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  • Conveyors with cardboard boxes on white background. 3d illustration
    October 05, 2021
    • Investor Services
    Amid new rules for cross-border funds in Europe, BBH’s Killian Lonergan sets out the gamechangers for distribution and how fund managers are partnering with external providers in their distribution efforts
  • Image of a business woman thinking with blue abstract graphics around her face
    August 23, 2021
    • Investor Services
    SPACs have existed in the United States since the early 2000s, but they have enjoyed a resurgence in popularity recently, and in spite of a slight cooling of SPAC launches they remain one of the most discussed trends across the market. Here we take a whistle-stop tour through the various aspects of the rise of the SPAC.
  • Poyabbrücke im Bau, Freiburg, Schweiz
    August 09, 2021
    • Investor Services
    In a recent speech, SEC Chairmen Gensler returned to a corner of the market he knows extremely well, speaking at length about security-based swaps (SBS) reform.
  • 3d Wooden Puzzle Cube
    August 02, 2021
    • Investor Services
    The EU’s Sustainable Finance Disclosure Regulation (SFDR) is unquestionably one of the most complex implementation projects asset managers operating in Europe have ever been tasked with.
  • Paris cityscape; Eiffel Tower
    June 29, 2021
    • Investor Services
    ESMA's recently released Annual Report covers several areas of focus for regulators in the next few years to come. Here, we break down the top 10 things to know about the future of ESMA.
  • Pencil macro: To mark with a cross.
    • Investor Services
    In this article, we explain how managers based in Greater China can look to optimize their foreign exchange process and oversight.
  • Highway at night
    June 10, 2021
    • Investor Services
    With the implementation of CSDR underway, this document provides updates on the key questions and details which are under discussion in the industry.
  • video zoom of Adrian Whelan and Lata Vyas
    June 08, 2021
    Adrian Whelan sits down with Lata Vyas to discuss the latest development in the ELTIF and how it is finding ways to make private markets available to a broader market.
  • Humanoid robots dressed as businessmen
    June 02, 2021
    • Investor Services
    Regulators are reviewing how gamification and other tech led sales techniques sit within their Regulation Best Interest framework after the recent Robinhood/GameStop events. Here, we discuss their considerations.
  • Dog reading a newspaper
    May 24, 2021
    • Investor Services
    There is some good news and some bad news regarding the Packaged Retail Investment and Insurance Products (PRIIPs) regulation. Here, we explain the updates and the five pain points that remain.
  • A man and a woman doing pullups on the same bar in a gym
    May 10, 2021
    • Investor Services
    The global COVID-19 pandemic has brought the topic of operational resilience to the top of the agenda for regulators worldwide. Here, we sum up some of the common areas of focus among the open operational resilience regulatory assessments and how they are influencing policymakers' actions going forward.
  • acronym word cloud on light blue background
    May 04, 2021
    • Investor Services
    Environmental, Social, and Governance (ESG) is one of the hottest topics in asset management, and just the start of many acronyms thrown around regularly. Here we discuss the latest ESG acronym: Corporate Sustainability Reporting Directive, or CSRD.
  • Group of participants in an obstacle course climbing a pyramid obstacle
    April 29, 2021
    • Investor Services
    The ability to easily “passport” funds across E.U. borders is a great attraction for asset managers. Here, we discuss the regulations of European Passporting and some of the obstacles that are no longer in the way.
  • set of various plates of food isolated on white background, top view
    April 19, 2021
    • Investor Services
    We explain some of the top issues likely to ensure Mr. Gensler doesn’t get a whole lot of a “honeymoon period” when he takes his seat at the head of the SEC table. One thing is for certain, he starts his tenure with a full plate.
  • Pile of colorful sticky notes with hand drawn question marks. It is a seamless background which was created with adhesive note papers.
    April 16, 2021
    • Investor Services
    In the final part of our three part series on fund liquidity, we focus on the recently published report from European Securities and Markets Authority (ESMA) on its study of UCITS liquidity risk management.
  • Question mark shape cut out in a white post-it-note on a blue gradient background
    April 14, 2021
    • Investor Services
    In Part Two of our three part series on fund liquidity, we focus specifically on European Money Market Funds.
  • Yellow post-it-note pinned to a board with 'What if?' written on it
    April 12, 2021
    • Investor Services
    In Part One of a three part series on fund liquidity, we discuss the important “what if” questions regulators are posing currently.
  • Two men shake hands in front of British flag and European flag
    April 06, 2021
    • Investor Services
    Despite certain points of tension across the asset management industry in the lead up to Brexit, overall things have been pretty calm in the wake of the “divorce”. Here, we discuss the latest Memorandum of Understanding and what it could mean for the industry.
