Extended to nearly 50,000 firms, UK regime aims to pinpoint responsibility, from money laundering to #MeToo
Final Esma framework allays some European asset managers’ concerns
Latest job changes across the industry
It is the acceptable face of shadow banking. But is too much money chasing too few opportunities in private credit?
Non-European firms may have to undertake compliance projects without knowing the final rules
Maintaining the status quo would avoid disrupting securities financing and collateral reuse
Clients face tougher reporting rules if dealers don’t become systematic internalisers
Banks seek clarity, but regulator wants maximum flexibility for its bail-in decisions
Decision on whether to copy US rules still in the balance, says Esma
Funds welcome aggregation tweaks but urge regulator to go further
But broad-based European tax unlikely to gain quick traction
Dutch pension fund to focus on controllability and intelligibility
Hedge funds oppose gross and commitment calculations
Fixed income returns more appropriate performance metric
Quotes of the quarter
EU Alternative Investment Fund Managers Directive requires greater formality over op risk
Eleven EU states have agreed to implement a harmonised financial transaction tax, due to begin in January 2014. The tax has a huge extraterritorial reach, posing serious questions about its impact on Asia
Responsible investing challenge
On the move
The European Council has finally reached agreement on its approach to the alternative investment fund managers (AIFM) directive, paving the way for an end to negotiations and a deal on non-EU managers.
UK regulator worried heavy handed rules will drive hedge funds out of Europe, depriving supervisors of information on their European activities
Daily news headlines
The Alternative Investment Management Association (AIMA) has named Andrew Baker as its new deputy chief executive.