21Shares AG has published its updated 2020 prospectus, following approval by the Swedish Financial Supervisory Authority (SFSA – Fi.se).
Legal & Regulation
By Matthew Chapman (pictured), Director, ACA Compliance Group – Geopolitical change and uncertainty, regulatory sabre-rattling and industry shake-ups have combined to create a perfect storm for many financial services firms when it comes to their trade and transaction reporting obligations under MiFIR, EMIR and SFTR.
Invesco has reached the final regulatory stage in it its effort to build its own active non-transparent ETF model.
Get in now if you are in the UK and want to invest in derivatives or ETNs based on cryptocurrencies – the UK’s Financial Conduct Authority has banned them. The ban will come into effect on 6 January 2021 but the FCA warns that UK consumers should continue to be alert for crypto-derivative investment scams, writing: “As the sale of derivatives and ETNs that reference certain types of cryptoassets to retail consumers is now banned, any firm offering these services to retail consumers is likely to be a scam”.
By A Paris – This year will be forever remembered as the one which saw a global pandemic taking over the world, widespread travel restrictions and significant market volatility. But in Singapore, 2020 can be considered in a more favourable light. Despite the less than auspicious environment, the jurisdiction reaped success in launching a new fund structure, generating manager interest in an otherwise turbulent period.
By Mark Voumard, Gordian Capital – Readers will be familiar with onshore domiciles such as Dublin or Luxembourg. How does Singapore differ?
“The introduction of the Variable Capital Company (VCC) structure earlier this year has been the latest in a number of initiatives undertaken by the Singapore government to grow the city state’s fund management industry and achieve its ambition of being the gateway to asset management opportunities in Asia”, says Allard de Jong, Head of the Fund Administration, Corporate Trust and Custody team of the Portcullis Group.
The outlook for the penetration of the Variable Capital Company legislation as a fund structure is upbeat as it soldiers on against the unfortunate timing of its launch, amid a global pandemic. More importantly, in practice the legislation works well and the fund launches have been successful.
The ASEAN region has demonstrated itself as a major area for investment and potential growth. However, much of this growth is still on the horizon and yet to be materialised. For the prospects of the ASEAN region to reach their true potential, the current environment requires cost efficiency, scalability and talent. These are critical factors to creating a supportive ecosystem.
The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) programme incentivises firms to modernise operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This programme, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.