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On January 28, the UK Government published the Financial Services (Consequential Amendments) Regulations 2020 (the Regulations). This is in response to the passing by the UK Parliament of the Withdrawal Act on Thursday last week, and in anticipation of the UK’s withdrawal from the EU (and start of the implementation period) on January 31 (for more information, please see the January 24 edition of Corporate & Financial Weekly Digest).…
On January 16, the House of Lords European Union Committee published a letter from the Chair, Lord Kinnoull, to John Glen, Economic Secretary to Her Majesty’s Treasury (the Letter). The Letter concerns the recently published Taxonomy Regulation (for more information please see the January 10 edition of Corporate & Financial Weekly Digest).…
On January 20, the Financial Conduct Authority (FCA) published a letter to the CEOs of UK-based alternative investment firms to outline the FCA’s view of the key risks of harm to the customers or markets in which such firms operate (the Letter). The FCA defines alternative investment firms as firms that predominately manage alternative investment vehicles (such as hedge funds or private equity vehicles), or manage alternative assets directly, or provide advice on such vehicles…
On January 20, the Financial Conduct Authority (FCA) published a letter to the CEOs of asset management firms to outline their view of the key risks of harm to the customers or markets in which they operate (the Letter). The FCA defines asset management firms as firms that predominately manage mainstream investment vehicles, excluding wealth managers and financial advisers.…
On January 20, the European Forum of Securities Associations (EFSA) published a letter to the European Commission (the Commission) outlining the changes they would like to see to the Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) (together, MiFID 2/R). This is in anticipation of the Commission’s review of MiFID 2/R in July 2020.…
On December 17, 2019, the European Commission published the text of the proposed “regulation on the establishment of a framework to facilitate sustainable investment,” which is also known as the “Taxonomy Regulation.” This forms part of the EU’s sustainable finance reforms. More information is available in the May 10 edition of Corporate & Financial Weekly Digest and December 13 edition of Corporate & Financial Weekly Digest.…