06/02/2022
SEC Proposes Amendments to Rule Governing Fund Naming Conventions, Including Use of ESG Investing Practices
Depending on the circumstances and the type of fund name, an 80% Investment Policy may be fundamental or non-fundamental.
Government Regulation
06/02/2022
AIFMD Rapporteur proposes widening of ‘professional investor’ definition under AIFMD
These individuals do not currently fall within the definition of professional investor.
06/01/2022
Mourant Trusts Forums 2022
Attendees heard discussions on whether traditional trust structures were still fit for purpose in the modern era and discussions on panellists' experiences with fund-like and collective investment vehicles in a private client context.
06/01/2022
CASS governance: four factors for compliance
That’s why, in this blog, we break down the key factors that underpin effective CASS governance.
06/01/2022
ESMA Provides Supervisors With Guidance On The Integration Of Sustainability Risks And Disclosures In The Area Of Asset Management
This work will help combat greenwashing by establishing common supervisory criteria for National Competent Authorities (NCAs), to effectively supervise investment funds with sustainability features.
06/01/2022
Guernsey legal and regulatory update June 2022
Together with the Guernsey Green Fund, this new designation would allow Guernsey funds a choice of complementary sustainability designations based on globally agreed environmental standards.
05/31/2022
A "UK Listing": the FCA unveils proposals for a new-look UK listing regime to boost growth and competitiveness
As well as making these specific changes, the FCA initiated, as part of its July 2021 Primary Markets Effectiveness Review
05/31/2022
The importance of carrying out regular independent AML audits
The importance and the benefits of carrying out regular independent AML Audits.
05/31/2022
Nigel Green fined and banned for five years in South Africa
The investigation revealed that Brite which was formerly known as deVere Investments South Africa (Pty) Limited, and deVere SA Acuma (Pty) Ltd, during the period 22 February 2010 to 1 August 2015 contravened various financial sector laws.
05/31/2022
Kuwait Insurance Executive Regulations to come into force June 2022
The Executive Regulations provide a transition period of 15 months until 30 June 2022
05/31/2022
FCA Review of AML failings at challenger banks
The use of innovative technology and non-traditional methods of identity verification (such as passport photo images and video selfies) have enabled customers to be onboarded quickly.
05/30/2022
DWF strikes Hong Kong affiliation agreement
Hauzen has five partners and one of-counsel, specialising in financial services regulation, contentious insurance and complex commercial matters, and arbitration.
05/30/2022
Addleshaw Goddard: Financial Services & Banking News
The FCA is continuing its discussion on how it can make the listing regime, the rules companies must follow to be allowed to list their shares in the UK, more effective, easier to understand and more competitive.
05/30/2022
US SEC Proposes Rules Regarding ESG for Certain Funds and Advisers
The amendment also seeks to clarify the rule’s application to derivatives investments by stating that, in applying the 80 percent requirement, a fund should use a derivative investment’s notional amount and not its market value.
05/30/2022
EU data protection guidance brings welcome news for UK suppliers
Businesses will no longer be able to rely on the 2004 or 2010 SCCs to transfer data to third countries from 27 December this year.
05/27/2022
Financial Services & Banking News
The FCA has also published the Grid in the form of an interactive dashboard and an Excel spreadsheet to help users interact with the underlying data.
05/27/2022
Ireland confirms ‘side pockets’ will be permitted for Russian-impacted funds
The UCITS must obtain investor approval before initiating the transfer, and must provide them with a clear description of the costs and fees associated with setting up the side pocket and any ongoing costs and fees.
05/26/2022
EU Commission proposes rules on freezing and confiscating assets of oligarchs violating restrictive measures and of criminals
They are helped by the existing legal loopholes, as the rules on breaches of EU restrictive measures vary across Member States.
05/26/2022
New disclosure rules for non-UK owners of UK land
The UK Government has stated that Companies House will work to implement the Register as quickly as possible.
05/26/2022
Addleshaw Goddard: Financial Services & Banking News
The BoE will engage with firms individually and collectively to help target efforts, and also share best practice.