a no-deal Brexit.

  • More good news for Irish funds industry as Central Bank permits investment in Chinese bonds through Bond Connect

    Article

    Submitted: 26 March 2019

    ​In a letter to Irish Funds dated 21 March 2019, the Central Bank of Ireland (the Central Bank) confirmed that it will shortly update its AIFMD and UCITS Q&As to reflect that the acquisition of Chinese bonds via Bond Connect would permit a depositary to meet its safekeeping obligations under AIFMD or the UCITS Directive, provided the depositary of the AIF or UCITS (or a sub-custodian) ensured that it retained control over the bonds at all times.

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