Chinese Regulator Proposes Revisions To Rules Governing Fund Management Companies

The China Securities Regulatory Commission June 20, 2012, issued draft revisions to its rules governing fund management companies, proposing changes that would cut red tape and allow more flexibility in how funds manage their business.

ANALYSIS: India’s New Alternative Investment Funds Regulations

On August 1, 2011, the Securities and Exchange Board of India (“SEBI”) introduced the draft SEBI (Alternative Investment Funds) Regulations, 2011 (“Draft Regulations”), a comprehensive regulatory framework for regulating private pools of capital, i.e., alternative investment funds (“AIFs”). The Draft Regulations, which contained provisions proposing to drastically alter the mechanics for the Indian funds industry, came as a total surprise to the industry.

ANALYSIS: The U.S. Volcker Rule And Its Restrictions On Fund Activities: A Primer For Non-U.S. Financial Institutions And The Fund Managers That Market To Them

As has been well publicized, the Volcker Rule is expected to have a significant impact on the global financial markets, changing the way that they operate in important ways, including how securities are underwritten, markets are made and financial institutions generate revenue.

Swiss Government Seeks Approval Of New Collective Investment Rules

The Swiss government is seeking to implement early next year new rules on collective investment schemes aimed at bringing Swiss practices in line with European Union rules.

Luxembourg’s New Specialised Investment Funds Law Enters Into Effect

On March 6, 2012, the draft law amending the Luxembourg law of February 13, 2007, on specialised investment funds (“SIF Law”) was approved.

Ireland: Irish Plan To Establish SICAV As New Corporate Structure For Funds Advances

Ireland’s Minister for Finance has approved in principle the development of legislative proposals for a new corporate structure for the funds industry (“SICAV”). The proposals for the SICAV legislation are aimed at developing the funds industry in Ireland and promoting employment and business opportunities in the country.

Luxembourg’s Specialised Investment Funds Law Amended

On March 6, 2012, the draft law amending the Luxembourg law of February 13, 2007, on specialised investment funds (“SIF Law”) was approved.

ANALYSIS: The European Securities And Markets Authority’s Proposals For Regulation Of UCITS Exchange Traded Funds And Other UCITS Issues

On January 30, 2012, ESMA published a consultation paper setting out proposed future guidelines on UCITS exchange traded funds and other UCITS-related issues…

ANALYSIS: China Launches Renminbi Qualified Foreign Institutional Investor Scheme For Hong Kong Subsidiaries

Chinese authorities finally launches the long-awaited Renminbi Qualified Foreign Institutional Investor scheme on December 16, 2011…

ANALYSIS: The European Commission’s Legislative Proposals For Revising The Markets In Financial Instruments Directive

The European Commission on October 20, 2011, published two major legislative proposals to update and revise the 2004 Markets in Financial Instruments Directive and the 2003 Market Abuse Directive…

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