Investment Funds Update: Europe- Issue 9, 2015

October 07, 2015

Dechert's investment funds update discusses the key legal and regulatory updates for the funds industry from the primary European asset management centres and fund domiciles

Issue 9, October 2015



  • French SICAV – Reduction of the Minimum Number of Shareholders for Unlisted SICAV
  • Publication by the AFG of Summary Asset Allocations for French FIVG and UCITS


  • Implementation of the European Transparency Directive 2013/50/EU in Germany
  • AIFMD Reporting and Troubleshooting
  • Update German UCITS V Implementation Act
  • Investment Statistics as of 31 July 2015


  • UCITS Rulebook
  • Central Bank Correspondence on Cyber Security
  • Client Asset Regulations Now Effective
  • Latest Fund Statistics for Ireland


  • Developments in the Luxembourg Financial Sector (UCITS V bill, AIFMD FAQ update, FATCA)
  • ALFI Releases FAQs on RQF II
  • Audit Regulators in the United States and in Luxembourg Enter into Cooperation Agreement
  • Accessible Compendium of Investment Fund Laws and Regulations


  • FCA MiFID II Roundtable Notes Delays in Consultation Timetable
  • FCA Consults on UCITS V Implementation and Related Handbook Changes
  • Hedge Fund Standards Board Issues Cyber-Security Memo


  • AIFMD – Updated Q&As Clarify Position on Sub-Delegation of Custody by AIF Depositaries
  • EMIR - New Guidance on Updating LEIs
  • MiFID II – Final Report and Draft Regulatory and Implementing Standards Published
  • Capital Markets Union – Action Plan launched
  • Other EU developments – Market Abuse Regulation and Central Securities Depositories Regulation
  • Challenge of Reporting Under AIFMD

Read "Investment Funds Update - Europe - Issue 9, 2015".