Funds Bulletin

June 2014

The Deloitte Funds Bulletin delivers you our latest updates and insights on industry developments. We hope you find this edition useful and please contact us if you have any queries.

The Irish Funds Industry Association (IFIA) held its 16th annual global funds conference in Dublin on 18th June 2014.

Some of the topics discussed were:

  • ICAV
  • Loan origination funds
  • UCITS rulebook

There have been a number of recent updates from the Central Bank regarding AIFMD including the release of a ninth edition of it's AIFMD Q&A and the publication of the matrix of first reporting dates. 

On 15 June 2014, the Council of the EU published a further compromise proposal (10989/14) dated 13 June 2014 on the European Commission's proposed Regulation on “European Long-Term Investment Funds” (the “ELTIF Regulation”). The terms of the compromise proposal were later discussed on 16 June 2014.

The text of the ELTIF Regulation has been subject to significant discussion and amendment. 

The Central Bank of Ireland has recently confirmed that the text of the forthcoming UCITS rulebook will be substantially similar to the text of the draft rulebook issued under CP77. It has also published the second edition of the UCITS Q&A. 

In recent weeks, ESMA has published an additional Q&A, authorised 2 additional central counterparties under EMIR (Regulation 648/2012 on OTC Derivatives, central counterparties and trade repositories) and is engaging with the European Commission to ease certain frontloading requirements regarding the clearing obligation. 

Leading industry experts share their views on asset management, risk, regulation and distribution.

This May 2014 edition of Performance includes a wide range of contributions from industry thought leaders and examines the potential risks associated with extending fund enterprises to new geographic regions and external partners. It also explores a variety of other topics, ranging from:

  • How can fund managers assess cyber security threats?
  • Global tax and investor reporting: A changing landscape
  • Luxembourg private equity asset servicing market survey
  • A new landscape for EU capital markets
  • 2014 Alternative investment outlook championing growth
  • EU Fund administration: Embarking on a journey to overcome challenges and target operational excellence
  • Navigating the new operational frontier,Top 10 operational risks: a survival guide for investment management firms
  • Basel III: Unexpected consequences of a pharaonic project

We also bring you a range of articles covering: developing client asset rules in Ireland, to the successful adoption of international best practices in France and to how global investment managers are responding to changes in tax obligations and reporting standards around the world.

This slideshow provides an overview of the 2013 COSO framework and guidance, highlights key opportunities for investment managers, and identifies control and fraud issues. 

This report offers timely insights about the Eurozone, China, the United States, Japan, India, Russia, Brazil, and the United Kingdom. In addition, this issue’s special topic considers the revival in international trade and the resurgence of bilateralism. 

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