On 26 March 2024, the Technology Working Group – an industry group established by the Government to examine the impact of technology on the UK’s investment management sector – published its second report, entitled ‘Further Fund Tokenisation: Achieving Investment
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FCA publishes finalised guidance on financial promotions on social media
On 26 March 2024, the Financial Conduct Authority (FCA) published finalised guidance (FG24/1) clarifying its expectations on how financial promotions should be communicated on social media by firms as well as others, such as influencers.
Background
The FCA consulted in…
Communication to the Commission on the intention to amend RTS specifying obligations concerning hedging derivatives, redemption policy and liquidity management tools, trading and issue of units or shares of an ELTIF and transparency requirements
On 26 March 2024, the European Commission (the Commission) published a Communication on the intention to adopt, with amendments, a Commission Delegated Regulation supplementing Commission Delegated Regulation (EU) 2015/760. The regulatory technical standards (RTS) in the proposed Commission Delegated Regulation…
ECON report on the proposed Regulation to modernise the PRIIPs KID
On 26 March 2024, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) published a report on the proposed Regulation amending Regulation (EU) No 1286/2014 as regards the modernisation of the key information document. The report sets out a…
ESMA consults on draft technical standards under the EU Green Bond Regulation
On 26 March 2024, the European Securities and Markets Authority (ESMA) issued a consultation paper containing draft technical standards supplementing the EU Green Bond Regulation. The consultation paper is the first of two consultations planned by ESMA with the other…
Published in OJ – AIFMD 2
On 26 March 2024, there was published in the Official Journal of the EU, Directive 2024/927 of 13 March 2024, amending the Alternative Investment Fund Managers Directive and the UCITS Directive as regards delegation arrangements, liquidity risk management, supervisory…
Lloyd’s 2.0 Metallica 0.0 for Covid-19 concert cancellation claim
On 18 March 2024 the California appellate court dismissed an appeal by Frantic Inc, professionally known as heavy metal band Metallica, claiming losses under a Cancellation, Abandonment and Non-Appearance Insurance policy because it was subject to a Communicable Disease exclusion excluding…
US jury finds insurer liable for crash by deployed tow truck
In mid-March 2024 a Kentucky state jury found liability of $164 million against an insurance company which had sent out a tow truck on a roadside assistance job which rear-ended a motorist leaving her quadriplegic. In the end of the jury…
MiCAR – ESMA final reports on first set of technical standards and third consultation package
On 25 March 2024, the European Securities and Markets Authority (ESMA) published two final reports on its first set of regulatory technical standards (RTS) and implementing technical standards in relation to the Markets in Crypto-Assets Regulation (MiCAR). ESMA has also…
FCA publishes new webpage on AIFM hosting
On 25 March 2024, the Financial Conduct Authority (FCA) published a new webpage on alternative investment fund manager (AIFM) hosting.
The webpage provides information for AIFMs using the host model to manage alternative investment funds (AIFs), known as AIFM…