39 posts categorized "Investment Management"

A watershed year for regulation?

Posted by Financial Services UK on 15/12/2014 at 5:05 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy, Insurance, Investment Management Permalink Comments (0)

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2015 has the potential to be a turning point in terms of the post-crisis re-regulatory agenda, when the focus shifts from repairing balance sheets and reputations to the role of financial services in promoting jobs and growth.  And indeed from proposing new rules to implementing the multitude that has been agreed over that last few years. Deloitte’s EMEA Centre for Regulatory Strategy have identified what we believe to be the ten key areas of regulatory focus for financial markets in 2015.

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Loss-absorbing capacity for banks: EBA consults on EU requirements – ‘MREL’

Posted by Financial Services UK on 3/12/2014 at 11:17 AM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy, Investment Management Permalink Comments (0)

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Following the recent publication of the Financial Stability Board’s (FSB)  proposals for an international standard for Total Loss-Absorbing Capacity (TLAC), the European Banking Authority (EBA) has published a consultation on a version for the EU – the Minimum Requirement for Own Funds and Eligible Liabilities (MREL).  MREL, like TLAC, is intended to make banks – credit institutions and large investment firms – more resilient and ensure they have enough loss-absorbing capacity so that resolution tools, including the bail-in tool, can be applied effectively.

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Global information exchange | What’s that coming over the hill?

Posted by Financial Services UK on 25/11/2014 at 12:48 PM in Banking, Capital Markets, Investment Management Permalink Comments (0)

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The landscape for global information exchange is changing rapidly. In the next three years the burden of information reporting for funds will expand exponentially driven by new global tax initiatives. As a result, reporting on investor information and financial data will be mandatory for many funds as early as March 2015. This is not just a one off exercise and it represents a new form of annual compliance that is here to stay.

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Seismic shifts in investment management | A Channel Islands' perspective

Posted by Financial Services UK on 12/08/2014 at 4:57 PM in Investment Management Permalink Comments (0)

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Deloitte's recent report ‘Seismic shifts in investment management’ explores the drivers behind fundamental changes in the industry and weighs up what they mean in practice for UK-based global asset managers. In this blog post, Alex Adam, a Director in the Deloitte Guernsey office, considers the impact for the Channel Islands of this research. 

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Individual Accountability in UK Banking | Details of Senior Management and Certification Regimes Emerge

Posted by Financial Services UK on 31/07/2014 at 5:20 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy, Investment Management Permalink Comments (0)

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The PRA and FCA have published a major consultation paper on the overhaul of the Approved Persons Regime (APR) for banks, building societies, credit unions, and PRA-designated investment firms in the UK. The new framework will make senior individuals more explicitly accountable for specific issues through ‘statements of responsibility’, and a wider range of staff will be subject to a regime of certification and codes of conduct.

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PS 14/09 “Review of the Client Assets Regime for Investment Business”

Posted by Financial Services UK on 19/06/2014 at 11:10 AM in Investment Management Permalink Comments (0)

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PS 14/09 “Review of the Client Assets Regime for Investment Business” (the ‘PS’), the FCA’s response to CP 13/5 (the ‘CP’), was published on 10 June and amends large elements of the client money and custody asset (CASS) rules.  It excludes most elements of the CP relating to the return of client assets following a ‘pooling event’ which are expected to be the subject of further consultation following the current review of the Special Administration Regime.

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London Office Crane Survey: Gearing up for the next phase of construction

Posted by Financial Services UK on 18/06/2014 at 12:39 PM in Banking, Capital Markets, Insurance, Investment Management Permalink Comments (0)

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We have recently launched the summer instalment of the Deloitte Real Estate London Office Crane Survey. This is our flagship report (released bi-annually) which has been monitoring office construction activity in Central London for almost twenty years. The level of construction is widely used as a measure of economic activity - counting the number of cranes / construction sites across Central London is a relatively easy and accurate way to benchmark London’s economic health.

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Countdown to MiFID II go-live date begins

Posted by Financial Services UK on 13/06/2014 at 3:36 PM in Capital Markets, EMEA Centre for Regulatory Strategy, Investment Management Permalink Comments (0)

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The revised Markets in Financial Instruments Directive (MiFID II) and new Regulation (MiFIR) were published yesterday in the Official Journal and will enter into force on 2 July. This is an important milestone as it officially starts the countdown to the 2017 go-live date, establishing the various deadlines that firms, member states, national competent authorities (NCAs) and the European Securities and Markets Authority (ESMA) will need to meet.

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Government consults on the investment strategy of Local Government Pension Schemes

Posted by Financial Services UK on 2/05/2014 at 5:43 PM in Investment Management Permalink Comments (0)

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In this article, Deloitte’s Gavin Bullock looks at the implications for investment managers of the Government’s consultation on the structure of Local Government Pension Schemes.

On 1 May the Government released a consultation in respect of the structure of Local Government Pension Schemes (LGPS) and opportunities to reduce administration and investment management costs. The proposals set out a number of recommendations, which could have a major impact on the asset management industry given the £178bn of assets currently under management by the LGPS. At this stage, the consultation envisages annual savings of £660m.

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ESAs outline details on EMIR margin requirements for non-cleared OTC derivatives

Posted by Financial Services UK on 17/04/2014 at 4:16 PM in Capital Markets, EMEA Centre for Regulatory Strategy, Investment Management Permalink Comments (0)

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Earlier this week, the European Supervisory Authorities (ESAs) published the much anticipated consultation paper and draft regulatory technical standards (RTS) setting out of risk-mitigation techniques for OTC derivative contracts not cleared by a CCP under Article 11 of the European Market Infrastructure Regulation (EMIR). 

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