News & Insights

ESMA on the AIFMD passporting regime in regards to non-EU AIFMS AND AIFS

by Emma Cleveland|27 October 2015|Industry News

In a speech held on 13 October 2015 Steven Maijoor, the Chair of the European Securities and Markets Authority (“ESMA”), discussed ESMA’s work in relation to the passport under the Alternative Investment Fund Managers Directive (“AIFMD”) in front of the European Parliament’s ECOFIN committee. Some of the key issues covered in Mr Maijoor’s speech included the functioning […]

ESMA Q&A on AIFMD application on depositories and CSDs

by Emma Cleveland|22 October 2015|Industry News

On 1 October 2015, the European Securities in Markets Authority (“ESMA”) updated their Q&A on the application of the Alternative Investment Fund Managers Directive (“AIFMD”) in relation to depositaries.

Financial Advice Market Review – Call for Input

by Emma Cleveland|20 October 2015|Industry News

In a publication issued on 9 October 2015, the HM Treasury and the Financial Conduct Authority (“FCA”) announced a call for input in regards to their Financial Advice Market Review (“FAMR”) which aims to look at how financial advice could work better for consumers (the “Consultation”).

Capital Markets Union Action Plan

by Emma Cleveland|14 October 2015|Industry News

On 30 September 2015, the European Commission (the “Commission”) published their Capital Markets Union (“CMU”) action plan on helping build a true single market across the 28 EU Member States and unlocking a free flow of capital throughout. Some of the key motivations for the launch of the CMU are to create a more favourable […]

Future of the financial markets

by Emma Cleveland|7 October 2015|Industry News

On 16 September 2015, in a speech by Greg Medcraft, Chairman of the Australian Securities and Investments Commission (“ASIC”) and Chairman of the International Organization of Securities Commissions (“IOSCO”), the key topic of discussion was the future of the financial markets and the impact that technological innovation has had and will have on them. In […]

FCA – Supervision of fixed and flexible portfolio firms

by Emma Cleveland|30 September 2015|Industry News

In two publications from 18 September 2015, the FCA discuss their principles and approach to supervision of flexible and fixed portfolio firms. The FCA’s publications will be of interest to both types of firms in regards to fulfilling their regulatory obligations and ensuring their investors’ best interests are sufficiently addressed.

Proposal on using Legislative Reform Order to change partnership legislation for private equity investments

by Emma Cleveland|24 September 2015|Industry News

With around 35% of all assets managed in Europe being managed in the UK, the UK is a leading centre for fund management. The UK’s private equity and venture capital industry has continued to be the largest in Europe for a number of years and is accountable for more than €34 billion in investments being […]

UCITS V Impacts and Implementation

by Emma Cleveland|22 September 2015|Our Thinking

UCITS account for around 75% of all collective investments by small investors in Europe and so UCITS V will have a significant impact on a major part of the industry. With implementation planned for March 2018, it is important that firms prepare for the forthcoming changes that will need to be made to ie. their fund […]

UCITS V Implementation and other changes to the Handbook affecting investment funds

by Emma Cleveland|17 September 2015|Industry News

Undertakings for collective investment in transferable securities (UCITS) are regulated investment funds which can be sold to the general public throughout the European Union, due to their increasing popularity the importance of having common and harmonised standards for investor protection is becoming increasingly important. UCITS V seeks to address this issue along with a number […]

Interview with Legal Futures, 11 August 2015

by Emma Cleveland|16 September 2015|Our News

Cleveland & Co’s authorisation by the Solicitors Regulation Authority as an alternative business structure (ABS) has not gone unnoticed: in a recent interview by Legal Futures our managing director, Emma Cleveland, discusses the topic and Cleveland & Co’s business structure. In the article, Emma highlights the benefits to smaller businesses of becoming authorised as an […]