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Showing 51 - 60 of 179 matches filtered by 'Asset management'

  • FCA: Asset management market study final report and consultation paper

    28/06/2017
    FCA’s final report has found that price competition is weak in a number of areas of the industry; investors are not... always clear what the objectives of funds are, and fund performance is not always reported against an appropriate benchmark. In addition, FCA found concerns about the way the investment consultant market operates. FCA has set out proposals, including the following: strengthening the duty on fund managers to act in the best interests of investors by using the SMR; requiring fund managers to appoint a minimum of two independent directors to their boards; introducing technical changes to improve fairness around the management of share classes and the way in which fund managers profit from investors buying and selling their funds; launching a market study into investment platforms; consulting on rejecting the undertakings in lieu of a market investigation reference regarding the institutional advice market to CMA and recommending that HMT looks at bringing investment consultants into FCA’s regulatory perimeter. In addition, FCA intends to support the disclosure of a single, all-in-fee to investors; support the consistent and standardised disclosure of costs and charges to institutional investors; recommends that DWP remove barriers to pension scheme consolidation and pooling and chairs a working group to look at fund objectives and to consult on how benchmarks are used and performance reported. FCA notes that some of these do not require consultation and are being brought forward, but other remedies on governance on technical changes are being consulted on in the paper published alongside the final report. Responses to this are required by 28 September 2017. FCA will consult on remedies relating to legislative initiatives such as MiFID II later on in 2017. The final report and annexes may be downloaded via the first link; the consultation appears in the second link.
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  • ESMA: Opinion on supervisory approach to relocations from the UK

    31/05/2017
    ESMA published an Opinion concerning the supervisory approach to UK financial market participants seeking to relocate to the remaining EU27. "The... UK plays a prominent role in EU financial markets and the relocation of entities, activities and functions to the EU27 creates a unique situation requiring a common effort, at EU level, to safeguard investor protection, the orderly functioning of financial markets and financial stability...Firms need to be subject to the same standards of authorisation and ongoing supervision across the EU27 in order to avoid competition on regulatory and supervisory practices between Member States. Effective and efficient supervision are essential to support the Capital Markets Union". ESMA intends to publish further guidance on this topic.
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  • ESMA: updated AIFMD and UCITS Q&A

    25/05/2017
    ESMA published updated versions of its AIFMD and UCITS question and answer documents. UCITS Q&A is accessible via the first link... below; AIFMD via the second.
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  • EC: Article 50

    03/05/2017
    It has been announced that the College of Commissioners has today sent a recommendation to the Council to open the Article... 50 negotiations with the UK, including draft negotiating directives. The press release includes links to the text and Michel Barnier's accompanying speech. The recommendation will be sent to the Council, where it is set to be adopted by the General Affairs Council on 22 May 2017.
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  • ESMA: Speech by Evert van Walsum: Credit Rating Agencies Regulation

    03/05/2017
    ESMA has published the text of a speech given ECON on 3 May 2017 which discusses level II measures and reports... under the CRA Regulation.
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  • FCA: Speech by Mary Starks: The view from the regulator: developing our approach

    10/03/2017
    Text of this speech, given on 10 March 2017, follows. Topics include: FCA’s future mission; competition; uncertainty and its effect... on consumers’ decision-taking and the asset management market study.
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  • FMLC: FCA asset management review

    28/02/2017
    FMLC has published a letter it has sent to FCA with regard to the November 2016 interim report, setting out a... number of issues with regard to definitions.
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  • FCA: discussion paper on illiquid assets and open-ended investment funds

    08/02/2017
    The FCA launched discussion paper (DP17/1)to gain stakeholder views on the practice of investing in illiquid assets through open-ended funds and... the challenges that can pose to managers and investors. Illiquid assets in the context of the DP may include land and buildings, infrastructure and financial assets such as unlisted securities. The deadline for responses is 8 May 2017.
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  • ESMA: MiFID II product governance

    17/01/2017
    ESMA has published the Securities and Markets Stakeholder Group’s response to ESMA’s October 2016 consultation, which raises various concerns, including the... fact that many asset managers fall outside the scope of MiFiD II and are not subject to the guidelines. It proposes that this is remedied when Level 1 legislation is updated, but that ESMA should consider potential mitigating approaches in the meantime.
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  • FSB: Policy recommendations to address structural vulnerabilities from asset management activities

    13/01/2017
    Further to a June 2016 consultation, FSB’s report sets out 14 final policy recommendations to address structural vulnerabilities from asset management... activities that could potentially present financial stability risks, which cover: liquidity mismatch between fund investments and redemption terms and conditions for open-ended fund units; .leverage within investment funds; operational risk and challenges at asset managers in stressed conditions and securities lending activities of asset managers and funds.
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