  • Signpost in the mountains pointing way to mount everest b.c., Khumbu glacier and prayer flags, Everest area, Nepal
    March 29, 2021
    • Investor Services
    The first phase of the E.U.’s Sustainable Finance Disclosure Regulation (SFDR) focused on adherence to the E.U.’s ESG agenda, representing the industry’s arrival at basecamp. We outline the three remaining challenges as the focus now turns to the detailed SFDR RTS and Taxonomy alignment.
  • Vinyl records with colorful labels on colorful background.
    March 01, 2021
    • Investor Services
    Established in 1985, the UCITS fund structure is two years older than Rick Astley’s hit “Never Gonna Give You Up.” Ever since, investors in Europe and beyond have never given up on UCITS. We explain with a selection of the "greatest hits" from UCITS funds.
  • Woman running on platform to catch a train
    March 01, 2021
    • Investor Services
    The recent spate of consolidation in fund platforms in Europe is raising an important question for many asset managers: are they working with the right platform or have they spread themselves too thin?
  • wooden bridge going over water through the trees
    February 22, 2021
    • Investor Services
    Regulators must choose to boldly embrace the new, or cautiously cling to existing ways when it comes to direct retail access to mutual funds.
  • Silhouette of a cowboy on a horse with a lasso in front of a blue and orange sunset
    February 14, 2021
    Money market funds are an area under ongoing intense scrutiny ever since the 2008 global financial crisis. Delve into the SEC’s Ten Recommendations for U.S. Money Market Funds.
  • video chat with Adrian Whelan and Julia Vergauwen
    February 08, 2021
    • Investor Services
    The Sustainable Finance Disclosures Regulation (SFDR) is the important first, big step in a longer E.U. ESG journey to enshrine sustainability across the entire E.U. asset management sector. Lingering questions remain about many of the disclosure requirements and fund classification process as the March 10th deadline nears.
  • Frosty winter morning. Bright winter sun shine on hoarfrost on grass through alone tree. Panoramic view on winter sunrise.
    February 01, 2021
    • Investor Services
    Relationships between E.U. policymakers have become a little frosty as some important regulatory deadlines draw near.
  • Biden Administration: Regulatory Areas to Watch (Part 2)
    January 27, 2021
    • Investor Services
    In Part 2 of our OnTheRegs Biden Administration blog, we will expand on specific areas of rulemaking we will likely see at the SEC and how U.S. Asset Managers will be impacted.
  • The American flag in front of the White House in Washington, DC.
    January 25, 2021
    • Investor Services
    January 20, 2021, President Biden was inaugurated as the 46th President of the United States. We look at some of the factors in the new administration that are likely to affect asset management regulation.
  • A large school of identical orange goldfish, and one black one.
    January 18, 2021
    • Investor Services
    We highlight the differences and similarities between U.S. and E.U. Regulators.
  • A person’s sneaker on the finish line of 2020 and starting line of 2021 marked on the track.
    January 11, 2021
    • Investor Services
    We highlight what to expect this quarter and recap Q4’s key regulatory developments.
  • Sunset over the water with clouds and ocean
    January 07, 2021
    • Investor Services
    Many industry commentators have marked ELTIF off as an EU policy failure. Recently, there has been several new ELTIF launches by major market players triggering lively industry debate about the future of ELTIFs, which may be more promising than before.
  • Adrian Whelan
    December 22, 2020
    • Investor Services
    Global asset management continued to evolve and stay resilient this year, despite the COVID-19 pandemic. Here, we’ll look at some of the biggest shifts we have seen in 2020.
  • Red pushpin on a map.
    December 21, 2020
    We delve into two of the key frequently asked questions from the “Dear Chair” CP86 letter that were raised across the industry.
  • Macau bridge, the longest bridge of Asia
    December 14, 2020
    • Investor Services
    In June 2020, authorities in China, Hong Kong, and Macau announced the launch of the Greater Bay Area Wealth Management Connect with the intent to facilitate cross-border investments for residents within the Greater Bay Area.
  • A person standing on a peak of a mountain and the sky and clouds above
    December 07, 2020
    • Investor Services
    Recently, ESMA published its final report on guidelines on performance fees in UCITS and Retail Alternative Investment Funds. Read the guidelines here.
  •  a green inch worm on a leaf
    November 30, 2020
    • Investor Services
    We continue to track the progress of the Irish Investment Limited Partnership Bill (ILP Bill) through its voyage, this week it took a couple of significant and most welcome policy steps towards its conclusion.
