We highlight what to expect this quarter and recap Q3 2018’s key regulatory developments.
FinReg’s Q4 Game Changers:
- The Brexit countdown clock continues to tick. The EU “first agreement” emergency summit is planned for November aiming to solidify agreement on a post-Brexit relationship.
- Also, in November, US midterm elections could have major implications on President Trump’s deregulation agenda as all 435 seats in the House of Representatives and about 1/3 of the Senate seats are up for election.
- The Insurance Distribution Directive (IDD) takes effect in the EU today. It raises the bar for investor disclosures (costs and charges, bundled services and remuneration) and conduct of business requirements for anyone selling or marketing insurance products across the EU.
What We Learned from Q3:
- The Brexit process saw another delay in late August, when a planned October summit was pushed back a month. More delays only increase the likelihood of a no-deal Brexit.
- In September, the Central Bank of Ireland announced revised policy decisions for ETFs that will likely increase efficiency and product innovation in the rapidly growing ETF market.
- As of July 30, asset managers in Hong Kong can now establish investment funds in corporate form as Open-ended Fund Companies (OFCs), in addition to the already available unit trust regime.
Top On The Regs Posts of Q3:
- What A No-Deal Brexit Would Mean for Asset Managers | Read more
- Our Man in China, Part 2: (Almost) Meeting Mr. Alibaba | Read more
- The People of Brexit – Part 1| Read more
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