In recent months, the EU’s Markets in Financial Instruments Directive (MiFID 2), the US Department of Labor’s Fiduciary Rule, and Brexit have dominated the headlines and minds of global asset managers. As 2018 approaches, there’s another significant regulatory shift on the horizon that should not be forgotten.
ESMA’s recently published Brexit relocation opinions may foreshadow the focus areas of the upcoming UCITS and AIFMD reviews in 2018.
Looking ahead to the key FinReg issues asset managers will face in the second half of 2017—and beyond.
Could ESMA’s ground rules for UK firms relocating to the EU unintentionally disrupt the UCITS ecosystem?
Garrett Berkery warns that asset managers should not underestimate the coordination required to comply with the new reporting requirements for securities financing transactions.