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EU Asset Management Regulation

Asset management activity in the EU is regulated by a number of Directives. Broadly speaking, asset management can be divided into collective and individual portfolio management. The Markets in Financial Instruments Directive (MiFID) regulates the performance of individual portfolio management. The Undertakings for Collective Investment in Transferable Securities (UCITS) Directive and the Alternative Investment Fund Managers Directive (AIFMD) regulate the management of pooled assets raised from a number of investors (collective portfolio management).

There is significant overlap among the three Directives.  Both UCITS and AIFMD allow the regulated entity, in addition to collective portfolio management, to carry out individual portfolio management. Conversely, MiFID firms may also manage portfolios of UCITS and alternative investment funds. 

Recently, the European Commission has also published a proposal for the specific regulation of Venture Capital Funds.

 

AIFMD

MiFID / MiFIR

UCITS 

Venture Capital

 

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    1. Asset Management Regulation
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Sub Menu

  1. Asset Management Regulation
    1. EU Asset Management Regulation
      1. AIFMD
      2. UCITS
        1. ETFs and Structured UCITS
      3. Venture Capital
      4. MiFID / MiFIR
    2. US Hedge Fund Adviser Regulations
      1. Registration and Reporting
      2. Incentive-Based Compensation
      3. JOBS Act
    3. Asia Pacific Asset Management regulation
    4. Other Jurisdictions’ Asset Management Regulation
    5. Regulation of NBFCs / SIFIS
    6. Supervision
      1. UK regulatory reform
      2. European Supervisory Authorities
      3. US Self-Regulatory Organisations
    7. Remuneration
      1. UK
      2. US
      3. CRD IV and CRR
      4. AIFMD
      5. MiFID
    8. Shadow Banking
    9. Volcker Rule
    10. Other
  2. Markets Regulation
    1. Bank/Capital Regulation
      1. Capital Requirements Directive
    2. Derivatives/Clearing
      1. EMIR
        1. EMIR Level 1
        2. EMIR Level 2
        3. EMIR UK Implementation
      2. MiFID / MiFIR
      3. MAD / MAR
      4. Dodd-Frank Act Title VII
      5. Hong Kong
      6. IOSCO
      7. Singapore
    3. High Frequency Trading
      1. ESMA Guidelines
      2. MiFID / MiFIR
      3. MAD / MAR
      4. Flash Crash
      5. IOSCO
      6. Germany
    4. Insurance Regulation
      1. Solvency II
    5. Market Abuse
      1. MAD / MAR
      2. Indices as Benchmarks
    6. Position Limits
      1. MiFID / MiFIR
      2. CFTC Position Limits
    7. Resolution of Financial Institutions
      1. CPSS-IOSCO
      2. Financial Stability Board
      3. Europe
      4. UK
      5. USA
    8. Short Selling
      1. EU Short Selling Regulation
        1. SSR Docs
          1. SSR Level 1 - Consultations, legislative process and releated AIMA documents
          2. SSR Level 2 consultations, legislative process and related AIMA documents
          3. SSR Review
      2. Hong Kong Short Selling Regulation
      3. US Short Selling Regulation
      4. Short Selling Bans
    9. Securities Settlement
    10. Trading
      1. MiFID / MiFIR
        1. MiFIDII MiFIR Level 1 Consultations, legislative process and related AIMA documents
      2. Dodd-Frank Act
  3. Tax Affairs
    1. EU Savings Directive
    2. FAIFs and FINROFs
    3. FATCA
    4. FIN 48 and IAS 12
    5. Financial Transaction Tax
    6. Investment Manager Exemption
    7. UK Offshore Funds Regime
    8. Other
  4. Search
  5. Resources
    1. Noticeboard
      1. Bribery Act
      2. Client Assets Regime
      3. Conflicts of Interest - UK
      4. Dodd-Frank Act - Fund Manager Registration and Reporting
      5. Dodd-Frank Act - Swaps and OTC Derivatives
      6. Dodd-Frank Act - Volcker Rule
      7. EMIR - Regulation on OTC Derivatives, CCPs and Trade Repositories
      8. EU Directive on Alternative Investment Fund Managers
      9. EU Directive on Alternative Investment Fund Managers - Level II
      10. EU Short Selling Regulation
      11. FATCA
      12. FTT
      13. FSA Remuneration Code
      14. General
      15. MADII / MAR - Market Abuse Directive
      16. MiFIDII / MiFIR - Markets in Financial Instruments Directive
      17. Other Tax Issues
      18. Securities Law Directive
      19. Shadow Banking
      20. Singapore Asset Management Regime
      21. Solvency II
      22. Swiss Collective Investment Schemes Act
      23. UCITS and ETFs
      24. UK Stewardship Code
      25. US Short Selling Regime
    2. Guidance Notes
    3. Quarterly Regulatory Update
 
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