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Showing 9081 - 9090 of 9440 matches filtered by 'Funds and asset management'

  • The Alternative Investment Fund Managers Regulations 2013/1773 (previously reported on when in draft)

    17/07/2013
    These Regulations implement the majority of Directive 2011/61/EU of the European Parliament and the Council on Alternative Investment Fund Managers. ... (Date in force: 22/07/13)
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  • FCA: Non-UK AIFMs

    15/07/2013
    On this webpage, FCA notes that EEA AIFMs should be able to exercise management and marketing passport rights in the UK... in relation to certain types of EEA alternative investment fund on a services and/or establishment basis, from 22 July 2013 onwards. In order to exercise these rights, the EEA AIFM’s home Member State competent authority will need to send the relevant notification forms to FCA. This page sets out Q&As intended to assist firms and their advisers with this process, but it is emphasised that the Q&As are not a substitute for considering the relevant parts of HMT legislation, EU legislation and FCA Handbook or seeking professional advice, as appropriate. They do not purport to deal with issues arising out of the law of other Member States.
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  • FCA: CP13/5**: Review of the client assets regime for investment business

    12/07/2013
    This paper consults on material changes to the rules in relation to client money, custody assets and mandates. FCA asks... whether it should make a change to the client money distribution regime that will enable the insolvency practitioner of a firm that has begun insolvency proceedings to distribute client money based on the firm’s records (rather than agreed claims of clients). It is noted that if the Government introduces changes that could speed up the distribution of client money following the review of the Special Administration Regime (SAR – see below), then some of the proposals may not be necessary while others would be enhanced.  FCA is also proposing changes to the rules in relation to matters raised in recent insolvencies, including the valuation of positions open at the time of insolvencies, treatment of multiple currencies and payment of interest. In Part II of CP12/22, FCA proposed to introduce multiple client money pools. In this CP, it responds to feedback received and consults on a limited introduction of client money multiple pools for clearing member firms. FCA consults on proposals to changes to the client money rules and custody rules. The changes relate to a wide variety of aspects, including reconciliations, delivery versus payment exclusions, buffers, unclaimed client money and assets and acknowledgment letters. FCA has also decided to clarify other client money and custody rules, adding guidance where appropriate and restructuring sections to make the sourcebook easier to understand and navigate. FCA proposes the introduction of new disclosure requirements that would see firms report to their clients at least annually on the client assets protections they provide them. It also proposes to increase the scope of the mandate rules by requiring firms to establish and maintain adequate records and internal controls for all mandates, including those not obtained in written form. Changes to client money rules and client money distribution rules to comply with EMIR regulatory technical standards regarding indirect client clearing are also set out. .The document provides an update on work being carried out with regard to the SAR review and FCA notes that it will review the proposals in this CP in light of any changes the Government intends to make and will aim to implement (subject to consultation feedback) all the proposals unaffected by changes the government introduces to legislation. Responses are required by 11 October 2013, with the exception of proposals regarding EMIR regulatory technical standards – in this case, the closing date is 12 August 2013
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  • FCA: FSA Annual Report 2012/13

    10/07/2013
    FCA has published FSA’s final report made to HMT covering the period 1 April 2012 to 31 March 2013. It... covers the discharge of FSA’s functions under FSMA; the extent to which, in FSA’s opinion, the regulatory objectives under FSMA have been met; and FSA’s consideration of matters mentioned in s2(3) FSMA (principles of good regulation). The report is arranged in sections covering regulatory reform, delivering financial stability, delivering market confidence, delivering consumer protection, delivering a reduction of financial crime, international, delivering the operational platform, financial review and a directors’ report/corporate governance statement. Additional material on performance in 2012/13 including high-level indicators, can be found below. It is noted that the report will be discussed at FSA’s final annual public meeting on 18 July 2013.
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  • FCA: FSA enforcement annual performance account

    10/07/2013
    This report looks at the fairness and effectiveness of FSA’s enforcement function over the 2012/13 year; including an overview of the... enforcement action taken and statistical and background information about enforcement investigations and their outcomes. It also assesses the fairness and effectiveness of the enforcement process, based partly on feedback from the firms and practitioners that have been involved in the enforcement process. FCA intends to continue to produce such a report in the future, noting that, as a result of feedback in response to FSA CP13/6, changes to the report were made to make it clearer on what has been focused on over the last year and lessons learned.
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  • ESMA: Draft regulatory technical standards on information requirements for assessment of acquisitions and increases in holdings in investment firms (MiFID)

    09/07/2013
    The proposed standards set out in this consultation are based on the CEBS, CESR and CEIOPS ‘Guidelines for the prudential assessment... of acquisitions and increases in holdings in the financial sector required by Directive 2007/44/EC’ and a February 2013 report issued by the EC to the European Parliament, the Council, the European Economic and Social Committee, and the Committee of Regions on the application of Directive on acquisitions and increase of holdings in the financial sector. Responses are required by 9 September 2013. ESMA will consider the responses it receives in Q4, and will finalise the draft standards for sub-mission to the EC by 1 January 2014 for endorsement.
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  • ESMA: Protocol on the operation of notifications of MiFID Article 41 suspensions and removals of financial instruments from trading

    08/07/2013
    This protocol has been created to ensure effective co-operation between competent authorities with respect to their obligations under Article 41 of... MiFID.
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  • BIS: Capital requirements for banks' equity investments in funds

    05/07/2013
    This consultation sets out proposals that would revise the prudential treatment of banks' equity investments in funds. The Basel II framework... outlines the current treatment of banks' equity investments in funds under the Standardised Approach and the Internal Ratings-Based (IRB) approaches for credit risk and BIS believes that the existing standard would benefit from further clarity in some areas and more appropriately reflect the risk of a fund's underlying investments and its leverage as well as helping to address risks associated with banks' interactions with shadow banking entities. Responses are required by 4 October 2013
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  • ESMA: Consultation on guidelines on AIFMD reporting obligations

    05/07/2013
    ESMA has published the responses to this consultation, which can be downloaded individually via the following link.
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  • European Parliament: Consultation on the coherence of EU financial services legislation

    05/07/2013
    ECON held a consultation on enhancing coherence of EU financial services legislation in March 2013 and has now published the responses... which can be downloaded individually via the link below. Contributors include: BoE, FCA, FSCP and HMT. The responses are now being analysed to determine the best way to follow-up on the issues raised
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