by Emma Cleveland|22 August 2016|Awards
We are thrilled to announce that Cleveland & Co have been shortlisted for the Law Society’s tenth annual Excellence Awards in the category ‘Excellence in Business Development’. In this category, the judges are looking for ‘examples of business development initiatives that challenge convention and create greater added value.’ The winners will be announced at an […]
Read moreby Emma Cleveland|27 July 2016|Industry News
The asset management industry has grown exponentially in the past decade, for example, through an increased variety of fund structures and cross border distribution. Consequently, this means that vulnerabilities associated with asset management activities need to be monitored. Therefore, since its launch in March 2015, the Financial Stability Board (“FSB”) has been addressing these potential […]
Read moreby Emma Cleveland|26 July 2016|Our News
One of our new clients has recently been in the press: Kepler Partners LLP has launched its first Dublin based UCITS platform which gives investors access to its Kepler Liquid Strategies ICAV and its sub-fund; KLS Zebra Global Equity Beta Neutral. As the shares of the fund will be marketed to the general public in […]
Read moreby Emma Cleveland|21 July 2016|Industry News
The FCA commissioned the Occasional Paper no.17 (the “Paper”) as a means of bringing together the views and opinions from both academics and the FCA in order to stimulate ideas and solutions with the aim of improving access to retail financial services. Instigating this type of conversation plays a part in the wider issues of […]
Read moreby Emma Cleveland|20 July 2016|Industry News
The FCA’s modification by consent of its Conduct of Business Sourcebook (“COBS”), rule 14, means that any firm that is required to provide a key investor information document (“KIID”) to a client must do so after the transaction has taken place rather than before. Initially, this modification was valid until June 2016 but it will […]
Read moreby Emma Cleveland|13 July 2016|Industry News
On the 8 June 2016, the European Commission (the “EC”) adopted the latest Delegated Acts to supplement MiFID II and its regulatory technical standards (“RTS”) in relation to the reporting requirements and obligation to execute orders on terms most favourable to the client (article 27). Notwithstanding the recent Brexit decision and until there is further […]
Read moreby Emma Cleveland|6 July 2016|Our Thinking
The Financial Conduct Authority (“FCA”) brought proceedings against Asset Land Investment plc along with its principal owner and director, Mr. Banner-Eve (the “Appellants”). The Appellants had been found to be operating an unauthorised real estate collective investment scheme (“CIS”).
Read moreby Emma Cleveland|28 June 2016|Industry News
On 8 June 2016, ESMA published their draft regulatory technical standards (“RTS”) for the European Long Term Investment Fund (“ELTIF”) regime. An ELTIF is an Alternative Investment Fund (“AIF”) that must be managed by an Authorised Fund Manager (“AIFM”) under AIFMD. Subject to certain conditions, the ELTIF regime will allow fund managers to have access […]
Read moreby Emma Cleveland|14 June 2016|Industry News
A key note speech by Verena Ross, Executive Directive of ESMA, has recently been published. In the speech, Verena notes how MiFID II/MiFIR is one of the key reform measures in response to the financial crisis, its main aim is to make financial markets more stable and more transparent for investors, therefore it is important that all the […]
Read moreby Emma Cleveland|9 June 2016|Industry News
The European Securities and Markets Authority (“ESMA”) issued an Opinion on 30 May 2016 in response to a letter sent by the European Commission (“Commission”) asking to amend its draft RTS 20 under MiFID II and MiFIR. RTS 20 provides the necessary criteria to establish when a non-financial firm’s commodity derivatives trading activity is considered […]
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