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Showing 9051 - 9060 of 9440 matches filtered by 'Funds and asset management'

  • The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013/1970

    09/08/2013
    These Regulations amend the Companies Act 2006 (c.46) (“the Act”) to insert new sections which provide for the preparation by companies... of a strategic report. The Regulations also amend the requirements for the contents of the directors’ report set out in Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (S.I. 2008/410) and in Schedule 5 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008/409). The Regulations amend the Act to substitute for summary financial statements the strategic report and supplementary material. Regulation 3 inserts a new Chapter 4A into Part 15 of the Act. New s414A requires companies (other than those eligible for the small companies regime for accounts) to prepare a strategic report. New s414B prescribes the content of that report, including a requirement to provide information regarding the employment of people of each sex within the company. New s414D require that the report shall be approved by the directors and signed by one of them. Regulation 5 repeals s417 (contents of directors’ report: business review) of the Act. It will no longer be a requirement for a business review to be prepared as part of the directors’ report. Regulation 6 amends section 416 (content of directors’ report) of the Act to omit the need for a statement by the company of its principal activities in the course of the year. Regulations 7 and 8 amend the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (S.I. 2008/410) and the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 (S.I. 2008/409) regulations which prescribe the contents of the directors’ report to remove certain items of information from the report, and limit the need to provide information on a company’s purchase of its own shares to public companies. S.I. 2008/410 is amended to require quoted companies to make certain disclosures regarding greenhouse gas emissions. Regulations 9 to 12 amend section 426 of the Act to substitute for a summary financial statement a copy of the strategic report and supplementary material. (Date in force; 1/10/13)
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  • FCA: The FCA approach to advancing its objectives

    09/08/2013
    The above-mentioned document was originally published on 24 July 2013. FCA notes that two bullets were missed from the section... “The principles of good regulation” starting on page 46. FCA has now uploaded a corrected version.
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  • FCA: Market Watch 44

    05/08/2013
    Topics include: an update on suspicious transaction reports; Turquoise derivatives transfer to LSE and recent enforcement cases.
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  • HMRC: Investment management exemption and collective investment schemes – expanding the “white list”

    02/08/2013
    This consultation proposes to amend the white list to include any transaction in rights under a life insurance policy and any... transferable unit relating to emissions of greenhouse gases. Responses are required by 16 September 2013.
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  • HMRC: Interest distributions from Authorised Investment Funds paid without deduction of tax

    02/08/2013
    This consultation proposes that a UK domiciled fund should be permitted to make available units in the fund from which interest... distributions will be paid without deduction of basic rate income tax provided that the units are sold through distributors who will market the units exclusively outside the UK. There would be no requirement on the distributors to establish the tax residence of investors who approach them from addresses outside the UK. Responses are required by 16 September 2013.
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  • HMRC: Residence of offshore funds - extending the scope of Section 363A Taxation (International and Other Provisions) Act 2010

    02/08/2013
    HMRC is consulting on proposals to widen the scope of the above to include those entities that are non-UCITS funds which... are within the definition of an offshore fund for UK tax purposes or which have a UK based manager that is either an FCA authorised AIFM or branch of an AIFM authorised in another member state. Responses are required by 14 October 2013.
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  • FCA/SEC: MoU concerning consultation, cooperation and the exchange of information related to the supervision of the relevant entities in the asset management industry

    02/08/2013
    This MoU sets out a framework on how the entities will work with each other with specific regard to the supervision... and oversight of managers and advisers of alternative investment funds, and delegates and custodians registered or regulated by them and which operate on a cross-border basis in their jurisdictions. It is effective from 22 July 2013.
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  • PRA: SS1/13: Credit risk: internal ratings based approaches

    02/08/2013
    The feedback statement confirms the approach PRA will take to consolidating FSA non-Handbook material communicated to firms on IRB approaches in... respect of the following topics: definition of default; probability of default; loss given default; exposure at default; income-producing real estate portfolios; unrated exposures and notification and approval of changes to approved models, PRA has revised the feedback statement to address respondents’ comments on: the identification of exposures; the reduction of conversion factors in anticipation of syndication; the application of the point-in-time stress tests applied by firms using variable scalar approaches; and the need for greater clarity in certain areas. The feedback statement also clarifies the application of the loss given defaults framework to social housing portfolios.
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  • FCA: AIFM Directive update

    02/08/2013
    This webpage sets out the latest information on the directive, including information on applications during the transitional period and a note... on Article 6(4). FCA has been asked to clarify the position of a firm that wishes to be authorised as a full scope UK AIFM and to provide other services as permitted by Article 6(4) of the Directive. Those services are regulated in accordance with certain provisions of MiFID (MiFID services".). The particular issue concerns whether an AIFM will be permitted to provide MiFID services on a cross-border basis. UK investment firms that are currently authorised under MiFID and provide services in other EEA states (or intend to do so in future) are affected if they also intend to become full scope UK AIFMs without establishing a separate legal entity. FCA’s position of FCA, in accordance with the approach agreed with HMT, is that an AIFM authorised to provide MiFID services should be able to exercise its single market rights by passporting those services to other EEA States and intends to carry out requests from authorised full scope UK AIFMs to notify the supervisory authority of another EEA State that the firm intends to provide services under Article 6(4) in that host state. However, the EC’s position, set out here, suggests that there is a risk that the Host State authority may refuse the notification, having regard to the Commission's opinion. FCA intends to engage with other EEA supervisory authorities and the EC to try to reach a common understanding that reflects FCA’s views.
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  • ESMA: Practical arrangements for the late transposition of the AIFMD

    01/08/2013
    This opinion proposes practical arrangements for the late transposition of the AIFM Directive. The scope of this opinion is confined... to the provision of collective portfolio management services..
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