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 […]
Read moreby 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 […]
Read moreby 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 […]
Read moreby 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 […]
Read moreby 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 […]
Read moreby Victoria Smith|27 June 2022|Our Thinking
The High Court recently handed down a 200-page judgement in the case of Ivy Technology Ltd v Martin [2022], following a two-week trial. The High Court considered whether a seller of shares under a share purchase agreement (“SPA”), pursuant to which it purported to sell as the sole beneficial owner of 100% of the target […]
Read moreby Victoria Smith|21 June 2022|Our News
It’s official: Cleveland & Co are 10 year’s old! Here are some of our amazing global team who make it all possible. We’ve come a long way in 10 years and have big plans for the next 10! A huge thank you to all our clients and supporters who we have worked with over the […]
Read moreby Victoria Smith|16 June 2022|Our Thinking
SUMMARY On 20 April 2022, the Financial Conduct Authority (“FCA”) published its final statement regarding diversity and inclusion on company boards and executive management with a view to increasing the disclosure of diversity and inclusion on listed company boards and executive committees, with benefits to corporate governance and management decision making (“PS22/3”). PS22/3 sets out […]
Read moreby Victoria Smith|9 June 2022|Our News
We are delighted to let you know that our Managing Director for EMEA, Leela Fair, has been invited to speak about ESG Reporting as part of a panel slot for industry experts, hosted by RWS, at the forthcoming Summit for Asset Management. The Summit for Asset Management brings together the leading asset management firms to […]
Read moreby Victoria Smith|8 June 2022|Our Thinking
The Russian invasion of Ukraine has affected financial markets in many ways. Sanctions have been imposed in response to Russia’s invasion, and the Russian government has applied trading restrictions. Some securities, including some Ukrainian assets, have become illiquid or untradeable. Normal mechanisms for determining accurate and reliable valuation for some securities have stopped operating. The FCA’s […]
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