Global Regulatory Development – Page 19 – Global Investment Law Watch

Australia: A (new) Reason to Invest in Aussie Funds

Feb 11 2022

By: Jim Bulling and Cathy Ma

Legislation Passes Parliament

The Australian Federal Government passed the long-awaited Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 on 10 February 2022. The new regulatory and tax framework for Corporate Collective Investment Vehicles (CCIV) will commence on 1 July 2022.

This reform is a welcome step forward for the Australian funds management industry and is aimed at increasing the competitiveness and familiarity of Australian investment offerings to offshore investors.

Europe: Reverse Solicitation in the EU Attracting Regulator Scrutiny

Jan 15 2022

By: Philip Morgan

In a letter to the EU Commission published on 3 January 2022, ESMA has drawn attention to the fact that most EU regulators do not request or hold information on the extent of the offering of AIFs into the EU on a reverse solicitation basis (as opposed to through active marketing).

Notable exceptions are Italy and Cyprus. CONSOB has reported that in Italy 25% of the total subscriptions in funds gathered by Italian asset managers directly were done on the basis of reverse solicitation. It seems that this relatively high figure may have raised eyebrows, and sharpened ESMA’s focus on the issue.

Category:Global Regulatory Development