News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 9021 - 9030 of 9543 matches filtered by 'Funds and asset management'

  • FCA: Handbook Notice 9/Instruments

    03/03/2014
    FCA has published details of instruments passed at its Board meeting on 27 February 2014. These are: Consumer Credit Instrument... 2014/11, Consumer Credit (Consequential and Supplementary Amendments) Instrument 2014/12; Alternative Investment Fund Managers Directive (Consequential Amendments) Instrument 2014/14; Employers’ Liability Insurance: Disclosure by Insurers (No 5) Instrument 2014/15; Conduct of Business Sourcebook (Platforms) (Amendment No 2) Instrument 2014/16; Designated Investment Exchanges (No 2) Instrument 2014/17. The Board also approved FCA 2014/13 which will be published at a later date. The Instruments will be available to download via the second link.
    Support Information
    Show more Show less
  • European Parliament: UCITS V

    26/02/2014
    This press release announces an agreement by the European Parliament and member states on a draft text which clarifies who is... liable for mismanagement of funds and tailors fund managers' remuneration rules in order to encourage them to take reasonable risks and a long-run view. It reports that companies would be fined up to 10% of their annual turnover or €5m and individuals up to €5m. The sanctions would also consist of fines up to twice the amount of profits made. Penalties would include a suspension of authorisation and temporary or permanent ban from fund management for the perpetrators. Depositaries would be required not to act without authorisation and would have to keep investors' money clearly separate from their own assets. They would be barred from investing these funds on their own account. Depositaries could also be deemed liable for any loss of assets, even if they delegate custody of them to a third party. It is suggested that ESMA prepare guidelines on to whom in the company the pay policy applies.
    Support Information
    Show more Show less
  • FCA: Notes to assist the completion of the AIFMD Schedule of AIFs form for full-scope AIFMs

    26/02/2014
    The Schedule of AIFs form requires details on those AIFs that the AIFM intends to manage and/or market, including AIFs domiciled... in the UK, EEA, outside the EEA and those described in Articles 74 and 75 of the AIFM Regulations 2013. It is noted that, during the course of the application process, if there are any changes to the AIFs detailed (including the addition of new AIFs) then the AIFM should make the amendments to the original Schedule of AIFs and resubmit it, rather than using a new form.
    Support Information
    Show more Show less
  • Law Societies Joint Brussels Office: Company law and financial services tracker (February 2014)

    25/02/2014
    This details the current status of various relevant Directives and European-level proposals.
    Support Information
    Show more Show less
  • ESMA: AIFMD MoUs

    20/02/2014
    ESMA has published an updated chart of AIFMD MoUs signed by the EU authorities.
    Support Information
    Show more Show less
  • FCA: Modifications by consent directions (CASS, COLL, COBS)

    19/02/2014
    FCA has published the above, in relation to CASS 1A.1.1R(3), COLL 5.6.22R and COBS/COLL.
    Support Information
    Show more Show less
  • IMA: The use of dealing commission for the purchase of investment research

    18/02/2014
    IMA’s report considers the benefits and challenges of the current model and looks beyond the UK rules to consider the impact... of change. It identifies a number of advantages and challenges inherent in the current model and proposes recommendations for IMA members to further improve current practice in governance and budget-setting. The report proposes “eight measures of a good regime for research payments” , of which four are client-facing and four are market-facing, against which the benefits of the existing model, and any alternatives, can be assessed and compared. IMA confirms that it is willing to work with FCA to assess alternative business models, including a "pure cash model".
    Support Information
    Show more Show less
  • ESMA: Application of the AIFMD

    18/02/2014
    This Q&A document sets out responses to questions posed by the general public and competent authorities in relation to the practical... application of the AIFMD. ESMA intends to update it on a regular basis to identify if, in a certain area, there is a need to convert some of the material into ESMA guidelines.
    Support Information
    Show more Show less
  • FCA: Capital Alternatives

    17/02/2014
    In these press releases, FCA notes that the High Court has ruled that two investment schemes, promoted by Capital Alternatives and... a number of other firms, were unauthorised collective investment schemes. They were promoted and operated without FCA Authority authorisation. The defendants in the case had structured their schemes to try to avoid the need to be FCA regulated. It is noted that the judge has granted leave to appeal on certain aspects of the judgment so FCA will have to wait until any appeal hearing and its outcome.
    Support Information
    Show more Show less
  • FCA: AIFMD capital – “additional own funds” Article (9)(3)

    17/02/2014
    FCA has updated its AIFMD webpage with regard to the above, noting that, following representations from a number of firms, it... has been considering its interpretation of the definition of “funds under management” for the purposes of Article 9(3) AIFMD. FCA has decided that the current requirement can lead to disproportionate outcomes in certain circumstances and will consult on amending the requirement in a forthcoming quarterly CP. The proposed change will allow for derivatives to be valued at their market value rather than requiring them to be converted to their underlying positions when calculating the value of portfolios. It draws attention to the recently published modification by consent (IPRU(INV) 11) which can be used in appropriate circumstances in the meantime..
    Support Information
    Show more Show less