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Europe: FCA Advances Efforts to Address the UK’s EU Legislative Legacy, Starting With MIFID

Following an HM Treasury policy statement, the FCA has published a consultation paper proposing amendments to some of the Markets in Financial Instruments Directive (MIFID) conduct of business and systems and controls rules...more

Global Survey of ESG Regulations for Asset Managers

Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more

UK Payments Regulation – Changes Are Coming

On 28 January 2021, the Financial Conduct Authority (FCA) published a consultation paper (CP21/3)1 proposing various changes to the UK regulation of payment services and electronic money. Most of the proposed changes relate...more

COVID-19: The United Kingdom’s Response to COVID-19: A Quick Guide for Global Investment Managers

The recent outbreak of the new coronavirus (“COVID-19”) has triggered a blizzard of actions from governments and regulators around the world. We recognize that it is very difficult to keep track of it all, and here, we offer...more

The UK Temporary Permissions Regime: Extension of passporting into the UK on a ‘no-deal’ Brexit

This alert is relevant in the context of a ‘no-deal’ Brexit only, although affected firms and fund managers may have to take certain actions before it is certain whether there will be a ‘no-deal’ Brexit. ...more

FCA Comments on the Extraterritorial Effect of MiFID II

In a letter to the Alternative Investment Management Association (AIMA) made available to AIMA members on Monday, August 7, the Financial Conduct Authority (FCA) responded to a request from AIMA seeking interpretation and...more

Competition Law Threat to Active Fund Managers

SCM Direct ("SCM"), an investment manager based in the UK, has recently called for the Competition and Markets Authority ("CMA") and Financial Conduct Authority ("FCA") to investigate actively managed funds sector for alleged...more

Brexit: Six-Point Action Plan for Asset Managers

The vote is in. On June 23, 2016, by national referendum, a 52% majority of British voters decided the question of whether the United Kingdom (UK) should leave or remain in the European Union (EU). The referendum turnout...more

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