News & Analysis as of

United Kingdom Collective Investment Schemes

Goodwin

A New UK-based Unauthorised Fund Vehicle Now Available - The Reserved Investor Fund

Goodwin on

The new UK fund vehicle Reserved Investor Fund (RIF) is available beginning today, 19 March 2025. The RIF is available for all investment strategies, but what might make it an appealing option, particularly certain tax...more

Goodwin

Shielding Staking from UK Funds Regulation: The First Crypto Law of 2025

Goodwin on

In a previous alert, we identified that the definition of a collective investment scheme (CIS) could capture on-chain staking, and that the UK government, acting through the HM Treasury (HMT), was looking to clarify the...more

A&O Shearman

UK Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025 published

A&O Shearman on

The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025 has been published, alongside an explanatory memorandum. The Order includes a new paragraph 22 to the Schedule to the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptoasset Staking Excluded From the UK Fund Compliance Regime

On 8 January 2025, the UK’s HM Treasury issued a statutory instrument amending the scope of “collective investment schemes” (the Amendment) under the Financial Services and Markets Act 2000 (Collective Investment Schemes)...more

Latham & Watkins LLP

UK Government Confirms Staking Services Are Not Collective Investment Schemes

Latham & Watkins LLP on

A recent statutory instrument aims to remove legal uncertainty surrounding crypto staking and ease blockchain operations. On 9 January 2025, the UK Government published the Financial Services and Markets Act 2000...more

Hogan Lovells

UK – New statutory instrument on cryptoasset staking

Hogan Lovells on

On 9 January 2025, the widely anticipated Statutory Instrument exempting cryptoasset staking from the meaning of “collective investment schemes” as defined under the Financial Services and Markets Act 2000 (FSMA 2000) was...more

A&O Shearman

Speech: UK government's Approach to Tokenization and Regulation

A&O Shearman on

HM Treasury has published a speech given on November 21, 2024, by Tulip Siddiq, Economic Secretary to the Treasury, on the U.K. government's approach to tokenisation and regulation. In the speech, Ms. Siddiq confirms that HM...more

A&O Shearman

UK Regulations Amending Temporary Recognition and Marketing Regimes for CCPs and Collective Investment Schemes

A&O Shearman on

The Collective Investment Schemes (Temporary Recognition) and Central Counterparties (Transitional Provision) (Amendment) Regulations 2024 have been published, alongside an explanatory memorandum. The Regulations amend the...more

A&O Shearman

UK Draft Regulations Amending Temporary Recognition and Marketing Regimes for CCPs and Collective Investment Schemes

A&O Shearman on

A draft version of the Collective Investment Schemes (Temporary Recognition) and Central Counterparties (Transitional Provision) (Amendment) Regulations 2024 has been published, alongside a draft explanatory memorandum. The...more

Proskauer - Tax Talks

HMRC Announces Welcome Changes to the QAHC Regime

Proskauer - Tax Talks on

On 20 July 2022, the UK government published draft legislation for the Finance Bill 2022-2023. Of particular interest are amendments to be made to the qualifying asset holding company (QAHC) regime that was introduced...more

Hogan Lovells

Funds and asset management regulatory news, May 2021 # 2

Hogan Lovells on

EU cross-border distribution of funds: ESMA guidelines on marketing communications - Following its consultation in November 2020, the European Securities and Markets Authority (ESMA) has published a final report on...more

Hogan Lovells

Funds and asset management regulatory news, March 2021

Hogan Lovells on

Collective investment schemes: IOSCO workstreams on liquidity risk management The International Organization of Securities Commissions (IOSCO) has launched a thematic review on the implementation in member regulatory...more

Hogan Lovells

Funds and asset management regulatory news, January 2021

Hogan Lovells on

TMPR: FCA update on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has updated its webpage on adding a new sub-fund to an umbrella scheme in the temporary marketing permissions regime (TMPR)...more

Hogan Lovells

Funds and asset management regulatory news, December 2020

Hogan Lovells on

TMPR: FCA webpage on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has published a new webpage on adding a new sub-fund to an umbrella scheme that will be in the temporary marketing...more

Hogan Lovells

Funds and asset management regulatory news, November 2020 # 4

Hogan Lovells on

Bearer Certificates (Collective Investment Schemes) Regulations 2020 - The Bearer Certificates (Collective Investment Schemes) Regulations 2020 (SI 2020/1346) have been published, together with an explanatory memorandum....more

Proskauer Rose LLP

UK Tax Round Up - February 2020

Proskauer Rose LLP on

UK General Tax Developments - HMRC updates to the private sector IR35 rules - On 7 February 2020, HMRC confirmed that the new private sector IR35 rules will only apply to payments made for services provided on or...more

Proskauer Rose LLP

UK Tax Round Up - December 2019

Proskauer Rose LLP on

UK Case Developments - IR35 – no mutuality of obligation to create a contract of employment - RALC Consulting Ltd v HMRC has provided the First-tier Tribunal (FTT) with another opportunity to consider the application...more

White & Case LLP

Financial Regulatory Observer – March 2019: FRO in-depth: The future of cryptoassets regulation

White & Case LLP on

Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles About FINRA Notices on Cybersecurity and Margin Requirements and No-Deal...

BROKER-DEALER - FINRA Issues Information Notice Regarding Suspicious Email Sent to Member Firms - On February 13, the Financial Industry Regulatory Authority (FINRA) published an information notice alerting member firms...more

White & Case LLP

ICOs and Security Tokens: FCA Consults on Crypto Guidance

White & Case LLP on

The UK FCA launched on 23 January 2019 its highly anticipated consultation1 (CP19/3) on Guidance for market participants as to where certain cryptoassets sit in relation to the regulatory perimeter - and whether relevant...more

Proskauer Rose LLP

UK Tax Round Up - November 2018

Proskauer Rose LLP on

General UK Tax Developments - Finance Bill - The Finance (No 3) Bill 2018-19 (which will become the Finance Act 2019) was published on 7 November and includes legislation to enact the changes highlighted in our UK Budget...more

A&O Shearman

UK Conduct Regulator Consults on Illiquid Assets and Open-Ended Funds

A&O Shearman on

The U.K. Financial Conduct Authority has launched a consultation on illiquid assets and open ended funds, following responses from stakeholders to a discussion paper it issued early in 2017. After observing the impact of...more

Cadwalader, Wickersham & Taft LLP

UK Budget 2017 – Key Tax Measures

The Chancellor of the Exchequer delivered the UK Budget for 2017 on 22 November 2017. Delivered against the backdrop of the UK’s ongoing negotiations to exit from the European Union, the Budget featured a significant...more

A&O Shearman

UK Regulator Consults on UCITS, SFTR and consequential Changes to the Handbook

A&O Shearman on

The Financial Conduct Authority published a consultation paper outlining proposed changes to the rules and guidance in the Client Assets sourcebook and the Collective Investment Schemes sourcebook (COLL), following the...more

Cooley LLP

Blog: UK Supreme Court Decision In Asset Land Investment Plc -V- The FCA: The Meaning Of “Collective Investment Scheme”

Cooley LLP on

The UK’s Supreme Court has handed down its judgment in Asset Land Investment Plc -v- the FCA. The judgment, which upholds the decisions of the lower Courts, is consistent with the FCA’s long-held position on the meaning and...more

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