By: Jim Bulling and Simon Kiburg
On 21 October 2024 the new ASIC Derivative Transaction Rules (Reporting) 2024 (2024 Rules) will come into effect replacing the current ASIC Derivative Transaction Rules (Reporting) 2022 (2022 Rules). In this post we set out some of the major changes to the 2022 Rules and some of the issues market participants in this space should be aware of.
Read MoreBy: Pablo J. Man, TJ Bright, Kenneth Holston, and Tristen C. Rodgers
Earlier today, 5 June 2024, the US Fifth Circuit Court fully vacated the Private Fund Adviser Rules (PFAR) in a unanimous and highly anticipated decision curbing the Securities and Exchange Commission’s authority to regulate private funds. Absent a successful appeal of the decision, the PFAR will not come into effect.
Read MoreBy: Shane Geraghty, Michelle Lloyd, and Ruth Hennessy
The Central Bank of Ireland has announced this week that they will publish a feedback statement on their approach to macroprudential policy for investment funds, we expect in the coming months.
They issued a discussion paper on this topic late last year. The European Commission also released a targeted consultation on macroprudential policies for non-bank financial intermediaries on 22 May 2024.
The Central Bank’s announcement follows hot on the heels of its publication of a macroprudential policy framework for Irish-authorised GBP-denominated liability driven investment funds, as discussed here.
At the Central Bank’s recent Macroprudential Policy for Investment Funds Conference, the Governor of the Central Bank, Gabriel Makhlouf, indicated that a macroprudential framework for investment funds should not be a replication of the banking framework and should have:
Governor Makhlouf noted that the objective is to ensure that this growing segment of the financial sector becomes more resilient and less likely to amplify adverse shocks.
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