On 24 February 2024, Ukraine and the rest of the world marked the second anniversary of Russia’s invasion. Despite extensive media coverage of the war and its geopolitical and socio-economic ramifications on Europe and the rest of the world, there...
A recent major board reshuffle in one of Europe’s largest listed investment companies has focused attention on private investment valuations. It follows concerns raised by an ex-director over the robustness of the directors’ processes for approving investment valuations. The issues...
ACPR publishes report on automated AML/CFT transaction monitoring systems In 2022, the ACPR conducted a comprehensive thematic review, focussed on the automated systems utilised by the entities under its supervision. This entails entities implementing their obligations in terms of transaction...
The Eurofi financial forum is a setting for exchanges between European Union (EU) economic and financial regulators and senior financial sector executives from the industry. It occurs bi-annually alongside the Economic and Financial Affairs Council configuration (ECOFIN) meetings. This summary...
2022 AML-CFT Committee report available The MONEYVAL Committee, an entity of the Council of Europe which is tasked with addressing challenge of money laundering and terrorist financing (ML/FT), has recently published the AML-CFT report 2022. The findings of the report...
ESG-related regulatory requirements, and scrutiny, show no signs of abating. Asset managers have a pivotal role in financing the transition towards low-carbon economic systems. Hence, governments have introduced several ESG-related regulatory requirements that apply to asset managers. Some examples of...
On 16 December 2022, the AMF published additional information[1] on its website about the AMF exam, more commonly known as the "AMF certification" exam, since it certifies only the entities that organise the exam, rather than the people who pass...
The tax system applicable in the overseas public authorities includes a set of investment incentive schemes designed to promote their economic and social development. One factor to their successful implementation in practice is to provide as much visibility and sustainability...
The European Securities and Markets Authority (ESMA) published on 17 November, together with EBA and IOEPA, a Q&A on the RTS of the SFDR Delegated Regulation (Commission Delegated Regulation (EU) 2022/1288), just six weeks before coming into force. The Q&A...
The continued popularity of funds with an environmental, social and governance (ESG) focus has put global ESG assets on track to exceed $53tn by 2025, up from nearly $38tn at the end of 20201. As growth continues, expectations for effective...
A growing interest in environmental, social and governance (ESG) issues is driving record inflows into the ESG-led investment sector. During 2020, sustainable funds available to European investors attracted net inflows of €233bn1, which saw assets under management hit the $1.1tn...
A major step forward has been taken in implementing the European "investment firms" package in France*. The transposition of the package into local legislation, alongside EU Regulation 2019/2033 on prudential requirements for investment firms (IFR), came into full effect on...
By Bisnow, sponsored by Mazars New York City was both the most liquid hospitality market in the country[i], and global hotel investors’ destination of choice in 2015, according to JLL. That year, its transaction volume exceeded $6.6B, outpacing London by...
In this third article of our thought leadership programme around the transformation of Financial Services, we are focusing on how new business models are emerging. “THIS IS A WORLD OF SIX-MONTH PRODUCT DEVELOPMENT CYCLES AND CONSTANT UPDATES, PRIMARILY OF SOFTWARE,...
The term “ICO” is a common buzzword in investment circles these days. While these “Initial Coin Offerings” are distant cousins of IPOs (in the sense that both share the objective of helping firms raise capital from various sources), their likely...
The Asset Management industry is positioned to be the main focus of the Financial Conduct Authority (“FCA”). On 28 June 2017, the FCA published the final report of its Asset Management Market Study. This follows on from the interim report...
We look at the rise of ‘robostocks’ and algorithmic trading, and consider the repercussions on financial markets. An old investment adage mockingly states that “a failed trade becomes a long term investment”. The idea behind it is that if a...
The principle of tax transparency for investment funds will soon be replaced by taxation at fund level with partial exemption for investors. This will also apply to foreign funds with German income. The new rules have been integrated in the...
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers. Topic 606, Revenue from Contracts with Customers, presents the new revenue recognition guidance. FASB also issued ASU 2015-14, Revenue from...
In previous weeks, I have commented mostly on early signs and emerging risks in the banking sector, including some early warning shots in the property space in particular. But banks and funds invest in many other types of assets and...
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