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Showing 9061 - 9070 of 9440 matches filtered by 'Funds and asset management'

  • FMLC: Response to the European Parliament Committee on Economic and Monetary Affairs’ Public Consultation on enhancing the coherence of EU financial services legislation

    31/07/2013
    This paper sets out instances of incoherence or inconsistency which FMLC has identified in a number of legislative areas, including risk... retention requirements under CRD II, CRR, AIFMD, Solvency II and UCITS; the use of netting-related terms in RRD; the rules for determining the location of assets in the Insolvency Regulation; the civil liability of credit rating agencies under CRA III); the civil liability of custodians under the proposals to amend UCIS V; European Parliament proposals to amend MAR and MiFID II as those proposals pertain to algorithmic and high frequency trading and client asset protections MiFID and the proposed RRD
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  • EBA/EIOPA/ESMA: Final draft regulatory technical standards on the consistent application of the calculation methods under Article 6(2) of the Financial Conglomerates Directive under Regulation (EU) No 575/2013 (Capital Requirements Regulation -CRR) and Directive 2013/36/EU

    30/07/2013
    The ESAs have published this document. The standards define the appropriate application of calculation methods for the determination of required... capital at the financial conglomerate level. Their underlying principles are to eliminate multiple gearing and intra-group creation of own funds, transferability and availability of own funds and to cover deficit at financial conglomerate level having regard to definition of cross-sector capital.
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  • The Authorised Investment Funds (Tax) (Amendment) Regulations 2013/1772

    30/07/2013
    These Regulations amend the Authorised Investment Funds (Tax) Regulations 2006/964 and inserts regulations 46A and 46B. Regulation 46A provides that an... annual payment made to a participant in an authorised investment fund is not a qualifying annual payment for the purposes of Chapter 6 of Part 15 of the Income Tax Act 2007 (deduction from annual payments and royalties) if certain conditions are met (so such payments will not be subject to a duty to withhold a sum representing income tax on the payment). Regulation 46B reapplies tax withholding provisions in certain cases where the condition requiring the person making the payment to have reasonable grounds for believing that the participant is not resident in the UK is met but in fact the participant or, in the case of a trust, the beneficial owner is not resident in the UK. (Date in force: 7/08/13)
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  • The Offshore Funds (Tax) (Amendment No. 3) Regulations 2013/1770

    30/07/2013
    These Regulations amend the Offshore Funds (Tax) Regulations 2009 (“the principal Regulations”) which make provision for the tax treatment of participants... in offshore funds. Regulation 1 deals with citation, commencement and effect. Authority for the limited retrospective effect is given by section 354(6) of the Taxation (International and Other Provisions) Act 2010. Regulation 2 introduces the amendments to the principal Regulations, inserts Part 3A which contains regulations 124A and 124B and makes a consequential amendment to regulation 2 to refer to refer to Part 3A. Regulation 124A provides that an annual payment made to a participant in an offshore fund is not a qualifying annual payment for the purposes of Chapter 6 of Part 15 of the Income Tax Act 2007 (deduction from annual payments and royalties) if certain conditions are met (so such payments will not be subject to a duty to withhold a sum representing income tax on the payment). Regulation 124B reapplies tax withholding provisions in certain cases where the condition requiring the person making the payment to have reasonable grounds for believing that the participant is not resident in the United Kingdom is met but in fact the participant or, in the case of a trust, the beneficial owner is not resident in the UK. (Date in force: 7/08/13)
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  • The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 3) Order 2013/1765

    30/07/2013
    This Order makes transitional provision and amendments to subordinate legislation in connection with the Financial Services Act 2012 (c.21), Article 2... makes transitional provision in connection with the Act. Articles 3 to 10 and article 12 make consequential amendments to subordinate legislation in connection with the Act. Article 11 amends subordinate legislation which makes transitional provision in connection with the Act. (Date in force: 1/09/13)
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  • BofE: Sir Jon Cunliffe appointed Deputy Governor for Financial Stability

    26/07/2013
    HM Treasury has today announced that Her Majesty The Queen has agreed, on the recommendation of the Chancellor and Prime Minister,... to appoint Sir Jon Cunliffe as Deputy Governor of the Bank of England with responsibility for Financial Stability, starting on 1 November 2013.
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  • EC: State aid: Commission consults on draft Guidelines for supporting risk finance investments 

    24/07/2013
    The European Commission is consulting the public on draft guidelines on how Member States can support the provision of risk finance... to small and medium sized enterprises (SMEs). Based on the results of a first consultation in July 2012, the draft proposes more flexibility in defining eligible companies and forms of financing. It is aimed at further enhancing the ability of SMEs to access finance, in line with the objectives of the Europe 2020 Strategy. Comments can be submitted until 17 September 2013. In light of the submissions, the Commission will then adopt new guidelines at the end of 2013.
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  • FCA: Ensuring markets work well for consumers and for firms – FCA publishes guidance on its approach to objectives

    24/07/2013
    The Financial Conduct Authority’s (FCA) mandate to ensure there is effective competition in financial services markets represents the most significant change... to the new regulatory regime, said Chief Executive Martin Wheatley today. Publishing the latest guidance on how the FCA intended to deliver its statutory responsibilities, The FCA Approach To Advancing Its Objectives, Martin Wheatley focused on the objective to promote effective competition in consumers’ interests. He said markets that work well offer consumers the best chance to get the products they need at the right terms. This will also benefit those firms that place consumers at the heart of their business.The FCA will examine whether consumers are in a position to drive healthy competitive markets and if not, what needs to change. This will include how easily new businesses can enter the markets, whether existing regulation distorts competition and the ease with which consumers can understand their needs, access suitable products and change suppliers.
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  • GOV: Policy paper Finance Bill 2013: March to June 2013

    24/07/2013
    A series of amendments, explanations and drafts comprising the 2013 Finance Bill.
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  • EBA: launch of a quantitative impact study to assess capital impact of proposals for the calculation of additional value adjustments (AVAs)

    23/07/2013
    On 10 July 2013, the EBA published a consultation paper on draft regulatory technical standards (RTS) on prudent valuation, which set... out a methodology to calculate AVAs for the purpose of determining the prudent value of fair valued positions. The EBA will use the QIS to finalise the draft RTS and to calibrate the thresholds and underlying assumptions of AVAs.
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