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

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.

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.

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.

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.

In this article, we explain how managers based in Greater China can look to optimize their foreign exchange process and oversight.

With the implementation of CSDR underway, this document provides updates on the key questions and details which are under discussion in the industry.

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.

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.

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.

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.

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.

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.

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.

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.

In Part Two of our three part series on fund liquidity, we focus specifically on European Money Market Funds.

In Part One of a three part series on fund liquidity, we discuss the important “what if” questions regulators are posing currently.

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.

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.

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.

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?

Regulators must choose to boldly embrace the new, or cautiously cling to existing ways when it comes to direct retail access to mutual funds.

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.

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.

Relationships between E.U. policymakers have become a little frosty as some important regulatory deadlines draw near.

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.

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.

We highlight the differences and similarities between U.S. and E.U. Regulators.

We highlight what to expect this quarter and recap Q4’s key regulatory developments.

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.

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.

We delve into two of the key frequently asked questions from the “Dear Chair” CP86 letter that were raised across the industry.

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.

Recently, ESMA published its final report on guidelines on performance fees in UCITS and Retail Alternative Investment Funds. Read the guidelines here.

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.

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.

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.

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.

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.

We highlight what to expect this quarter and recap Q3’s key regulatory developments.

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.

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.

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.

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.

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.

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.

In this Staying Connected video, we explore the operational implications of cancelled dividends.

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.

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.

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.

2020 Global ETF Investor Survey Key Findings: ETFs Continue to Chart a New Path.

What the recently revised beneficial ownership rules of Russia, South Korea, Poland, and Austria mean for investors.

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.

Your resource for the latest thinking on key regulatory developments in the coming year.

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.

With the impending retirement of LIBOR, one thing is certain: current users must get comfortable with alternative benchmarks.

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.

Beginning in 2020, cross-border settlement failures will come with a new set of potentially costly penalties thanks to the new settlement discipline rules.

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.

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.

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.

The UK has introduced some of the strictest standards of conduct for senior asset management staff, setting a new bar across the globe.

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 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?

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.

We explore how short-term and long-term objectives coexist and impact the global asset management industry.

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?”