Category Archives: Fund Regulation

EUROPE: Additional Time for Reporting by Investment Firms, Fund Management Companies and AIF Managers

The European Banking Authority (EBA) has provided 31.3. details on its call for competent authorities to offer leeway on reporting dates. EBA urges competent authorities to offer at most one-month…

EUROPE: ESMA Updates Risk Assessment in Light of the COVID-19 Pandemic

The European Securities and Markets Authority (ESMA) has published an update to its risk assessment to account for the impact of the COVID-19 pandemic. The pandemic, in combination with existing…

UNITED KINGDOM: Prudential Regulation Authority publishes Solvency II

On 2nd April 2020, the Prudential Regulation Authority (PRA) published Policy Statement 9/20 (PS9/20) providing feedback to responses to Consultation Paper (CP) 23/19 ‘Solvency II: Income producing real estate loans and…

SPAIN: Reporting Obligations for CISMCs and Closed-Ended CISMCs in View of COVID-19

The CNMV is closely monitoring the impact that the situation arising from COVID-19 is having on firms subject to supervision, inter alia, Collective Investment Schemes (CISs) Venture Capital Vehicles (VCVs)…

UNITED KINGDOM: FCA Flexibility Over 10% Depreciation Notifications Until the End of September

Firms providing portfolio management services or holding retail client accounts that include leveraged investments are currently required to inform investors where the value of their portfolio or leveraged position falls…

UNITED KINGDOM: FCA Moving to New Data Collection Platform which will Replace Gabriel

The FCA will be moving to a new data collection platform which will replace Gabriel. Gabriel is the FCA’s main regulatory data collection system, facilitating the collection of over 500,000…

EUROPE: ESMA Consults on Guidance to Address Leverage Risk in the AIF Sector

On 27th March 2020, the European Securities and Markets Authority (ESMA) launched a consultation on its draft guidance to address leverage risks in the Alternative Investment Fund (AIF) sector. The consultation…

EUROPE: ESMA Clarifies Position on SFTR Backloading

The European Securities and Markets Authority (ESMA) has issued a revised version of its 19 March Public Statement on coordinated supervisory actions on the application of Securities Finance Transactions Regulation (SFTR). The…

UNITED KINGDOM: Joint statement by the FCA, FRC and PRA

The Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA) announced a series of actions to ensure information continues to flow to investors and support the…

UNITED KINGDOM: AIC Responds to FCA Speech on Less Liquid Assets in Open-Ended Funds

The Association of Investment Companies (AIC) issued its response to a speech given by Edwin Schooling Latter, Director of Markets and Wholesale Policy at the FCA, to members of the Investment…