The following Financial Services guidance note provides comprehensive and up to date legal information covering:
This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes EU and international developments, the Financial Conduct Authority (FCA) asset management market study, the Competition and Markets Authority (CMA) market investigation into investment consultancy and fiduciary management services, the FCA’s investment management authorisation hub and the UK government’s UK Investment Management Strategy II. Also included are updates on LexisNexis®’s content, including news of exciting developments from the past year and what is coming up in the next 12 months.
The new EU regulatory landscape for asset managers continued to take shape as final rules and guidance were adopted clarifying how the recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II), the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR) and the Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation (Regulation (EU) 1286/2014) will apply across the EU and be implemented in the UK from January 2018.
EU Member States were required to transpose the provisions of MiFID II into national law by 3 July 2017, while MiFIR will have direct effect in Member States without transposition. MiFID II and MiFIR are being implemented in the UK through amendments to legislation
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