News & Insights

EU Commission publishes RTS under SFDR in the Official Journal

by Victoria Smith|16 August 2022|Our Thinking

On 25 July 2022, the European Commission (the “Commission”) published the Commission Delegated Regulation (EU) 2022/1288 (the “Regulation”) in the Official Journal, setting out the details of the Regulatory Technical Standards (the “RTS”) relating to the Sustainable Finance Disclosure Regulation (the “SFDR”) and EU Taxonomy Regulation… next steps The finalised version of RTS has now […]

Updated guidance for CCIVs

by Victoria Smith|8 August 2022|Our Thinking

summary The Australian Securities and Investments Commission (“ASIC”) released two key materials regarding the licencing and additional requirements for corporate collective investment vehicles (“CCIVs”), effective from 1 June 2022. ASIC initially published CP360: Corporate Collective investment vehicles: Preparing for the commencement of the new regime (CP360) in March 2022, seeking feedback on proposed guidance regarding […]

Licensing relief in Australia: make hay while the sun shines

by Victoria Smith|4 August 2022|Templates & Guidance

Did you know that if you are a fund manager considering raising funds or providing other financial services in Australia, you may qualify for relief as a “Foreign Financial Services Provider” based on your having FCA authorisations? The Australian Securities and Investments Commission have recently extended the period of transitional relief to 31 March 2024. […]

Meet the Team: Helin Genc

by Victoria Smith|4 August 2022|Our News

At Cleveland & Co we love to celebrate our people and their successes. We’re delighted that Helin Genc, a member of our Legal team, has passed her LPC and is now a step closer to qualifying as a solicitor in England & Wales! To celebrate we sat down and asked Helin a few questions about […]

Financial Services: How will the UK regulate for the future?

by Victoria Smith|3 August 2022|Our Thinking

On 29 April 2021, the Financial Services Act 2021 (the “FSA 2021”) received Royal Assent. The main purpose of the FSA 2021 is to set forth a regulatory framework for financial services in the United Kingdom (“UK”) fit for today’s world. Following the wave of changes initiated by the FSA 2021 following the UK’s departure […]

FCA Handbook Notice No. 101

by Vicki McEwan|27 July 2022|Our Thinking

On 18 July 2022, the Financial Conduct Authority (“FCA”) published its Handbook Notice No.101, addressing the changes to its Handbook (the “Handbook”), along with relevant consultation feedback. The following instruments were introduced on the 23 June and 15 July 2022: Collective Investment Schemes Sourcebook (Side Pockets) (Russia) Instrument 2022 (“COLL Instrument”) Dormant Assets Instrument 2022 […]

Latest guidance on Sustainable Finance Disclosures (SFDR) for fund management companies

by Victoria Smith|20 July 2022|Our Thinking

background The European Commission (“EU Commission”), the European Securities and Market Authority (“ESMA”) and the European Supervisory Authorities (“ESA”) have recently published new (and eagerly anticipated) guidance for fund management companies on SFDR regulation[1].The trifold guidance (together, “Guidance”) included: conclusion The Guidance promotes supervisory convergence to combat greenwashing. Fund management companies should assess their sustainable […]

European Parliament: Draft report on AIFMD II

by Victoria Smith|12 July 2022|Our Thinking

On 16 May 2022, the European Parliament issued its draft report (“Report”) on the European Commission’s (“EC”) proposals to amend the existing Alternative Investment Fund Managers Directive (“AIFMD”). The Report, which reflects stakeholder feedback, seeks to align regulation with commercial and legal reality… next steps The Report’s proposals will be debated, following which, a majority […]

Funded class actions as managed investment schemes? Recent Australia Federal Court decision says no!

by Victoria Smith|30 June 2022|Our Thinking

On 16 June 2022, the Full Federal Court of Australia in LCM Funding Pty Ltd v Stanwell Corporation Limited [2022] FCAFC 103 (‘LCM’) held that funded class actions are no longer considered to be managed investment schemes (“MIS”) for the purpose of the Corporations Act 2001 (“CA 2001”)… next steps Parliament has not amended the […]

Cleveland & Co hires Artificial Intelligence specialist

by Victoria Smith|28 June 2022|Our News

Cleveland & Co is a pace setting firm that aims to find new ways to achieve better outcomes for our clients – keeping quality and satisfaction high whilst reducing their costs. In support of that aim we’re delighted to welcome Farzana Huq to the Cleveland & Co team as an AI specialist. Farzana will lead […]