The proposed EU Shareholder Rights Directive aims to overcome certain corporate governance shortcomings in European-listed companies, and to encourage a more long-term-oriented investment process and active engagement by institutional investors and asset managers, in several ways.
Debt funds and banks today are using EU regulations to engage in loan portfolio financing at attractive rates using securitised fund finance techniques.
There are clear trends to do with the Alternative Investment Fund Managers Directive (AIFMD) and the setting up of EU funds that benefit from its passport and, in parallel, the establishment of EU-regulated alternative investment fund managers is growing fast, particularly outside the UK, post-Brexit.
In February, the European Securities and Markets Authority (Esma) moved to address some of the inconsistencies between the Ucits Directive and the Alternative Investment Fund Managers Directive (AIFMD) through its 2017 Supervisory Convergence Work Programme.
The asset management industry is of key importance to the UK economy, in terms of employment and tax revenues as well as the wider business needs that fund strategies support.
Liquidity management has been a key part of regulatory reform since the financial crisis in 2008.
