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We are very proud to be the Contributing Editor of the recently published International Comparative Legal Guide on Derivatives 2021.

We are delighted to this year be the Contributing Editor of the recently published International Comparative Legal Guide on Derivatives 2021.

Originally published 12 March 2021

On 26 July 2021 the Financial Conduct Authority (FCA) published PS21/9: Implementation of Investment Firms Prudential Regime.

Updated on 22 November 2021

A regular briefing for the alternative asset management industry. 

The FCA has set out an ambitious vision for transformation in its Business Plan for 2021/22, the first under Nikhil Rathi's leadership since he was appointed CEO in October 2020.

With 92 UK REITs already in existence and more anticipated, following extensive industry discussions, the government is keen to ensure that the rules facilitate use of the regime and make it more attractive by removing certain constraints and administrative burdens.

On 22 February 2021, the UK Government published its original "Roadmap out of Lockdown" for England, which was initially due to see a "cautious but irreversible" lifting of all legal limits on social contact by 21 June (if certain strict conditions were met) (the "Roadmap"). Following a delay in the introduction of Step 4, from 19 July the majority of remaining COVID-19 restrictions in England have been lifted, including no longer instructing people to work from home wherever possible. Step 4 has, however, coincided with an increase in the prevalence of the COVID-19 'Delta' variant across the UK, leading to increasing numbers of infections and cases of individuals being required to self-isolate.

Last week, the EU unveiled its 'Fit for 55' proposals, which if adopted would substantively revise the EU's climate and energy policies in order to enable a net greenhouse gas emissions reduction by at least 55% by 2030, compared to 1990 levels.

HM Treasury has issued a consultation paper proposing the creation of a Senior Managers & Certification Regime (SMCR) for financial market infrastructures (FMIs).

Hot on the heels of HM Treasury's consultation on the prospectus regime, on 5 July the FCA published a consultation on the effectiveness of the primary markets. The consultation firstly looks at ways of improving the efficiency of the listing regime and secondly proposes targeted changes to remove barriers to listing.  The FCA seeks to address, and build upon, the proposals of the Kalifa Review of UK FinTech  and Lord Hill's UK Listing Review.

Read the latest on Asset holding companies.

Welcome to the first in our series of podcasts focusing on international employment law. 

We recently held our third webinar in the series "Sustainability and alternative asset managers: the new normal".

In the third of a series of articles looking at how Brexit is working out for the UK, we consider the geographic impact and how that might affect future decisions by businesses to invest in the UK.

Two climate change related cases made global headlines in recent weeks: a Dutch case, brought by a group of activists, against Royal Dutch Shell that imposed carbon emission limits on the oil producing multinational and an Australian case that found the Minister for the Environment had a duty to protect young people from the effects of climate change. In this article, we look at these decisions in their wider legal context, and consider how the law may continue to develop in this area, including in the UK.

Key employment and business immigration developments for employers.

As a result of the Covid-19 pandemic, asset managers have found that many members of their workforce (of varying degrees of seniority) have been working for an extended period from abroad, rather than in the UK office. Post-Covid, some of these individuals have expressed a wish to spend all of their time, or a proportion of their time, working from abroad.

In recent weeks, rumours have started to circulate that President Biden's administration is set to depart from the US government's current approach to the use of sanctions. While the administration's review of US sanctions policy remains ongoing, details of a new softer approach, which is expected to be formally outlined when the review is published at the end of the summer, were described by a number of current and former administration officials in a series of high-level meetings held in the US Congress.