Travers Smith's Alternative Insights: Private wealth and private capital
A regular briefing for the alternative asset management industry.
Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.
A regular briefing for the alternative asset management industry.
The European Council has issued its general approach (General Approach) on the European Commission's proposals to amend the existing Alternative Investment Fund Managers Directive (AIFMD II).
On 4 April 2022, the UK Treasury published its response to the consultation and call for evidence on the UK regulatory approach to, amongst others, stablecoins.
Last month, the UK Government set out its legislative programme for this Parliament in the Queen's Speech. In this briefing, we look at some of the proposals relevant to business which have had less media attention.
A regular briefing for the alternative asset management industry.
On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing (the Supervisory Briefing) addressed to EU national competent authorities (regulators) to promote "common supervisory practices" on the EU Sustainable Finance Disclosure Regulation (SFDR) and other pieces of EU legislation concerning financial sustainability. This was closely followed on 2 June 2022 by a publication of the European Supervisory Authorities – one of which is ESMA - (ESAs) which sets out clarifications (the ESA Clarifications) on the draft regulatory technical standards (RTS) under SFDR.
On 7 June 2022, HM Treasury issued its Response (Response) to its consultation in July 2021 on a Senior Managers & Certification Regime (SMCR) for financial market infrastructures (FMIs).
On 25 May 2022, the European Commission (Commission) issued its response to the European Supervisory Authorities' (ESAs) questions on the interpretation of the Sustainable Finance Disclosure Regulation (SFDR) and the Taxonomy Regulation (Taxonomy Regulation) of 13 May 2022.
A regular briefing for the alternative asset management industry.
The European Parliament has issued its draft report (Report) on the European Commission's proposals to amend the existing Alternative Investment Fund Managers Directive (AIFMD II). The Report forms part of the legislative process and includes the European Parliament's suggested amendments to the draft directive issued by the European Commission in November 2021. The draft directive proposed a number of changes to the Alternative Investment Fund Managers Directive, largely in respect of delegation, loan origination, liquidity risk management, data reporting and depositaries and it is those areas which are the main focus of the Report.
On 13 May 2022, the European Supervisory Authorities (ESAs) submitted a number of questions to the European Commission relating to the interpretation of the Sustainable Finance Disclosure Regulation (SFDR) and the Taxonomy Regulation (Taxonomy Regulation). Separately, the ESAs have also been asked by the European Commission for their input on possible amendments to the SFDR Delegated Regulation.
A regular briefing for the alternative asset management industry.
A regular briefing for the alternative asset management industry.
The Financial Conduct Authority ("FCA") has released its Annual Business Plan for 2022/2023, alongside a Strategy Document for 2022 to 2025. We discuss below what these two documents mean for its investigations and enforcement strategy going forward.
Travers Smith LLP has advised Melior Equity Partners ("Melior") as lead counsel on the final close of Melior Equity Partners Fund II with €160m of total commitments, making it one of the largest private equity funds in Ireland.
A regular briefing for the alternative asset management industry.
Travers Smith LLP has advised Equistone Partners Europe Limited ("Equistone") and other selling shareholders on the sale of FirstPort, a leading UK residential property services company.
On 6 April 2022, the European Commission published the long-awaited final version of the detailed rules – the Regulatory Technical Standards (RTS) – under the EU Sustainable Finance Disclosure Regulation (SFDR).
Travers Smith LLP is advising UK wealth manager Brewin Dolphin Holdings plc ("Brewin Dolphin") on its recommended £1.6bn takeover by RCB Wealth Management ("RBC"), an indirect subsidiary of Royal Bank of Canada.
A regular briefing for the alternative asset management industry.