  • Five people's hands giving a thumbs up.
    November 22, 2020
    • Investor Services
    There remains both skeptics and widespread debate on how to achieve environmental goals as well as the pace of change as competing priorities remain. However, in the cacophony of 2020, it appears that in the sphere of asset management at least everyone broadly agrees that sustainability will remain a key driver for the foreseeable future.
  • Stormy sky over a field with a sunny sky off in the distance.
    November 16, 2020
    • Investor Services
    NAV oversight, validation, and contingency plans for unexpected disruptive events had been a high priority of regulators long before the onset of the global pandemic. Now, the increasing new expectations from regulators is adding a layer of personal liability to those who help oversee NAV Production.
  • Two chess pieces one with UK flag and one with EU flag facing eachother on a chess board.
    November 09, 2020
    • Investor Services
    As we approach the conclusion of the Brexit transition period, several key regulatory areas remain uncertain. The Financial Conduct Authority (FCA) recently moved to make decisions which aim to fill in some of the remaining gaps on the Brexit regulatory puzzle.
  • A paintbrush on a piece of wood that is incomplete but painted half blue.
    October 19, 2020
    • Investor Services
    Brexit is certainly rising in minds of asset managers, regulators, and investors as we reach the impending conclusion of the transition period on 11.00 p.m. (GMT) on December, 31. Despite having certain contingencies and accommodations already in place, several uncertainties remain as the UK and EU continue to wrangle over a deal to govern their future relationship.
  • Hourglass timer with sand
    October 05, 2020
    • Investor Services
    We highlight what to expect this quarter and recap Q3’s key regulatory developments.
  • Sun shining through the woods
    October 02, 2020
    • Investor Services
  • Forest of evergreen trees.
    September 17, 2020
    • Investor Services
    While investors look to the sustainability of their investment portfolios, asset managers must also look to the sustainability of their own business model and product offerings and ask themselves whether they are building walls or building windmills as the winds of change rise.
  • Wooden cube block shape with sign question mark symbol on wood table
    September 14, 2020
    • Investor Services
    With Brexit firmly back in the news headlines, it is worth revisiting this thorny subject and focus on the impact on asset managers and their respective products.
  • A person’s hands with gloves on examining a slide under a microscope lens.
    September 07, 2020
    • Investor Services
    Access to market data is more central to the asset management business than ever before. Now, the costs that managers must pay to obtain this information is being brought to focus.
  • Video image of Adrian Whelan and Daniel Lawlor
    August 06, 2020
    • Investor Services
    Adrian Whelan, Senior Vice President of Regulatory Intelligence at BBH, speaks with Danny Lawlor from Aquest about the Central Bank of Ireland’s (CBI) Delegate Oversight Consultation Paper (CP86) and the CBI’s CEO mock letter that has recently made waves in the industry.
  • Video image of Adrian Whelan, Vanessa Battaglia and Jonathan Gilmour
    July 15, 2020
    • Investor Services
    BBH’s Adrian Whelan speaks with Vanessa Battaglia and Jonathan Gilmour from Travers Smith about all things regulatory reporting, deadlines, and foreign exchange and derivatives contracts.
  • Planet Mars of brown moon with rocket going toward it with words europe's mission to mars eu esg regulation
    July 07, 2020
    • Global Regulatory Team
  • close up of calendar on the table with push pins
    July 06, 2020
    • Global Regulatory Team
  • Rules and regulation wooden stampon white background
    June 15, 2020
    • Global Regulatory Team
    • Investor Services
  • winding road at night
    June 01, 2020
    • Investor Services
    The implementation of the Settlement Discipline Regime of CSDR is scheduled for February 2021. Globally, firms continue to progress toward operational readiness. Brown Brothers Harriman (BBH) is committed to helping our clients successfully prepare.
  • blue and red design
    April 29, 2020
    • Julie Hubbard
    • Investor Services
    In this Staying Connected video, we explore the operational implications of cancelled dividends.
  • Circuit board futuristic code processing on yellow, blue and purple background
    • Investor Services
    TALF, a market intervention program from the 2008 financial crisis to keep loans flowing to businesses, has been revived by the Fed. Time is of the essence and getting in early is key.
  • Rain coming down on a blue umbrella
    March 30, 2020
    • Global Regulatory Team
  • Blue communication lines surrounding the top of Earth against a black background
    March 24, 2020
    • Investor Services
    Listen to BBH’s Adrian Whelan, Head of Regulatory Intelligence, and Orla Foley, Head of Relationship Management Europe, discuss the regulatory response to the COVID-19.
