EU warns regulators to prevent ‘letter box’ investment firms
A European watchdog has urged a crackdown on investment firms setting up ‘letter box’ entities across the continent in the wake of the Brexit vote.
ESMA
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Fresh pressure on asset managers over ‘closet trackers’
A campaign group has demanded asset managers explain charging active fees on funds which it claims could be so-called ‘closet trackers’.
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Esma gives AIF passport opinion for 12 non-EU jurisdictions
The European Securities and Markets Authority has published its advice on 12 jurisdictions seeking passporting rights for alternative investment funds (AIFs) giving seven a clear go-ahead with five others getting a qualified approval.
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ESMA called on to complete non-EU AIFMD passport reviews
The European Securities and Markets Authority has come under pressure to complete its assessment on whether nine countries, including the US, Singapore and Hong Kong, should get access to the marketing ‘passport’ under the Alternative Investment Fund Managers Directive (AIFMD).
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FCA chairman wants “less is more” approach to wealth manager regulation
FCA chairman John Griffith-Jones has spoken out on the “realistic, if not ideal” delay to MiFID II, while acknowledging the need for a “less is more” approach to the regulation of wealth managers
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ESMA publishes final standards for MiFID II
The European Securities and Markets Authority (ESMA) has released its final technical standards for MiFID II and the Market Abuse Regulation (MAR), which set out how the new legislation will work in practice.
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Trade groups welcome ‘crucial’ european capital markets union
European financial trade bodies have unanimously welcomed in the European Commission’s green paper on creating a Capital Markets Union, describing it as an opportunity to support the industry’s “sustainable economic growth and long-term financing”
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FCA backs ESMA on dealing commission
The FCA is showing strong support for the European Securities and Markets Authoritys (ESMA) stance on dealing commission as it prepares its own line ahead of Mifid II, coming in from 3 January 2017.
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AIFMD expansion consultation closed by ESMA
A consultation on whether to extend the Alternative Investment Fund Managers Directive (AIFMD) beyond Europe has closed, and will now be used to determine the European Commissions legislative stance on the matter.
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ESMA aims for improved investor protection
ESMA has introduced a wave of additional investor protection measures in its final technical advice on the implementation of the Markets in Financial Instruments Directive II (MiFID II).
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IMA criticises inappropriate ESMAs
The UK Investment Management Association (IMA) has criticised ESMA for suggesting that non-UCITS collective investment funds are more complex than UCITS funds in its “inappropriate” consultation on MiFID II.
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IMA calls for conference alternative solution ESMA
The IMA has said it intends to hold a conference to establish an alternative model countering the proposal set out by the European Securities and Markets Authority (ESMA) on restricting the use of dealing commissions to pay for investment research.