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In this second blog of the ESG series, we examine the proposed ESG-related disclosure and reporting requirements for investment advisers through amendments to Form ADV, Part 2A (“the Brochure”). The Proposed Amendments require investment advisers to disclose their ESG investing approach by strategy, relationships with related persons, and any ESG-related impacts on proxy voting. These proposed changes will likely apply to wrap fee funds too.

As global regulators are intensifying their focus on “greenwashing”, the absence of standardization or a common disclosure framework frustrates investors and their managers. Across the industry, there is a well-recognised lack of consistent and comparable data which may lead to potential greenwashing and is making the regulators’ and managers’ jobs ever more challenging and burdensome regarding regulatory data management.

At Adminovate 2022, held on the 26th of May, we listened to a detailed panel discussion titled “ESG and the Funds Industry”. They also discussed when investments are made by firms in projects that ultimately have a focus on an initiative that brings a general benefit to society, and therefore gaining a social license for their investment priorities. Implications of social movements such as Black Lives Matter were discussed in relation to the power and importance to society, with matters such as that from 2021.

Today the FCA have released a joint Discussion Paper (DP) aiming to gather views to inform the UK’s authorities’ development of MMF reform proposals. The FCA are inviting feedback on the reform options discussed in the DP by 23 July 2022 and will consider this in deciding whether to consult on MMF reform proposals. The FCA has also issued new non-handbook guidance on the UK MMF Regulation.

The financial conduct authority have announced some changes to AIF001 and AIF002 reports that come into effect from the end of June 2022 following the UK's withdrawal from the EU. This is the first major schema update since 2014.

The proposed changes are significant in that large hedge fund advisers and all advisers to private equity funds would have one business day to report to the Commission the particulars surrounding certain “key events”.

The European Commission has delayed implementation of the second phase SFDR Level 2 disclosures until January 2023. This article examines what that means for AQMetrics clients and what has to be done by January 2023.

As 2022 dawns we look ahead at the regulatory requirements for asset managers, asset service providers and investment managers.

The AQMETRICS annual regulatory round-up - an initiative to keep you abreast of this year’s regulatory technology news and events.

We examine the shifting regulatory landscape for ManCos and Super ManCos in Ireland and outline how technology can help with the regulatory burden.

Firms are now at the stage of enhancing their ESMA’s 2020 liquidity solutions. To help those firms we have listed our top three best practice hints and tips for 2022 here.

On 25 November 2021, the European Commission (the EC) adopted a package of legislative proposals with an aim to deliver on several key commitments in the 2020 Capital Markets Union (CMU) action plan.

Every firm can reduce this risk by undertaking these 5 key activities in the run up to year-end.

Welcome to AQMETRICS regulatory round-up, a monthly initiative that keeps readers abreast of all the latest regulatory news and events

We understand that XBRL conversion can be daunting for technology-light financial services firms. This is why we built a one stop online platform that produces all forms of regulatory returns irrespective of their form.

The CBI has followed in the footsteps of other European regulators in moving it’s reporting format for Excel based reports to XBRL. What does this mean in practice?

After an action packed July, where ESG, liquidity and new fund types took centre stage, August proved to be somewhat more muted, although there were still some important announcements.

Welcome to AQMetrics regulatory round-up, a monthly initiative that keeps readers abreast of all the latest regulatory news and events.

For US-based funds there could soon be other changes coming down the line, particularly to the longstanding 13F rule.

The Association of the Luxembourg Fund Managers (ALFI) again took the chance to reiterate its position on the proposed AIFMD changes in an article by Emmanuel Gutton