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John Verwey

John Verwey is a partner in the Private Funds Group. John advises on a wide number of regulatory issues at a national UK and European level, including firm authorisations, appointed representative arrangements, change in control, market abuse. He represents a variety of clients that range from small start-up fund managers to established global fund advisers and managers.

A particular area of focus for John is Alternative Investment Fund Managers Directive (AIFMD) and Markets in Financial Instruments Directive II (MiFID II).  This includes advising on pre-marketing and marketing strategies for fund managers, advising on the Level One and Lever Two requirements under AIFMD and implementing UK rules and legislation, and advising on the organizational and conduct of business requirements under MiFID II.

On 31 May, 2024, a new anti‑greenwashing rule is being introduced by the Financial Conduct Authority (the “FCA”) as part of its Sustainability Disclosure Requirements (“SDR”). However, the FCA has only recently published their finalised anti‑greenwashing guidance, leaving firms with around a month’s time to review and implement the final guidance to ensure compliance.

The

On 22 April 2024, the European Securities and Markets Authority (“ESMA”) provided its response to the European Commission’s request on amendments to the draft regulatory technical standards (“RTS”) in respect of Regulation EU/2023/606 relating to the European long-term investment fund (“ELTIF 2.0”).

In the response, ESMA suggested that there

The Financial Conduct Authority (the “FCA”) on 23 April 2024 has published its Consultation Paper CP24/8 (the “CP”) on the extension of its Sustainability Disclosure Requirements (“SDR”) to portfolio managers. This follows the publication of their SDR requirements for asset managers, which we reported on here in November 2023.

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.

Key developments in March 2024:

28 March

FCA Regulation Round-up: The FCA published its regulation round-up for March 2024.

26 March  

AIFMD II: Directive (EU) 2024/927 amending the Alternative Investment Fund Managers Directive

On 26 March 2024, the legislative package amending the Alternative Investment Fund Managers Directive 2011/61/EU (“the “AIFMD”) and (to a certain extent) the UCITS Directive was published in the Official Journal of the European Union (“Official Journal”), with an adoption date of 15 April 2024 (the “Adoption Date”). Having

On 6 March 2024, the European Commission published a letter to the European Securities and Markets Authority (“ESMA”), in which it proposed certain amendments to the draft regulatory technical standards (“Draft RTS”) that ESMA had previously published in relation to Regulation (EU) 2023/606 (the “ELTIF 2 Regulation”).

Please see

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.

Key developments in February 2024:

29 February

FCA Regulation Round‑up: The UK Financial Conduct Authority (“FCA”) published its regulation round‑up for February 2024.

LIBOR: The FCA published a report containing the outcome of

Background

On 20 February 2024, the United Kingdom’s Financial Conduct Authority (“FCA”) published guidance (the “Guidance”) on the implementation of the Consumer Duty.

The Consumer Duty came into force for “open” products and services (i.e. new and existing products or services that are open to sale or renewal) on 31 July

As set out in our Proskauer Special Report  “Primarily Non-financial corporate reporting for U.S. companies – where to start?”, it may be complex to determine the applicability of the EU’s Corporate Sustainability Reporting Directive (“CSRD”).  The following provides a more in-depth analysis regarding the applicability of CSRD.  Non-EU companies, including those