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.
PGIM's latest Megatrends paper, “The Future Means Business: Investment Implications of Transformative New Corporate Models,” draws on the insights of more than two dozen PGIM investment professionals across our private and public fixed income, equity, real estate and alternatives managers – as well as a new proprietary…
The Fourth Industrial Revolution is disrupting almost every industry in every country and creating massive change at unprecedented speed. Financial services have not been immune to the wave of digitalisation sweeping across most elements of our lives, with the banking and investment management communities looking to…
This 42-page report provides a detailed look into the U.S. asset management industry. It focuses on a variety of issues, including: (i) regulation; (ii) public and private investment funds; (iii) the industry's risk exposures; (iv) current industry trends and policy issues, and more.
Regulatory frameworks in most of the jurisdictions tend to focus (via risk-based controls and prudential standards) on the governance of pension funds, including risk management systems, but still do not explicitly refer to Environmental, Social and Governance (ESG) factors. This document contains a set of guidelines on the…
Over the past two decades, sustainability reporting frameworks have proliferated around the world, aiming to improve company transparency and comparability on environmental, social and governance (ESG) practices relevant to investors and, to a varying extent, other stakeholders. This report focuses on four of the most…
The end of LIBOR presents a unique set of challenges. With uncertainty around the new rate and when liquidity will shift, we convened industry experts to discuss this major change.
This report examines (in impressive detail) the asset management industry around the world. At 25 chapters, it covers select jurisdictions including Austrlia, Germany, Ireland, Italy, Lebanon, Norway, Saudi Arabia, Singapore, Switzerland, the UAE, the UK, the US, and more.
This report examines (in impressive detail) mergers and acquisitions around the world. At 47 chapters, it covers select jurisdictions including Austria, Brazil, Canada, Cayman Islands, China, Greece, Hong Kong, India, Netherlands, Nigeria, Russia, the UAE, the UK, the US, and more.
This report examines (in impressive detail) real estate M&A and private equity around the world. At 26 chapters, it covers select jurisdictions including Argentina, Australia, Brazil, France, India, Japan, Luxembourg, Russia, Singapore, Sweden, Switzerland, the UK, the US, and more.
Since the global financial crisis, US banks have paid more than USD 160 billion in fines for non-compliance. Regulatory pressure is increasing, and so are the costs for being compliant. What is the best way forward for financials? This is where regtech comes in.
EDHEC-Risk Institute conducted its 12th survey of European investment professionals about the usage and perceptions of ETFs, smart beta and factor investing, as part of the Amundi research chair at EDHEC-Risk Institute on “ETF, Indexing and Smart Beta Investment Strategies”. The aim of this study is to analyse current…
A few high-profile fund suspensions have recently driven the focus back to market liquidity and how this can affect the ability of funds to meet certain redemption scenarios. Despite ample liquidity at the macro level, some areas of strain remain at the micro level and could worsen in case of a material deterioration of…
In most of the world, the majority of trading costs are charged in basis points (hundredths of a percent), which means variable costs are the same for a $1 million trade in any stock. However, the U.S. has stuck to “cents per share” and mils (cents per hundred shares). With the rapid changes in stock prices, that’s creating…
Sustainability and environmental, social, and governance (ESG) factors have fast risen towards the top of the board agenda — corporates are increasingly aware that a failure to address these matters can be detrimental to their businesses, both financially and reputationally. In this briefing, the authors examine some…
This report sets out how companies can make their reporting more effective and comprehensive by providing a set of questions that they should ask to help develop their reporting. These questions are framed around the four TCFD core elements.
These FAQs address the possible UK position post-Brexit, i.e. after the conclusion of the exit process under Article 50 of the Lisbon Treaty. The exit negotiations, and the position in respect of cross-border financial services, are still evolving and will depend upon the final relationship negotiated between the UK and the…
This is the fifth annual report on the implementation and effects of the G20 financial regulatory reforms. The report, which was delivered to the G20 meeting in October, sets out that implementation of the reforms called for by the G20 after the global financial crisis is progressing.
Risks in the markets under ESMA's remit remained at high levels, reflecting very high risk in securities markets and elevated risks for asset management, infrastructures and services. ESMA's assessment of the individual risk categories did not change from 1Q19, with market risk remaining very high due to asset…
Using a novel dataset that comprehensively classifies the quantitative financial disclosures in firms' 10-Ks, including those hidden in the footnotes and the MD&A, we show that disclosures of non-operating and less persistent income-statement items are both frequent and economically significant, and increasingly so…
