Investment Management Update — 4 July 2014: FCA Handbook Notice 13; ESMA updates Q&As on AIFMD; and more
FCA Handbook Notice 13 — implications for AIFMS
The Financial Conduct Authority (FCA) has published Handbook Notice 13, which among other things gives feedback and makes new rules in response to CP14/4, which proposed changes that will affect alternative investment fund managers (AIFMs).
In particular, the Alternative Investment Fund Managers Directive (AIFMD) and Undertakings for Collective Investment in Transferable Securities Directive (Miscellaneous Amendments) Instrument 2014 comes into force on 21 December 2014 for amendments relating to the AIFMD and on 1 July 2014 for the remainder of the instrument. In summary, it makes various minor amendments to the FCA Handbook to bring it in line with the AIFMD and Directive 2013/14/EU, which is part of the EU legislative package for regulating credit-rating agencies requiring new risk management processes for AIFMs (and UCITS managers) that prohibit mechanistic reliance on credit ratings.
The feedback is set out in Chapter 3 of the Handbook Notice and covers the following…
Click on the link below to read the rest of the Macfarlanes briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Briefings from Macfarlanes
M&A Weekly Update: forced sale of shares does not qualify as ‘an offer to the public’ requiring publication of prospectus; and more
Macfarlanes has released its M&A Weekly Update for the period 27 June to 3 July 2014.
M&A Weekly Update: public register of individuals with significant control over companies — details available; and more
The Small Business, Enterprise and Employment Bill has now been published. The bill covers a number of company law changes.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
Footie and telecoms dominate our regular round-up of recent M&A activity, as the threat of rising interest rates kick-started activity among organisations.