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.
Understanding Millennials is crucial for asset managers, advisers and distributors alike. This 18-page paper by HSBC Global Asset Management takes a closer look at this demographic and explores who they are, what they want, and what the implications for the investment industry might be.
In the months leading up to the introduction of MiFID II in January 2018, industry professionals observed a general trend toward firms opting to pay for research (charged against the firm’s profit and loss) as opposed to charging clients. This observation was corroborated by a data collected from a survey conducted by CFA…
This 300-page book could have been entitled, "everything you ever wanted to know about investment", such is the breadth of topics covered. The author, Paolo Vanini gives readers a thorough grounding in the main players in institutional investment, and how the industry operates. A wide variety of the building blocks of the…
This report presents the results of the Financial Stability Board's eighth annual monitoring exercise. It covers data up to end-2017 from 29 jurisdictions, which together represent over 80% of global GDP. As in previous years, the report compares the size and trends of financial sectors in aggregate and across…
This policy statement sets out our final rules and guidance to address some of the findings of the asset management market study, focused on fund objectives and the presentation of benchmarks. This second set of remedies is part of a package of measures which we have introduced to address weaknesses identified by our asset…
This is the first edition of Deloitte's Performance Magazine in 2019. The tri-annual global publication covers a series of hot topics of interest to Investment Management professionals.
High profile cyberattacks - often involving serious breaches of sensitive corporate and client data - have become commonplace in daily news reports around the world. This paper focuses on third-party risk, or the vulnerability that occurs when one company hires another company to provide a service. This is also called supply…
S&P 500 net margin sets new record high in 2018 on the corporate-tax-rate cut. Profit margins are cyclical, but not mean reverting nor a leading indicator. Be mindful of the gap between GAAP and non-GAAP EPS and net margins.
Capital preservation, predictable returns and diversification benefits have kept fixed income front of mind for insurers. Low starting yields on fixed income assets mean there is a limited cushion when prices fall. Furthermore, duration, which measures a bond’s sensitivity to changes in interest rates, has been drifting…
Can artificial intelligence unlock the potential of smart buildings? CMS’ latest thought leadership report seeks to answer this question by highlighting the findings from a recent roundtable discussion featuring leading real estate developers, investors, occupiers, architects and technology specialists. Download below and…
With weeks to go until 29 March 2019, there still remains considerable uncertainty on what the UK’s future relationship with the EU will look like from a financial services perspective. The UK investment management industry however has been pressing ahead with contingency plans for a no-deal Brexit. Drawing on the experience…
This document provides a helpful summary of the key International, European and UK regulatory developments and pertinent regulatory activity affecting the Financial Services industry.
Today there appears to be a sense of calm in the over-the-counter (OTC) US fixed income markets with regard to liquidity due primarily to the tight level of executed bid-offer spreads and the low level of volatility in interest rates. In our view, these measures alone are no longer reliable symptoms of a normal market. That…
This document sets out a number of issues which may apply to storage infrastructures and possible actions to mitigate them in the form of ‘Good or Sound Practices on Storage and Delivery Infrastructure’. The Practices are intended to cover the activities of market participants in their dealings in, and with regard to “…
In this episode of Amplified Mitch Reznick, Head of Credit Research and Ingrid Holmes, Head of Policy and Advocacy at Hermes, discuss the global trends in ESG regulation and what this means for Asset Managers.
Insurance companies need to hold sufficient solvency capital to carry out their business. As investors, they have an incentive to use this capital efficiently to generate sufficient returns. Solvency II has thus become a dominant driver of insurance investment in the past two years.
The purpose of this Quarterly Assessment is to provide an update for ICMA members on preparations for Brexit in international capital markets, with particular reference to cliffedge risks in the event that the UK leaves the EU without an agreement. Brexit affects ICMA members in both the UK and the EU27, as well as more…
