Tag:Institutional Investor

1
Europe: ESMA Publishes Long-Awaited Final Report on ELTIF 2.0 Regulatory Technical Standards
2
Central Bank of Ireland Opens ELTIFs Consultation
3
SEC Publishes Its 2024 Exam Priorities—Early
4
SEC Adopts Amendments to Beneficial Ownership Reporting
5
SEC Passes New Money Market Fund Rules: Swing Pricing is Out and Mandatory Liquidity Fees are In

Europe: ESMA Publishes Long-Awaited Final Report on ELTIF 2.0 Regulatory Technical Standards

By: Gayle Bowen and Shane Geraghty

On 19 December, the European Securities and Markets Authority (ESMA) published its final report setting out draft Regulatory Technical Standards under the amended European Long-Term Investment Funds Regulation.

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Central Bank of Ireland Opens ELTIFs Consultation

By: Gayle Bowen and Shane Geraghty

On 1 November 2023, the Central Bank of Ireland, published its European Long Term Investment Fund (ELTIF) consultation paper (the “CP”) which is now open for industry feedback for an expedited six week period until 13 December 2023. The CP relates to the proposed standalone ELTIF chapter set to be introduced into the Central Bank’s Alternative Investment Fund Rulebook, which will facilitate ELTIFs becoming a standalone regulated product in Ireland as discussed in our previous blog here.

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SEC Publishes Its 2024 Exam Priorities—Early

By: Jennifer Klass and Wiley Cole

On 16 October 2023, the Division of Examinations (the Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year. In an interesting twist, the SEC released the examination priorities early, changing the timing to correspond to the beginning of its new fiscal year.

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SEC Adopts Amendments to Beneficial Ownership Reporting

By: Jennifer Gonzalez, Trayne Wheeler, and Megan Clement

On 10 October 2023, the SEC adopted amendments to beneficial ownership reporting requirements under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934. The amendments shorten deadlines for Schedule 13D and 13G filers, clarify Schedule 13D disclosure requirements for derivatives, and require filers to use machine readable data language.

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SEC Passes New Money Market Fund Rules: Swing Pricing is Out and Mandatory Liquidity Fees are In

By: Max Black, Michael Davalla and Cal Gilmartin

On July 12, 2023 the SEC adopted rules applicable to money market funds (“MMFs”). The new rules change: (i) liquidity thresholds; (ii) liquidity fees and redemption gates; (iii) options for responding to negative interest rate environments; and (iv) reporting obligations. Importantly, the SEC declined to impose swing pricing mechanisms on MMFs depending on their net redemptions. The new rules institute mandatory liquidity fees for institutional prime funds and institutional tax exempt funds.

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