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Showing 9431 - 9440 of 9543 matches filtered by 'Funds and asset management'

  • FSB: Progress note on the Global LEI Initiative

    11/12/2012
    FSB has published its fourth progress note on the above.
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  • FSB: Third meeting of FSB’s Regional Consultative Group for the Americas

    11/12/2012
    The meeting took place on 10 December 2012 in Bermuda and this short note reports that matters under discussion included Legal... Entity Identifier, shadow banking and the implementation of Basel III.
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  • EC: Actions expected to be adopted in 2012

    10/12/2012
    The EC has published a revised version of this document in tabular format which sets out legislative and non-legislative proposals
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  • HMT: Tax information sharing agreement with Isle of Man

    07/12/2012
    The Government is to sign a tax information sharing agreement with the Isle of Man which will provide HMRC with a... range of additional information about potentially taxable income in Manx bank accounts. Under the enhanced information exchange agreement, the UK and Isle of Man will automatically exchange a wide range of information on tax residents, on a reciprocal basis. To minimise burdens on financial institutions the agreement will follow, as closely as practicable, the UK-US Agreement to Improve International Tax Compliance and to Implement FATCA. The agreement will be concluded to the same timetable as the agreement currently being negotiated between the Isle of Man and the United States. It is noted that details of the necessary operational and implementation requirements are still being discussed and will be announced in due course.
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  • The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2012/3043

    07/12/2012
    These Regulations amend the Authorised Investment Funds (Tax) Regulations 2006/964) (“the principal Regulations”). Regulation 48(2) of the principal Regulations provides... that when a dividend distribution is made by an authorised investment fund to a participant chargeable to corporation tax, the unfranked part of the distribution is treated as an annual payment received by the participant after deduction of basic rate income tax. Paragraph (2A) of regulation 48 however provides that this treatment is not given to dividend distributions which are within the charge to corporation tax on trade profits. Regulation 2 amends regulation 48(2A) of the principal Regulations, and corrects an inadvertent change made by the insertion of that paragraph, to provide that the effect of regulation 48(2) is preserved for dividend distributions which are received in respect of certain long-term life assurance business, referred to as non-BLAGAB long-term business, a term defined in section 66(5) of the Finance Act 2012 (c. 14). (Date in force: 1/1/2013)
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  • HMT/HMRC: Autumn Statement: Regulation – general

    05/12/2012
    Among other matters, the Government will take steps to reduce the regulatory burden that might constrain infrastructure investment by: introducing legislation... in the Enterprise and Regulatory Reform Bill and amending the CMA framework to increase the incentives for regulators to make better use of their concurrent competition powers, to seek pro-competition solutions to market failures.
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  • EC: Proposal for a Directive of the European Parliament and of the Council amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and Directive 2011/61/EU on Alternative Investment Funds Managers in respect of the excessive reliance on credit ratings/b) Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EC) No 1060/2009 on credit rating agencies - Approval of the final compromise text

    05/12/2012
    The Presidency has conducted negotiations with the European Parliament and the EC in view of reaching an agreement on the compromise... text with the aim of adoption of this compromise at first reading. On 30 November 2012 a provisional political agreement was reached.
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  • ESMA: Guidelines on repo arrangements for UCITS funds

    04/12/2012
    ESMA has published its final guidelines on repurchase and reverse repurchase agreements for UCITS funds. The guidelines state that UCITS should... only enter into such agreements if they are able to recall at any time any assets or the full amount of cash. Key elements of the guidelines are: for repurchase arrangements, UCITS should be able to recall at any time the assets subject to such arrangements; for reverse repurchase agreements, UCITS should be able to recall at any time the full amount of cash on either an accrued or a mark-to-market basis – but that when cash is recalled on a mark-to-market basis, the mark-to-market value of the reverse repurchase agreements should be used for the calculation of the net asset value of the UCITS; ESMA considers fixed-term repurchase and reverse repurchase agreements that do not exceed seven days as arrangements that allow the assets to be recalled at any time by the UCITS. The guidelines will now be translated into all EU languages and will be incorporated into ESMA’s Guidelines on ETFs and other UCITS issues, published in July 2012. The full set of guidelines will enter into force two months after the publication of the translations.
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  • ESMA: Speech by Verena Ross: ESMA’s role in markets reform (4 December 2012)

    04/12/2012
    Text of the above, given at the ICI Global Trading and Market Structure Conference in London follows. Topics include: ESMA’s... role and priorities; EMIR; MiFID; investment management and AIFM Directive.
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  • ESMA/FINMA: Supervision of alternative investment funds

    03/12/2012
    ESMA and FINMA have announced co-operation arrangements for the supervision of alternative investment funds, including hedge funds, private equity and real... estate funds. These include the exchange of information, cross-border on-site visits and mutual assistance in the enforcement of the respective supervisory laws. This co-operation will apply to Swiss alternative investment fund managers that manage or market alternative investment funds in the EU and to EU AIFMs that manage or market AIFs in Switzerland. The agreement also covers co-operation in the cross-border supervision of depositaries and AIFMs’ delegates. The agreement will take the form of a MoU. It is noted that ESMA is currently in contact with other non-EU authorities that are members of IOSCO, and is continuing to negotiate co-operation arrangements with the relevant authorities with a view to having these in place before July 2013 (according to the AIFM Directive, the fund industry from a non- EU country whose securities regulator does not have such co-operation arrangements in place by July 2013 will not be permitted to offer or manage AIFs in the EU).
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