Investment Funds Update: Europe - Issue 2, 2015

March 05, 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 2, March 2015


  • Société de Libre Partenariat - A New French Investment Structure
  • ACPR and AMF Communication Regarding Marketing Practices in France
  • Update of AMF Instruction Regarding Programme of Activities for French Management Companies and Self-Managed Funds


  • Germany Proposes Draft Law to Amend Stock Corporation Act
  • German Investment Fund Statistics
  • BaFin Guidance Notice on (Annex IV) Obligations for AIFs and AIFMs
  • Germany Proposes Draft Retail Investors Protection Act
  • Federal Ministry of Finance Guidance on Tax for Closed-Ended AIFs 


  • Latest Irish Fund Statistics: 30% Growth in AUM of QIAIFs
  • ICAV Update - Bill Passed by Irish Parliament
  • Central Bank Report on Anti-Money Laundering
  • Central Bank Publishes Enforcement Priorities for 2015
  • Central Bank Outline of Regulatory Plans and Legislative Developments 


  • Cross-Border Regulation – ALFI Response to IOSCO’s Consultation
  • KIDs for PRIIPs – ALFI Response to ESA Discussion Paper
  • Review of Technical Standards on Reporting under Article 9 of EMIR – ALFI Response to ESMA Consultation Paper
  • Asset Segregation Under AIFMD – ALFI Response to ESMA Consultation
  • 2014 - A Good Year for Luxembourg – ALFI Press Release 


  • FCA Study on Competition in Investment and Corporate Banking Services
  • Dealing Commission Consultation
  • FCA Publishes Market Abuse Review Findings
  • FCA Updates Guidance on Transaction Reporting
  • Investment Association Paper on Disclosure of Costs and Charges 

European Union

  • EMIR: Non-Deliverable FX Forwards and Interest Rate Swap Clearing
  • MiFID II: New Consultation Paper
  • Benchmark Regulation: Council and Commission Agreement
  • Capital Markets Union
  • ESMA Opinion and Advice on Investment-Based Crowdfunding 

Read Investment Funds Update: Europe - Issue 2