Investment Funds Update: Europe- Issue 11, 2015

December 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 11, December 2015

FRANCE

  • Socially Responsible Investment in France
  • Market Timing and Late Trading
  • French Markets Key Figures: Asset Management Companies’ Profitability

GERMANY

  • BaFin Issues Announcement on Fair Treatment of Investors
  • BaFin issues FAQ on German Act Implementing Transparency Directive Amending Directive 2013/50EU
  • Six Retail AIFs Registered in Germany in the Third Quarter of 2015
  • Investment Statistics as of 30 September 2015

IRELAND

  • Irish Funds Publishes CRS Self-Certification Forms
  • Central Bank Updates AIF Rulebook
  • Central Bank Publishes Updated AIFMD Q&A
  • Central Bank Management Feedback Statement and Guidance (CP86)
  • Update to Central Bank Prospectus Handbook
  • CP97: Investment Firm Regulations

LUXEMBOURG

  • CSSF Press Release 15/49 Relating to the New Transparency Requirements for Issuers of Securities and Notifications of Major Holdings
  • CSSF Overview of Undertakings for Collective Investment and Specialized Investment Funds at the End of October 2015
  • CSSF Regulation 15-03 in Relation to Marketing of Alternative Investment Funds
  • CSSF Newsletter for November 2015

UK

  • UK Tax – Changes to Taxation of Asset Manager Performance-Based Rewards
  • FCA launches Asset Management Market Study
  • FCA Announces New UK Debt Market Forum
  • HM Treasury Names High-Risk Jurisdictions for Money Laundering
  • HM Treasury Publishes Draft Technical Legislative Amendments for UCITS V

EUROPEAN UNION LEGAL DEVELOPMENTS

  • EMIR – CCP List Updated and Equivalence Decisions Reached, Central Clearing for Norwegian, Polish and Swedish Interest Rate swaps, Though no Exemption for Collateralisation of Bank Guarantees for Energy Derivative
  • Capital Markets Union – Further Endorsement from European Council
  • MiFID II Implementation
  • Other EU Developments – Deal Reached on Benchmark Regulation and Revisions to Prospectus Directive

Read "Investment Funds Update - Europe - Issue 11, 2015".