Legal briefing | Asset Management, Tax for Asset Managers, Alternative Asset Management, Tax, Funds, Pensions |

Changes coming down the track for alternative asset managers

Changes coming down the track for alternative asset managers

Overview

To help you keep on top of legal developments relevant to alternative asset managers, we have created a checklist that pulls the key ones together. Our checklist highlights each development, providing a brief description and setting out the next steps. We hope that you find it useful.

Please click on the sections below for measures relating to:

Reform to the UK funds landscape

Although the UK is currently an attractive jurisdiction for asset manager and fund domicile, European competitor jurisdictions have been improving their offerings. This, combined with the effects of Brexit (including, many global asset managers establishing or building up EU branches and the UK having the freedom to depart from EU law) has led the government to undertake a wide-ranging review of the UK funds landscape from both a regulatory and tax perspective, to identify options which will make the UK a more attractive location to set up, manage and administer funds, and which will support a wider range of more efficient investments better suited to investors’ needs.

 

Sustainability

European and global asset managers face a wave of new sustainable finance regulation. Some rules are already in force and others will be effective over the next few years. The challenge of implementing these rules is significant, and investor demand is likely to encourage firms to go further than legally required. 

More information on these rules and other sustainability developments can be found on our Sustainable Business Hub.

 

Regulatory reviews and developments

See above for sustainability specific measures.

A number of regulatory changes with relevance to alternative asset managers are anticipated over the course of the next few years both at UK and EU level. Therefore, alternative asset managers will need to be prepared to make changes to their businesses where necessary. These include general changes to the regulatory regime which will have an impact on asset managers and also specific changes targeted at asset managers. Some of the most significant proposed changes are set out below.

 

 

Investor-side issues

Developments relating to investors will also impact on alternative asset management arrangements. An aspect of this will be the additional processes that asset managers will need to put in place to meet demands made by investors seeking to comply with new legal obligations.

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