The following articled written by ACA's Michael Abbriano and Brett Ambrose appeared in the September 2018 National Society of Compliance Professional's Currents newsletter.
Dear Clients and Friends,
The FCA has recently published a Policy Statement and a Consultation Paper containing proposed remedies to the concerns first identified in its Asset Management Market Study (“AMMS”). These proposals apply to Authorised Fund Managers (“AFMs”)1 in respect of their management of authorised funds, such as UCITS. In this alert we summarise the FCA’s key measures and consider any longer term implications for the wholesale investment management sector.
On 25th May 2018, the General Data Protection Regulation (GDPR) comes into effect.
As the financial services industry is well aware, MiFID II went live at the start of this year. Financial firms and markets didn’t grind to a halt, as some had feared, but significant issues and uncertainties persist. The FCA has indicated that it is not inclined to pursue enforcement action (at least initially) against firms who made a genuine attempt to be ready for the new obligations.
The following written by ACA's Danielle Joseph and Anthony Frattone appeared in the April 19, 2018 edition of The Hedge Fund Law Report.
During the first quarter of 2018, U.S. regulatory agencies and a federal district court issued statements and took actions that are likely to significantly affect the U.S. regulatory landscape for digital assets, including cryptocurrencies, initial coin offerings, and digital asset trading platforms. This article is intended to serve as a summary of the recent key regulatory developments that apply to organizations operating in the U.S. digital asset space.
ACA Europe Digest provides clients with a brief overview of the major compliance developments facing investment managers, including issues we have reported on over the last few months, and a look ahead to what’s on the horizon. We appreciate understanding the relevant issues to your business from a regulatory compliance perspective can be a time-consuming exercise. However, ACA’s team continue to analyse regulatory developments and relevant legislation to assist you in staying current.
The following written by ACA's Danielle Joseph and Manny Halberstam appeared in the January 25, 2018 edition of The Hedge Fund Law Report.
On January 10, 2018, the staff of the U.S. Securities and Exchange Commission’s (“SEC”) Division of Investment Management released answers to 15 questions regarding its October 2016 liquidity risk management program rule. The SEC staff’s guidance, addressed here in part, focused on sub-advisers and In-Kind exchange-traded funds (“ETFs”) (as defined in the rule).
The following article appeared in the December 2017 of NSCP's Currents Newsletter. It was written by ACA's Michael Abbriano.
The following article appeared in the November 2017 issue of the National Society of Compliance Professionals' monthly newsletter Currents. It was written by ACA's Mark W. Lawler.
While the fourth quarter is often the busiest one for regulatory filings and fulfilling other compliance obligations, hedge fund managers should ensure that their compliance programs finish the year on a strong note and that key compliance processes are not neglected.
Dear Clients and Friends,
It is a common assumption that the EU’s PRIIP Regulation “the PRIIP Regulation” has no relevance to the alternative investment management sector because it applies solely to retail investors. In fact, PRIIP takes a much broader view of who is a retail investor, and is likely to capture employees, as well as friends and family of the investment manager. In this alert, we take a look at the requirements of the PRIIP Regulation and the implications for all managers who take on this new category of investor.
The following article was featured in the September 2017 edition of Financier Worldwide. It was written by ACA's Jami Jack and Ken Harman.
It is hardly surprising that European technology investment has grown tremendously over the past few years, given the fresh wave of innovative start-ups coming on the scene each month. As a consequence, Europe is now home to a host of mature yet fast-growing technology businesses, such as Auto1, blablacar, Klarna, iZettle and SumUp.
Cyber incidents can have devastating effects on business of all sizes. A breach or malware attack could cripple business operations, lead to financial losses, expose sensitive data, and cause reputational damage.
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