Tag:UK

1
Europe: New Funds May Apply for UK Overseas Fund Regime Recognition from September 2024
2
Europe: At Last, the UK and EU are Due to Begin Active Post-Brexit Cooperation on Financial Services Matters
3
Europe: UK Regulation of Cryptoassets – Another Glimpse but Still None the Wiser

Europe: New Funds May Apply for UK Overseas Fund Regime Recognition from September 2024

By: Áine Ní Riain, Aoife Maguire, Gayle Bowen, and Philip Morgan

The Financial Conduct Authority (FCA) has released updated information and, together with HM Treasury, a “roadmap,” on the UK’s Overseas Funds Regime (OFR). It intends to accept applications from new funds (i.e. those not in the Temporary Marketing Permissions Regime (TMPR)) from September 2024. This is a welcome development for managers of new EEA UCITS that are not currently able to access the UK retail market.

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Europe: At Last, the UK and EU are Due to Begin Active Post-Brexit Cooperation on Financial Services Matters

By Robert Lloyd and Philip Morgan

On 27 June 2023, the UK and the EU Commission entered into a memorandum of understanding (MoU) on regulatory cooperation in financial services triggered, it seems, by the agreement of revised arrangements on Northern Ireland.  You could be forgiven for thinking that the MoU was agreed a long time ago – accordingly to a nonbinding joint declaration between the EU and the UK, the targeted date was 31 March 2021.  At the end of the Brexit transition period on 31 December 2020 few people would have expected that it would take the best part of two and a half years to reach this modest objective. 

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Europe: UK Regulation of Cryptoassets – Another Glimpse but Still None the Wiser

By Kai Zhang and Philip Morgan

On 1 February, the UK Government published another consultation paper on the proposed regulation of business relating to cryptoassets in the UK. This is to seek views (by 30 April 2023) on the overall approach and policy direction, and includes a call for evidence to gather more pertinent information on decentralised finance. As such, the consultation does not contain details on any specific proposed rules.  For example, the proposed cryptoasset-related regulated activities described in the consultation paper are stated to be illustrative of the sorts of activities the Government intends to regulate, rather than specific proposals. For further information on this consultation please see our fintech blog here.

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