In a letter dated 18 August 2020 to the European Commission, ESMA sets out its recommendations for changes that could be made to the Alternative Investment Fund Managers Directive (AIFMD) framework as part of the Commission’s review of the AIFMD. ESMA recommends changes in 19 areas including harmonising the AIFMD and UCITS regimes; delegation and substance; liquidity management tools; leverage; the AIFMD reporting regime and data use; and the harmonisation of supervision of cross-border entities. Many of ESMA’s recommendations would also require consideration of changes to the UCITS regulatory framework.
The FCA has reopened the notifications window for its temporary permissions regime (TPR). EEA firms and fund managers wishing to use the TPR should notify the FCA by the end of 30 December 2020.
The coronavirus pandemic has created a series of unprecedented challenges for fund sponsors and general partners (collectively, GPs) of closed-ended private funds in relation to the capital raising and operation of their funds.
US regulators propose easing market restrictions for small US banks.
At the Impact’17 Conference, Radzym Wojcik moderated a panel discussion about VC investments (including FinTech) with a very strong line-up.