Legal & Regulation

With just over eight weeks to go before the AIFMD transposition deadline, Sebastien Danloy (pictured), Head of Investor Services Europe and Offshore at RBC Investor & Treasury Services, comments on late implementation and its effects on asset managers… »

The UK Financial Conduct Authority (FCA) has approved BATS Chi-X Europe’s application for Recognised Investment Exchange (RIE) status, with effect from 20 May 2013. »

The International Organisation of Securities Commissions (IOSCO) has published a consultation paper on Principles for Financial Benchmarks, which seeks public comments on a set of high-level principles for benchmarks used in global financial markets. »

The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have published a warning to retail investors about the dangers of investing in contracts for difference (CFDs). »

Eaton Vance Management has filed an application with the US Securities and Exchange Commission seeking exemptive relief to permit the offering of exchange-traded managed funds (ETMFs). »

The Cayman Islands Government is to adopt a Model 1 intergovernmental agreement (IGA) in response to the US Foreign Account Tax Compliance Act (FATCA). »

The European Exchange Traded Funds (ETF) market is caught in the cross fire of conflicting regulations and the varying approaches of national tax authorities, according to a survey of more than 30 promoters and participants, representing 90% of the European ETF industry’s total assets by promoter. »

Edhec-Risk Institute says transparency is both crucial to allowing users to assess the risks, relevance and suitability of indices and the most powerful tool to mitigate conflicts of interests existing across the indexing industry. »

By Richard Cassell and Kristin Konschnik, partners, Withers – The US Treasury Department has now released the long-anticipated final FATCA regulations (the ‘Regulations’), which build upon the foundation of the proposed regulations but contain some significant additions and modifications. »

The Securities and Exchange Commission is to partially lift the moratorium on applications for actively-managed exchange traded funds, introduced almost three years ago. »