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Showing 81 - 90 of 179 matches filtered by 'Asset management'

  • TSC: FCA

    29/04/2016
    TSC has published a transcript of the evidence session held on 26 April 2016 attended by John Griffith Jones and Tracey... McDermott. Topics include: the independence of FCA, the interview process for the CEO post and the appointment of Andrew Bailey, SMR and the presumption of responsibility, conflicts of interest, FCA and the Panama Papers, MiFID II, FCA’s asset management review, the IPO regime, AML, customer redress and skilled persons reports.
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  • EC: Delegated Regulation in relation to MiFID II

    08/04/2016
    A Delegated Regulation supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to safeguarding of financial instruments... and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits has been adopted.
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  • FCA: TR16/3: Meeting investors’ expectations

    07/04/2016
    FCA has published the result of a thematic review that considered how firms ensure they manage funds and segregated mandates as... they say they will and looked at how firms monitor the appropriate distribution of their funds. It is emphasised that the regulator wants fund management firms to ensure that product descriptions are clear and correct because investors and financial advisers decide whether to invest in authorised investment funds based on this information; provide effective governance and oversight throughout the whole of a fund’s life, including funds that are no longer actively marketed; and identify trends that may indicate inappropriate sales by monitoring the distribution channels they select as part of their responsibilities as product providers. It is suggested that distributors should consider their responsibilities in light of FCA’s findings. FCA will write to all the firms in our thematic sample to provide individual feedback.
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  • IOSCO: Cyber security in securities markets – an international perspective,

    07/04/2016
    IOSCO’s report reviews different regulatory approaches related to cyber security and the potential tools available to regulators to respond to the... cyber risk. It includes details of some of the practices adopted by market participants and covers reporting issuers, trading venues, market intermediaries, asset managers and financial market infrastructures.
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  • EC: Money Laundering Directive inception impact statement

    07/04/2016
    The EC has published this statement which concerns certain specific amendments to MLD as it raises concerns that some Member States... have indicated that they intend to take national measures in these areas.
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  • FSB: Meeting in Tokyo on 30/31 March 2016

    31/03/2016
    Ahead of the G20 meeting taking place in Hangzhou in September 2016, FSB has published a note of its plenary meeting... to discuss 2016 priorities. Specific topics discussed include: asset management and market liquidity risks; shadow banking; “new and emerging vulnerabilities” (including market-based finance, misconduct, a reduction in correspondent banking, fin tech and climate risk) and OTC derivatives trade reporting.
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  • ESMA: Guidelines on sound remuneration policies under UCITS and AIFMD

    31/03/2016
    ESMA has published these guidelines along with a letter to the EC, Council and Parliament with regard to the proportionality principle... and remuneration rules in the financial sector, both of which may be downloaded via the press release below. With regard to UCITS, ESMA expresses its belief that it would not be appropriate for smaller and less complex fund managers to be subject in all circumstances to the requirements on the pay-out process and that it would be disproportionate to apply the requirements to relatively small amounts of variable remuneration and to apply certain requirements to certain staff when this would not result in an effective alignment of interests between the staff and the investors in the funds. Amendments to the AIFMD guidelines relates to the section of these guidelines dealing with the application of the remuneration rules in a group context and is intended to acknowledge the potential outreach of the CRD rules in a banking group, but it is noted that the current AIFMD guidelines will not be amended to bring them into line with the UCITS Guidelines pending clarification on the application of the proportionality principle
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  • FCA: Liquidity management for investment firms: good practice

    29/02/2016
    FCA has published this update on its work being conducted at the request of FPC on the potential risks posed by... open-ended investment funds investing in the fixed income sector. FCA has set out good practice that it observed during the project and which is applicable across the investment fund industry. FCA notes three areas of focus for firms to evaluate when assessing their liquidity management: tools, processes and underlying assumptions, operational preparedness and disclosure.
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  • FSB: Letter to G20

    29/02/2016
    FSB has now published a letter from Mark Carney, which was sent to G20 Finance Ministers and Central Bank Governors in... advance of their meeting in Shanghai on 26‑27 February 2016. This sets out FSB’s priorities for 2016, including plans to .addressing new and emerging vulnerabilities in the financial system, including potential risks associated with market-based finance, asset management activities, shadow banking, conduct, correspondent banking and climate change, assessing the systemic implications of fin tech innovations and promoting robust financial infrastructure.
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  • EC: Extract from speech by Jonathan Hill

    09/02/2016
    The EC has published an extract from a speech given on 9 February 2016 with regard to an approach to resolution... for CCPs and notes that a proposal for an effective recovery and resolution regime for clearing houses will be tabled towards the end of the year. With regard to insurance, he notes work undertaken with IAIS on managing risk, but states that “, we're not convinced that new EU legislation is needed” and adds that “we will take the same approach to the asset management sector”.
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