Regulation and Compliance - Articles & White Papers
Reports and white papers on investment regulation and compliance issues. Amongst the research in this investment compliance and regulation section are white papers on AIFMD (Alternative Investment Fund Managers Directive) and Solvency II - particularly the practical implications for fund managers and insurers. Reports discussing the impact of regulation on fund management... companies, and the operational challenges this presents, have been particularly well received, whilst regulatory primers (for instance providing an overview of who regulates whom and how) have also been well read. Other surveys and articles cover financial regulatory policy, hedge funds regulation, investment regulation, risk management, IFRS financial statements, GIPS performance reporting and the future of investment compliance for asset owners.
Welcome to Insurance Edge, our quarterly newsletter delivering our latest thought leadership insights for insurance investors. In this issue we discuss IFRS 9, measuring book yield correctly and much more.
Fixed income markets have undergone significant structural change since the 2008 financial crisis. These seismic shifts are forcing investors to adapt to a new market paradigm that will challenge not only how they trade fixed income, but also what types of products they use to build bond portfolios and manage risk.
The existence of dual-class shares (DCS) has generated much debate for over a century. Sometimes known as shares with weighted voting rights or unequal voting rights, DCS structures provide owners of certain share classes with superior voting rights, giving them voting control over a company that is disproportionate to their…
In this document the FCA and the Pensions Regulator set out their joint regulatory strategy for the pensions and retirement income sector, following on from their call for input: ‘Regulating the pensions and retirement income sector: Our strategic approach’. They have also published a summary of the feedback from…
The Cryptoassets Taskforce report lays out the UK’s policy and regulatory approach to cryptoassets and distributed ledger technology in financial services. It provides an overview of cryptoassets and DLT, assesses the associated risks and potential benefits, and sets out the path forward with respect to regulation in the UK…
This paper offers a framework that allows for the estimation of relative research values across markets and constituents, under certain stylized (but reasonable) assumptions. We estimate value by adjusting dispersion, the difference in performance between winners and losers, for capacity, the potential size of active…
To bring more clarity to the question of how FinTech will affect the prospects of financial institutions and careers of other stakeholders, CFA Institute has compiled the report FinTech 2018: The Asia Pacific Edition.
FinTech 2018: The Asia Pacific Edition is composed of three sections. The first covers the various…
This paper was authored in response to increasing concerns raised by their members that the UK may withdraw from the EU without concluding a withdrawal agreement under Article 50 of the Treaty on European Union and without any transition (or implementation) period to allow market participants time to adjust. It sets out…
Cyber security risk is real and pervasive, as demonstrated by recent attacks that have put the frighteners on big banks, web service providers, the NHS and even the U.S. intelligence community. From an investor’s perspective, the business case to engage with companies on this topic is clear-cut. This report by Principles for…
This 23-page paper by CFA Institute takes a detailed look at the consumption of structured data. It addresses which data are available and how data are being consumed, and refutes the claim by some that data are not being used. The potential for structured data and how this potential can be realized are also addressed.
Initial coin offerings (ICOs) are a hot topic among legislators, regulators, and financial market professionals. This report discusses the principles that the Securities and Exchange Commission (SEC) and courts use to determine whether a transaction qualifies as an offering of “securities” under the Securities Act and the…
This report does not address whether virtual currency represents a sound investment decision. Rather, it aims to provide information on virtual asset trading platforms to customers who have used, or are considering using, those platforms to transact in virtual currency.
This 18-page report by Aon Hewitt examines the state and outlook of the global reinsurance market. It focuses on the role of alternative capital within the market, demand, disaster losses, recent regulatory changes, and more.
Investors looking for returns in fintech should focus on the A-G of developments, Robeco’s trends experts say in a new white paper, ‘Fintech 2.0: From trends to insights’. This updates a previous work on how financial technology is revolutionizing how we conduct banking, consumer payments and financial services.
This report has been authored by Hong Kong Exchanges and Clearing Limited. It focuses on blockchain and AI applications in the securities industry and explores how these new technologies could be integrated in the areas of investment, trading, clearing and settlement, as well as regulation, with a view to find specific…
On 15 October 2018 we published a discussion paper on climate change and green finance. The FCA must consider all major risks that have an impact on the markets and institutions we regulate, including those posed by climate change. In this document we explain how climate change-related matters are relevant to our statutory…
Smart contracts could help revolutionize the derivatives market by creating much-needed efficiencies that would benefit the entire industry. But transforming smart contracts from an exciting concept to practical use will present a number of challenges.
From a legal perspective, a number of issues need to be considered…
This report summarises the findings from the 2018 quantitative survey among defined benefit (DB) schemes, carried out between 1 and 27 March 2018. The survey was conducted by IFF Research, an independent market research agency, on behalf of The Pensions Regulator (TPR). Additional qualitative interviews were undertaken with…
This paper aims to prompt readers to further engage with stock exchanges and securities regulators on how to create more resilient financial markets that contribute to the broader objectives of society, as suggested in the preamble to the PRI’s Six Principles. The case studies featured in the paper are not intended to be…
