asset management

The FCA’s proposed overhaul of the remuneration rules is relevant not only to regulated firms, but also to private capital investors buying, financing or selling them.

CP26/27 would replace the separate MIFIDPRU, AIFM and UCITS remuneration codes with a single regime. It would also remove much of the prescription around deferral, malus and clawback, guaranteed…

Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and international financial services regulation.

Key Developments in May 2026:

United Kingdom

General Financial Services – Cross Sector

27 May – Financial Promotions: The FCA has published a press release announcing the findings of its review of firms approving…

  • FinCEN has now adopted its previously‑proposed two‑year delay in the effective date for the investment adviser AML rule (including the requirements to establish AML programs and file SARs) until January 1, 2028.
  • FinCEN also reaffirmed its intent to use this period to further review and tailor the rule, and it
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Historically, investments in private funds have been reserved for large institutions, defined benefit pension plans, sovereign wealth funds and very wealthy individuals. In recent years, though, the notable difference in returns between private investments and those available in the public markets has increased pressure to expand access to private-market investments for “Main Street” investors. Partially…

The SEC’s recent settlement involving a “pay-to-play” rule violation by a private equity firm is a timely reminder for fund managers, especially with the November elections approaching. 

As a refresher, Rule 206(4)-5 of the Investment Advisers Act – known as the “pay to play” rule – prohibits investment advisers from receiving compensation for providing advisory…

On May 16, 2024, the U.S. Securities and Exchange Commission announced the adoption of amendments to Regulation S-P that were proposed last year. The Final Amendments impose enhanced requirements on registered investment advisers, investment companies, broker dealers and transfer agents with respect to handling of consumer financial information.

Read the full client alert here.