Funds

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Recent Articles

  •  
    20/02/2024
    United Kingdom

    Economic Crime and Corporate Transparency Act 2023: changes expected to come into force on 4 March 2024

    From Spring 2024 we expect the role of Companies House and the Registrar of Companies (Registrar) to change significantly from simply incorporating companies and being a largely passive information recipient and depository to being a pro-active regulator with clear objectives and the powers to fulfil them.Changes affecting the ongoing administration of companies and limited liability partnerships are also expected to come into force at the same time. Although no implementing regulation has been published yet, Companies House has announced that the date it is working to is 4 March 2024.The changes...
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  •  
    20/02/2024
    Europe

    Listing Act: provisional agreement reached between the EP and the Council

    IntroductionOn 7 December 2022, the European Commission (EC) submitted a package of measures known as the “Listing Act” (the Act), aiming at making public markets more attractive for European Union (EU) companies by facilitating access to capital for small and medium-sized companies (SMEs) (Refer to our earlier publication on this topic for more detail on the initial proposal)On the one hand, the Act put forward several amendments to Regulation (EU) 2017/1129 of the European Parliament (the EP) and of the Council (the Prospectus Regulation), Regulation No 596/2014 of the EP...
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  •  
    14/02/2024
    EU

    The EU Parliament and Council reached an agreement on ESG rating

    On 5 February 2024, the European Parliament (the Parliament) and the Council of the European Union (the Council) reached a provisional agreement on the EU Commission's proposal from June 2023 for a regulation governing environmental, social, and governance (ESG) rating activities. This rating aims to offer an assessment of a company's or a financial instrument's sustainability profile, ultimately bolstering investor confidence in sustainable products. ESG ratings' new rules appear as a priority, as they will strengthen the reliability and comparability of ESG ratings and improve the transparency...
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  •  
    09/02/2024
    Europe

    ESMA reports on impact-washing concerns around funds focused on the United Nations Sustainable Development Goals

    IntroductionOn 1 February 2024, the European Securities and Markets Authority (ESMA) published an article on the efficiency of funds focused on the United Nations Sustainable Development Goals (SDG), in which it questioned the fulfilment of their promises. ESMA’s article defends the importance of this subject, highlighting that the existence of well-known sustainability frameworks such as SDGs in impact claims requires specific attention to ensure that products and strategies aiming at fostering such objectives stand true to their claims.With EUR 74bn in assets under management in September...
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  •  
    19/12/2023
    Europe

    ESAs propose amendments to the SFDR RTS

    Continuing the theme of frequent changes to the application of the Sustainable Finance Disclosure Regulation (“SFDR”), the European Supervisory Authorities (“the ESAs”) are introducing amendments to the Level 2 Regulatory Technical Standards (“Level 2”). These amendments are separate from the current, and more wide ranging, consultations on the nature of the SFDR regime.BackgroundIn April 2022, the European Commission mandated the ESAs to (1) develop draft regulatory technical standards (“RTS”) on the further disclosure of Principal Adverse Impacts...
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  •  
    07/12/2023
    United Kingdom

    FCA’s Consultation Paper on Implementing the Overseas Funds Regime (“OFR”)

    On 4 December, the FCA launched a consultation to implement the framework to enable non-UK domiciled funds to be marketed to UK retail investors under the OFR (“OFR recognised schemes”). We briefly summarise the FCA's proposals.Who does this impact?Operators of non-UK domiciled funds that either are within the Temporary Marketing Permissions Regime (“TMPR”), or who wish to market non-UK funds to UK retail investorsLux and Irish UCITS funds are commonly invested in by UK retail investors and so this will also be of real relevance to operators of those fundsUK Distributors...
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