News & Insights

Good Practices for the Termination of Investment Funds – Consultation Report by the IOSCO

by Emma Cleveland|15 September 2016|Industry News

Purpose The Board of the International Organization of Securities Commission (“IOSCO”) have recently published a consultation paper in order to obtain stakeholders’ views on a set of proposed good practices for investors to voluntarily terminate collective investment schemes and other types of funds such as hedge funds, commodities and real estate. The IOSOC are producing these […]

Commercial contracts – key cases of 2015

by Emma Cleveland|14 September 2016|Our Thinking

Our key cases glance card contains practical take away points and drafting tips from some of the most notable cases of 2015 in regards to commercial contracts. Please click below to access it. Should you have any questions regarding any commercial contract matter, Cleveland & Co, your ‘External in-house Counsel’, is here to help.

UK: C&Co shortlisted for Law Society award 2016

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 […]

Financial Stability Board addresses structural vulnerabilities within the asset management sector

by 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 […]

Kepler Liquid Strategies UCITS platform has just been launched

by 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 […]

Access to financial services in the UK

by 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 […]

NURS Key Investor Information

by 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 […]

Latest MiFID II Delegated Regulations adopted by the European Commission

by 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 […]

FCA wins case on unauthorised collective investment scheme

by 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”).

ESMA’s technical standards for European Long-Term Investment Funds.

by 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 […]