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.
In this paper, we explore the key points of each standard and the links between them, before providing a high-level analysis of the various accounting options available to insurers. We finish by discussing the potential impacts of the standards on insurers’ investment strategies, and sharing some investment insights for…
This report outlines the thoughts and insights of technology and regulation specialists from some of the world's largest asset managers. They consider a variety of themes, including: (i) the current regulatory landscape; (ii) likely areas of future compliance focus; (iii) the potential for the industry to change how…
This report presents everything you need to know about climate change from a scientific, legal, actuarial, accounting, investment consultant, and portfolio management perspective.
State Street’s annual Growth Readiness Study gauges the investment industry’s perspective on opportunities and challenges to achieving growth. This year’s results provided valuable insights on global investor sentiment as well as emerging trends.
This 31-page report by the Financial Conduct Authority assesses the impact of the UK’s exit from the EU across three areas: (i) The UK leaves the EU without an agreement either on 29 March 2019 or after the transitional period on 31 December 2020; (ii) The draft Withdrawal Agreement; (iii) The outline of the political…
The global financial system has adopted an unprecedented volume of new regulations since the crisis, affecting everything from market structure to capital standards. As we look to 2019 and beyond, now is the time to ask, what reforms are working? Which would benefit from harmonization? What new risks have arisen? How do we…
It’s no secret that Asian asset management is in hyper-growth mode. For the past ten years, assets under management (AUM) have grown by 9 percent annually, capped by a strong 11 percent figure in 2017. Buoyant capital markets, a shift from deposits to investment solutions, and conducive regulatory regimes have propelled…
We assess the contribution of economic and financial factors in the determination of euro area corporate bond spreads over the period 2001-2015. The proposed multi-market, noarbitrage a¢ ne term structure model is based on the methodology proposed by Dewachter, Iania, Lyrio, and Perea (2015). We model jointly the 'risk-free…
This paper by CFA Institute helpfully summarises the evolution of public markets and public corporations with some conclusions about why there has been a shift from public to private capital formation. The authors close with policy recommendations designed to ameliorate issues raised.
This annual report by Deloitte explores how major regulatory trends will shape the financial services industry in the year ahead. It also provides some helpful guidance to leaders on how to best navigate the changes.
Whilst this paper by the Investment Association is focused on fixed income best execution, the central concepts and factors apply across the board. The application and specific interaction of these factors will vary from asset class to asset class but the fundamentals remain the same.
This Final Report by the European Securities and Markets Authority provides an overview of the feedback to the consultation papers received from stakeholders during the public consultation and public hearing as well as ESMA’s response to that feedback, together with the final version of the Regulatory Technical Standards (…
This report by the Financial Stability Board presents the results of the evaluation of the effects of financial regulatory reforms on infrastructure finance. It examines trends in infrastructure finance, reforms, and more.
Over the last four years, central banks, regulators for banks, pension funds and insurance companies have become the new key actors accelerating the financial sectors’ focus on sustainable and responsible investing. Beyond encouraging improved climate disclosures, the authors of this paper suggest that there is more that…
This annual report presents the Financial Conduct Authority's analysis of the changing financial landscape, the resulting impacts on consumers and market effectiveness. This analysis will feed into the regulator's Business Plan 2019/20.
Over the next decade, rising costs, lower fees and accelerating advances in technology will exert increasing pressure on the asset management industry. To remain viable and relevant, asset managers might need to re-evaluate their raison d'être and overhaul their business models to reflect the rapidly evolving demands of…
This briefing provides an update for signatories on legislative and regulatory proposals under discussion in the US regarding the shareholder voting process, ESG integration and the role of proxy advisory firms.
This report summarizes the Federal Reserve Board’s framework for assessing the resilience of the U.S. financial system and presents the Board’s current assessment. By publishing this report, the Board intends to promote public understanding and increase transparency and accountability for the Federal Reserve’s views on this…
This report finds that large public company sustainability reporting is maturing rapidly, with financial data presented alongside growing social and environmental metrics and quantified goals. It also finds that despite investor interest, most companies in the S&P 500 have not adopted fully integrated corporate reporting…
ICOs fill an essential gap in funding for entrepreneurs that have limited access to other forms of startup financing. Regulating them needs to resolve the conflict between financial innovation and protecting investors.
