Tag:Europe

1
Europe: New Irish Fast-Track Filing Process for Fund Name Changes To Comply With ESG-Related Rules
2
Europe: BaFin Changes Its Process for Fund Passporting Into Germany
3
Europe: Central Bank of Ireland Changing Notification Procedure for UCITS and AIF Passporting Applications
4
Europe: FCA Amends Opening Date for Registration of New UCITS Schemes Under UK Overseas Fund Regime
5
Europe: Updated FCA Guidance on Registration for the UK Overseas Funds Regime
6
Europe: ESMA’s Call for Evidence on the UCITS Eligible Assets Directive Closes
7
Europe: European Commission Adopts Delegated Regulations for ELTIF 2.0 and Rejects Key Changes Proposed by ESMA
8
Europe: FCA Issues Final UK Overseas Funds Regime Rules
9
Europe: The Central Bank of Ireland Continues to Focus on Financial Stability
10
The Central Bank of Ireland Introduces Macroprudential Measures to Irish-Authorised GBP-Denominated Liability Driven Investment Funds

Europe: New Irish Fast-Track Filing Process for Fund Name Changes To Comply With ESG-Related Rules

By: Áine Ní Riain and Gayle Bowen

The Central Bank of Ireland (CBI) has announced a streamlined filing process for Irish UCITS and AIFs seeking to change their name to comply with the European Securities and Markets Authority’s guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines).

Read More

Europe: BaFin Changes Its Process for Fund Passporting Into Germany

By: Hilger Von Livonius, Emma O’Dwyer, Aoife Maguire, and Gayle Bowen

On 14 and 15 August 2024, the German Federal Financial Supervisory Authority (BaFin) updated the following guidance notices:

Guidance Notice on marketing of EU UCITS in Germany

Guidance Notice (2013) for marketing units or shares of EU AIFs or domestic special AIFs (Spezial-AIF) managed by an EU AIF management company to semi-professional and professional investors in the Federal Republic of Germany pursuant to section 323 of the Investment Code

Read More

Europe: Central Bank of Ireland Changing Notification Procedure for UCITS and AIF Passporting Applications

By: Gayle Bowen, Emma O’Dwyer, and Aoife Maguire

The Central Bank of Ireland (CBI) is changing the process for the submission of UCITS and AIF passport notifications and de-notifications.

Read More

Europe: FCA Amends Opening Date for Registration of New UCITS Schemes Under UK Overseas Fund Regime

By: Emma O’Dwyer, Aoife Maguire, and Gayle Bowen

The UK’s Financial Conduct Authority has put back the opening date for the application gateway for recognition of new UCITS schemes (i.e. those schemes not already registered under the Temporary Marketing Permissions Regime) under the OFR.

Read More

Europe: Updated FCA Guidance on Registration for the UK Overseas Funds Regime

By: Emma O’Dwyer, Aoife Maguire, and Hazel Doyle

On 12 August 2024, the UK’s Financial Conduct Authority released updated information on its website page on the Overseas Funds Regime (OFR). It provides details on how UCITS management companies (Operators) can register for FCA Connect – which is the first step for any Operator looking to register funds under the OFR. See our previous OFR-related blogs for more information on the OFR.

Read More

Europe: ESMA’s Call for Evidence on the UCITS Eligible Assets Directive Closes

By: Áine Ní Riain and Michelle Lloyd

The European Securities and Markets Authority (ESMA) has today closed its Call for Evidence (CfE) on the review of the UCITS Eligible Assets Directive (EAD).

Read More

Europe: European Commission Adopts Delegated Regulations for ELTIF 2.0 and Rejects Key Changes Proposed by ESMA

By: Gayle Bowen and Shane Geraghty

The European Commission (EC) has adopted the long awaited ELTIF 2.0 Delegated Regulation (RTS). Its version rejects a number of key proposals previously introduced by ESMA. In particular, the EC has returned to its original versions of Annex I and Annex II, with minor amendments.

Read More

Europe: FCA Issues Final UK Overseas Funds Regime Rules

By: Kai Zhang, Philip J. Morgan, Andrew J. Massey, and Hazel Doyle

The Financial Conduct Authority (FCA) has published its final rules for the UK’s Overseas Funds Regime (OFR) (see our prior blogs here and here which discuss eligibility and the expected OFR launch timetable).

Read More

Europe: The Central Bank of Ireland Continues to Focus on Financial Stability

By: 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:

  • A well-articulated set of objectives and principles; and
  • A framework tailored to the nature of the systemic risk from different fund cohorts – i.e. not a
    ‘one-size-fits-all approach’.

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.

The Central Bank of Ireland Introduces Macroprudential Measures to Irish-Authorised GBP-Denominated Liability Driven Investment Funds

By: Shane Geraghty, Michelle Lloyd, and Ruth Hennessy

The Central Bank of Ireland has introduced a macroprudential policy framework for Irish-authorised GBP-denominated liability driven investment funds (LDI Funds), to make them more resilient to shocks to UK interest rates.

Read More

Copyright © 2023, K&L Gates LLP. All Rights Reserved.