Insights

Global regulatory update Q1 2024

Stay up-to-date with the latest regulatory developments from across the globe.

Changes to the PRIIPs KID regulation: What you need to know and do

On January 1 2025, the Packaged Retail and Insurance-based Investment Products (“PRIIPs”) regulation will undergo a significant change concerning one of its key transparency components: transaction costs disclosures.

Update to EMT Reporting

On April 22 2024, FinDataEx, a European body focused on establishing technical templates for the exchange of data between product manufacturers, distributors, and other stakeholders under EU legislation, issued version 4.2 of its European MiFID Template (“EMT”). Version 4.2 introduces seven new fields which focus on transparency on transaction costs and ESG.

Singapore regulatory update 2024

The Monetary Authority of Singapore (“MAS”) has issued a response to feedback on the Repeal of Regulatory Regime for Registered Fund Management Companies (“RFMCs”). The repeal aims to streamline regulations for all Singapore fund managers.

Bermuda regulatory update Q1 2024

FinCEN and AML updates: More requirements for fund managers on the horizon?

On February 13 2024, the U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a notice of proposed rulemaking focusing on stricter Anti-Money Laundering/Combating the Financing of Terrorism (“AML/CFT”) requirements for certain previously exempted RIAs. If enacted, the revised rule would bring significant changes to the investment adviser industry

The Digital Operational Resilience Act (“DORA”) - Developments

On December 8 2023, the three European Supervisory authorities (“ESAs”) - European Banking Authority (“EBA”), the European Insurance and Occupational Pensions Authority (“EIOPA”) and the European Securities and Markets Authority (ESMA”) - launched the second consultation on the second batch of Digital Operational Resilience Act (“DORA”) policy products.

The Economic Crime and Corporate Transparency Act (ECCTA ) - March 2024

Cayman regulatory update Q1 2024

An overview of California's climate disclosure requirements

ESMA seeks clarity on crypto-asset regulation: reverse solicitation and classification of crypto-asset as financial instruments

The Markets in Crypto-Assets (“MiCA”) Regulation is nearing its implementation, and the European Securities and Markets Authority (“ESMA”) released two crucial consultation papers on January 29th. The first one focuses on reverse solicitation and the other on the classification of crypto assets as financial instruments in light of the Markets in Financial Instruments Directive II (“MiFID II”). This article provides an overview of the insights they offer.

EU Council and Parliament strike a deal on stricter AML rules

On January 18 2024, the European Council and European Parliament reached an agreement on the final details surrounding stricter anti-money laundering (“AML”) rules in the EU, further to its AML package.