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The EU has issued a proposed regulation on digital operational resilience which may have practical implications for certain financial market infrastructure providers, including central securities depositories, central counterparties and trading venues.
It has been just over a week since Chancellor Rishi Sunak made a statement to Parliament setting out the Government's approach to financial services following the UK's imminent departure from the EU on 31 December; a statement that has since sparked much debate, intrigue and (cautious) excitement in the fintech, market infrastructure and payments space.
This briefing was updated on 6 January 2021 to reflect the provisions of the UK-EU trade deal.
Now that the Brexit transition period has ended and a UK-EU trade deal has been agreed, businesses need to be prepared for significant changes. The guidance on this site explains what the key changes are and what businesses need to do in order to adapt.
The UK government and regulators have jointly announced their approach to implementing the recommendations of the Taskforce on Climate-related Financial Disclosures within the next five years. Notable by its absence is any explicit mention of the EU Sustainable Finance Disclosure Regulation which comes into force in March 2021.
Travers Smith LLP has advised Brooks Macdonald, a leading investment manager with £13.7 billion in funds under management, on its long-term strategic partnership with SS&C Technologies, a global provider of software and technology services to the financial services industry.
Travers Smith LLP has advised long-standing client Elysian Capital LLP on the fundraising of its third vintage fund Elysian Capital III LP.
The European Commission has adopted a number of limited measures designed to reduce some of the burdens which firms face under MiFID II and in relation to securitisations.
On Friday 29 May, Travers Smith's client, Pay.UK (which operates the UK's retail payment systems such as Bacs and Faster Payments) launched the Request to Pay (RtP) legal framework. Its launch is a significant milestone for Pay.UK as it seeks to deliver on its promise to promote innovation in the UK's dynamic and fast-moving payments market.
Travers Smith LLP has advised its long-standing client EQT AB (EQT), a differentiated global investment organisation, on the sale of its Credit business segment to Bridgepoint, a major international private equity group.
Potential liquidity concerns are dominating private equity managers’ contingency planning for their portfolio investments. Flexible funding solutions provided on a fund-wide basis have emerged as a means for managers to tap additional capital as needed in order to finance working capital or additional equity for their investee companies.
In the context of continued LP scrutiny of all performance indices and management fee levels, GPs/managers continue to seek to differentiate themselves in terms of yield and broader ‘value add’ for investors. Increasingly they are looking to a range of sophisticated fund management and liquidity tools in order to maximise returns and distinguish their offering.
This inaugural edition of Investment Insights for Pension Funds is devoted to the current economic crisis caused by COVID-19. Experts from across the firm share their insights on how companies are being affected, the actions they are taking, and the implications for investors.
The Financial Conduct Authority (FCA) has set out its expectations of solo-regulated firms under the Senior Managers and Certification Regime (SMCR) in light of the coronavirus (COVID-19) pandemic.
Over the last 4 weeks, in the face of COVID-19 the worldwide economy has experienced the sorts of pressures not seen since the Great Depression. Businesses around the world have been forced to close their doors; we have seen government interventions which, only 3 months ago, would have been unthinkable; and terms such as "social distancing" and "furloughing" have become common parlance.
Brexit has significantly changed the regulatory landscape for financial services firms and, consequently, the way many firms will operate going forward.
After a tumultuous 2019, it's a new year, a new decade and a new UK Government pledged to "get Brexit done". The UK Parliamentary paralysis that characterised so much of the UK's approach to Brexit last year is over.
The FCA has outlined some key risks of harm in the asset management and alternative investments sector and the steps that firms should take to address these risks.
Travers Smith LLP has announced the promotion of two lawyers to Senior Counsel.
The Fifth Money Laundering Directive comes into force on 10 January 2020. Firms will need to be ready.
With Brexit dominating the summer news agenda, this briefing is a summary of tax developments that have arisen over the last couple of months relevant to the asset management industry. Please get in touch if you would like further information (our contact details are at the end of this briefing).