This one minute guide, written in partnership with Lora Froud, partner, Andrew Henderson, partner, Louise Bralsford, solicitor, and Tiffany Cox, solicitor at Macfarlanes discusses the draft environmental social governance (ESG) measures to amend the Alternative Investment Fund Managers Directive (AIFMD), the Undertakings for Collective Investments in Transferable Securities (UCITS) Directive and the recast Markets in Financial Instruments Directive (MiFID II), including impact on the industry, Brexit implications, new concepts and next steps.
This note explores key areas of qualified investor schemes, which complement UCITS and NURS regimes. The note comments on investment powers, possible investors, redemption considerations and promotion as well as possible tax points to consider. This note provides an introduction, which could be followed by detailed consideration of the relevant provisions of the FCA Handbook, as referenced in this note.
This one minute guide, written in collaboration with Lora Froud, partner, and Tiffany Cox, solicitor, at Macfarlanes, discusses the scope, impact, new concepts and next steps of the EU Disclosure Regulation.
In the UK, an unregulated CIS (UCIS) is any collective investment scheme (CIS) that is not regulated by the Financial Conduct Authority (FCA) as either an authorised fund or a recognised scheme. Although UCIS themselves are not regulated, from a UK regulatory perspective certain UK legislation and FCA regulation, including provisions implementing EU directives, will still apply. This note details the applicable provisions.
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