Investments

The European Insurance and Occupational Pensions Authority has published an Opinion on Supervisory Response to a Prolonged Low Interest Rate Environment...

The Investment Management Association publishes its monthly investment fund statistics for January 2013...

The International Organization of Securities Commissions published the final report on Principles of Liquidity Risk Management for Collective Investment Schemes, which contains a set of principles against which both the industry and regulators can assess the quality of regulation and industry practices concerning liquidity risk management for collective investment schemes...

The ESMA and the EBA have published a warning to retail investors about the dangers of investing in contracts for difference...

Topics in this issue:

Myanmar’s New Law on Foreign Investment

The Role of the NLFI vis-a-vis other Myanmar Laws

Establishment and Procedures for Obtaining an Investment Permit

Investment Applications to the FIC

Permitted Scope of Activities and Foreign Ownership Limits

Capital Requirements

Land

Employment and Localization Requirements

Taxation

M&A

Ancillary Developments

Summary and Outlook

Ear to the Ground: Intellectual Property Update

Commenting on news that several EU member states are concerned over the European Commission's high-handed approach to passing financial regulation, Ronald Paterson, partner at global law firm Eversheds, says: "The saga of the AIFM Directive (Directive 2011/61/EC) has shown up serious deficiencies in the EU legislative process in relation to complex and important regulatory projects..."

The FSCS will shortly be contacting individuals who have brought claims against Rockingham Independent Limited in relation to ARM investments...

An important driver for the Report was the changing landscape of pension provision in Europe. Governments, employers and IORPs are increasingly shifting risks and the responsibility for individual financial planning towards members of pension schemes particularly via defined contribution schemes...

The IMA announced the outcome of its Absolute Return Sector review. The objective of the review has been to help users of the sector data, including advisers and consumers, by clarifying the nature of Absolute Return funds and making it easier for investors to access information...

The European Securities and Markets Authority published on 11 February 2013 its final guidelines on sound remuneration for alternative investment fund managers under the Alternative Investment Fund Managers Directive (Directive 2011/61/EC)...

Morgan Stanley & Co International plc is part of Morgan Stanley, a multi-national financial services firm. Morgan Stanley & Co International plc has agreed to change terms in the contract for its investment plan called the Morgan Stanley FTSE Gilt Backed Growth Plan 9, and other investment plans with similar contract terms...

The European Securities and Markets Authority has published its final remuneration guidelines under the Alternative Investment Fund Managers Directive (Directive 2011/61/EC)...

The purpose of this report is to provide IOSCO members and the public with an overview of the different approaches that supervisory authorities take to educate retail investors on issues relevant to investments in financial products that are distributed by intermediaries...

Topics in this issue:

Financial Industry Developments
CFPB Implementation Plan for Mortgage Rules
FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks
CFPB Bulletin on Servicers' Obligations During Loan Transfers
Rating Agency Developments

RMBS Litigation
California Attorney General Brings Action Against Standard and Poor's
District of Massachusetts Denies in Part JP Morgan's Motion to Dismiss RMBS Investor Suit

European Financial Industry Developments
AIFMD: ESMA Final Guidelines on Sound Remuneration Policies
Short Selling Regulation: ESMA Call for Evidence
FSA Fines UBS £9.45 Million for Failings in AIG Fund Sales

Events
Orrick's Annual Financial Services Roundtable

The European Securities and Markets Authority recently published final guidelines on remuneration under the Alternative Investment Fund Managers Directive (Directive 2011/61/EC)...

Governor Zhou Xiaochuan met Governor Mervyn King during Governor King’s visit to Beijing. They agreed to facilitate discussions on the establishment of a reciprocal 3-year, renminbi/sterling currency swap arrangement...

Recently, the draft of an act to amend the Investment Tax Act with respect to the implementation of the AIFM Directive (Directive 2011/61/EC) has been adopted by the German cabinet...

Greater flexibility for managing investments for permanently endowed charities achieved by the Trusts (Capital and Income) Bill...

IMA response to HMT’s consultation - The Government’s review of the balance of competences between the United Kingdom and the European Union: call for evidence on taxation...

EFAMA is the representative association for the European investment management industry. EFAMA represents through its 26 member associations and 59 corporate members approximately EUR 14 trillion in assets under management of which EUR 7.9 trillion was managed by approximately 54,000 funds at the end of March 2012...

Topics in this issue:

ESMA guidelines on UCITS

ESRB proposals for money market funds

BCBC/IOSCO margin requirements for non-centrally cleared derivatives published

FSB letter on progress of financial regulatory reforms

ESMA report on EU securities markets

IMA welcomes the opportunity to comment on the discussion and proposals made in ESMA’s consultation on Principles for Financial Benchmarks...

Topics in this issue:

Private Funds

Listed Funds

Regulatory

Tax

International Developments

General Updates

The EFAMA has published its latest Investment Fund Industry Fact Sheet which provides investment sales and asset data for December 2012...