  • marble columns at Supreme court Washington DC
    March 20, 2020
    • Investor Services
    Global regulators continue to react to the various undulations of the markets caused by the ongoing COVID-19 emergency. That’s a bit of an understatement – the response so far has been nothing short of frenzied.
  • Downtown Georgetown overlooking Caribbean sea
    March 11, 2020
    • Global Regulatory Team
    2020 Global ETF Investor Survey Key Findings: ETFs Continue to Chart a New Path.
  • Global world telecommunication network with nodes connected around earth
    March 10, 2020
    • Investor Services
    What the recently revised beneficial ownership rules of Russia, South Korea, Poland, and Austria mean for investors.
  • Downtown Georgetown overlooking Caribbean sea
    March 04, 2020
    • Investor Services
    New legislation, which expands on one existing law and introduces another, aims to solidify the Cayman Islands as a leading domicile for global investment funds by aligning its investment fund regulatory regime with other jurisdictions.
  • Abstract design of an eye in blue and purple hues
    January 16, 2020
    • Global Regulatory Team
    • Investor Services
    Your resource for the latest thinking on key regulatory developments in the coming year.
  • The diaphragm of a camera lens aperture. Selective focus with shallow depth of field
    January 16, 2020
    • Investor Services
    A sweeping new set of rules aimed at improving communication between European companies and their shareholders takes effect in 2020. When it does, asset managers can expect a heavy administrative lift.
  • Close-up of eyesight measuring device focused on DN and EE
    January 16, 2020
    • Investor Services
    With the impending retirement of LIBOR, one thing is certain: current users must get comfortable with alternative benchmarks.
  • Beijing CBD skyline sunset, night
    January 16, 2020
    • Investor Services
    Greater access to China could be a once in a lifetime opportunity for asset managers – there is no other place in the world where trillions of dollars of new capital are up for grabs.
  • Abstract blue eye against a black background
    January 16, 2020
    • Investor Services
    Beginning in 2020, cross-border settlement failures will come with a new set of potentially costly penalties thanks to the new settlement discipline rules.
  • abstract eye projected 3 colorful balls on a textured background
    January 15, 2020
    • Investor Services
    Gareth Murphy, Chief Risk Officer, and Christine Brentani, Regulatory Developments and Relationship Manager at Standard Life Aberdeen, highlight the key issues and trends shaping the global regulatory landscape in 2020.
  • Colorful eye with pixels coming out
    January 15, 2020
    • Investor Services
    Regulators in the US, Europe, and Asia are paving the way for new types of ETFs, which could keep the ETF boom alive for years to come.
  • Measuring device in the shape of a pair of eye glasses
    January 15, 2020
    • Investor Services
    Global asset managers have become accustomed to navigating the perilous shoals of cross-border regulation, but new regulatory developments in the EU in 2020 may make some unexpected waves.
  • Big antenna disk and person looking through telescope at starry night sky
    January 15, 2020
    • Investor Services
    The UK has introduced some of the strictest standards of conduct for senior asset management staff, setting a new bar across the globe.
  • Pair of eye glasses held up to skyscrapers
    January 15, 2020
    • Investor Services
    As regulators and the financial services industry continue to combat money laundering and terrorist financing, AMLD 4, 5, and 6 are all in play in 2020.
  • A collage of images featuring bridges, ocean, splitting wood, wind turbines
    January 06, 2020
    • Global Regulatory Team
  • Red and green line graph points on a forest scene
    December 17, 2019
    • Investor Services
    A recent decision by one of the world's largest pension funds to pause their securities lending program has provoked questions about whether the two disciplines can co-exist in an ESG context. How can firms strike the right balance?
  • Exchange Thoughts - New Wave of Active ETFs Shield the Secret Sauce, BBH's ETF Newletter
    December 11, 2019
    • Investor Services
    Following the US Securities and Exchange Commission’s (SEC) approval of Precidian’s ActiveShares model in May, four proxy-based, semi-transparent ETF structures were given notice of approval by the SEC. The new ETF structures could herald a new era of active ETFs.
  • "Turn to Clear Vision" Binoculars Overlooking City
    November 05, 2019
    • Investor Services
    We explore how short-term and long-term objectives coexist and impact the global asset management industry.
  • Thin glass buildings lining car filled highways at sunset
    October 25, 2019
    • Investor Services
    With less than a year to go before the September 2020 deadline for Shareholder Rights Directive II (SRD II) implementation, industry participants such as intermediaries, asset managers, brokers, and financial institutions are asking “How do I prepare?”

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