With a recent article in the Financial Times (paywall), the debate around the management of the Woodford Equity Income Fund has broadened out to include the actions of the Authorised Corporate Director (ACD), a role very few outside the industry know anything about, but one that is very important nonetheless.
The FCA published Policy Statement PS19/4 in February with further remedies for UK Authorised Fund Managers (AFMs) as a follow-up to its Asset Management Market Study (AMMS).
PRIIPs – Live date 1 January 2018
On 6 June, the European Securities and Markets Authority (ESMA) published its MiFID II and MiFIR Q&As, covering a wide range of topics on the subject of investor protection.
FE have released a white paper today (15 May) which highlights the challenges facing adviser firms in meeting client reporting requirements under the Markets in Financial Instruments Directive, (MiFID II) - which is to come into effect in January 2018.
At least one prediction has been right today, as the European Commission’s Vice President Valdis Dombrovskis confirmed it has recommended a delay of 12 months to December 2017 for PRIIPs KIDs at its meeting on 9 November. This means that PRIIPs will go live at the same time as MiFID II, which was itself delayed by a year.
On 14 September the European Parliament, as expected, followed the lead of its Economic and Monetary Affairs Committee (Econ) by voting 602 to 4 to reject the Level 2 rules as set out in the Regulatory Technical Standards (RTS) proposed by the Commission.