Funds & asset management

Reports, news and data relating to the funds & asset management sector.

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Status:

The Alternative Investment Fund Managers Directive (AIFMD) entered into force on 21 July 2011 and had to be transposed into member state law by 22 July 2013. In most cases it was also to be effective from this date. Certain AIFMs were allowed a transitional period, lasting up to 22 July 2014, in which to seek the necessary variation of permission, authorisation or registration prior to implementation. The Directive is now fully in effect and in force. In March 2016, ESMA published Final Remuneration Guidelines for UCITS and AIFMD.

Latest Reports

  • City, London

    The proposals in the UK Prime Minister’s speech on 17th January and the White Paper on 2nd February will require a new construct for cross-border regulatory coordination between the EU and the UK, which will operate in a complex legal and regulatory environment (outside the EU/EEA single market). CMS and ...

  • Glass sky

    Will Dibble (CMS Partner, UK) and Michael Cavers (CMS Partner, UK) held a seminar on PRIIPs Key Information Document requirements.

    Please click on the link in the title to download the PDF version of the seminar slides.

  • The FCA has published the findings from the regulatory sandbox’s first year in operation. Background The FCA’s regulatory sandbox (sandbox) allows firms to test new products, services and business models in a live market environment whilst maintaining appropriate consumer safeguards. The sandbox was established to support the FCA’s objectives of ...

  • Frankfurt, Germany

    The German financial regulator ("BaFin" – Bundesanstalt für Finanzdienstleistungsaufsicht) has recently issued the long-awaited draft guidance (ref.: WA 42-QB 4100-2016/0005, Erwerbbarkeit von Immobilien-Gesellschaften für Immobilien-Sondervermögen, "Guidance") on what structures can be used by international and German real estate funds for downstream investments whereby such investments still continue to satisfy the ...

  • Fibre optic cables

    The OECD opened a consultation on taxing the digital economy (here). The deadline for comments from the public was 13 October 2017 and all comments received will be made publicly available. A public consultation meeting will be held on 1 November 2017 at the University of California, Berkeley. Action 1 ...

See more reports

Agency Database

  • Alternative Investment Management Association (AIMA)
    Term:
    Alternative Investment Management Association (AIMA)
    Other Names:
    Definition:
    Area:
    Funds And Asset Management
    Type:
    Trade Association
    Country:
    International
    URL:
    http://www.aima.org/
  • Austrian National Bank
    Term:
    Austrian National Bank
    Other Names:
    Oesterreichische Nationalbank (ONB/OeNB)
    Definition:
    Contributes on a stability-oriented monetary policy; safeguards financial sability; provides general public and the busines community with high quality cash. The competent authority for the authorisation and supervision of payment institutions (article 20).
    Area:
    Banking
    Type:
    Regulator
    Country:
    Austria
    URL:
    http://www.oenb.at/en/
  • Bank of France
    Term:
    Bank of France
    Other Names:
    Banque de France
    Definition:
    Monitors and regulates the banking market. Competent authority for the authorisation and supervision of payment institutions (specifically within the Bank La comité des établissements de credit et des entreprises d'investissement and La Commission bancaire).
    Area:
    Banking
    Type:
    Regulator
    Country:
    France
    URL:
    http://www.banque-france.fr/accueil.html
  • Bank of Greece
    Term:
    Bank of Greece
    Other Names:
    Definition:
    Responsible for implementing the Eurosystem's monetary policy in Greece and safeguarding the stability of the Greek financial system.The competent authority for the authorization and supervision of payment institutions.
    Area:
    Banking
    Type:
    Regulator
    Country:
    Greece
    URL:
    http://www.bankofgreece.gr/Pages/en/default.aspx
  • Bank of Italy
    Term:
    Bank of Italy
    Other Names:
    Banca d’Italia
    Definition:
    Central bank: banking and financial supervision. The competent authority for the authorisation and supervision of payment institutions (article 20).
    Area:
    Banking
    Type:
    Regulator
    Country:
    Italy
    URL:
    http://www.bancaditalia.it/;internal&action=_setlanguage.action?LANGUAGE=en
  • Bank of Portugal
    Term:
    Bank of Portugal
    Other Names:
    Banco de Portugal
    Definition:
    Area:
    Banking
    Type:
    Regulator
    Country:
    Portugal
    URL:
    http://www.bportugal.pt/en-US/Pages/inicio.aspx
  • Bank of Spain
    Term:
    Bank of Spain
    Other Names:
    Banco de Espana
    Definition:
    Central bank. The competent authority for the supervision of payment institutions (note the competent authority for the authorization of payment institutions is the Spanish Ministry of Finance).
    Area:
    Banking
    Type:
    Regulator
    Country:
    Spain
    URL:
    http://www.bde.es/bde/en/
  • Bulgarian National Bank
    Term:
    Bulgarian National Bank
    Other Names:
    BNB
    Definition:
    Regulates and supervises other banks' activities for the purpose of ensuring the stability of the banking system and protecting depositors' interests. The competent authority for the authorisation and supervision of payment institutions.
    Area:
    Banking
    Type:
    Regulator
    Country:
    Bulgaria
    URL:
    http://www.bnb.bg/?toLang=_EN

Future Dates

* Estimated date

  • *Q4 2017

    European Commission expected to do the following - in relation to the Capital Markets Union - by end of Q4 2017:  publish a communication on post-trade;  adopt a legislative proposal specifying conflict of laws rules for third party effects of transaction in securities and claims; publish recommendation on private placements; publish communication on EU corporate bond markets; present measures to develop a secondary market for non-performing loans; and adopt a legislative proposal on prudential treatment of investment firms.

  • 1 January 2018

    A transitional period has been introduced up to this date to allow third countries to accommodate the rules. The third country regime provided by the existing CRA regulation remains unchanged; however, as the CRA III Regulation / Directive strengthen the regulatory framework for CRAs this transitional period has been introduced to allow third countries to adjust.

  • 1 January 2018

    Date on which EU Benchmarks Regulation will be fully in force and in effect.