Posts tagged as Regulation

What a difference a new year makes

31 Jan 2017

With a new year comes a fresh start, and 2017 will be a year of new challenges and opportunities. 2016 was indeed an eventful year for politics around the world, but it will be 2017 where we will truly start to feel the full effects of some of these changes. If, as the government has suggested, Article 50 is triggered early this year, we should gain some insight into what kind of Brexit (‘hard’ or ‘soft’) we will have and how this could potentially affect the funds industry. We should certainly see greater clarity around fund passporting, so that we, as an industry, can start preparing to make any necessary changes.

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Jon Willis

Posted by Jon Willis, Chief Commercial Officer.
Tags: Regulation, Brexit, fintech

MiFID II: the clock is ticking

31 Jan 2017

The Markets in Financial Instruments Directive II (MiFID) is now only months away and meeting the product governance and target market provisions laid out in the regulation is a sizeable and exhaustive project for fund managers.

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Rob Swan

Posted by Rob Swan, Managing Director and Head of Data Services.
Tags: Regulation, Data Services

Brexit and MiFID II: What it means for financial services

13 Sep 2016

Brexit has caused a number of uncertainties among financial institutions although the immediate term volatility appears to have calmed. A recent Calastone survey, which comprised of managers, distributors and transfer agents, acknowledged Brexit will cause market disruption, with over two thirds believing the economic malaise could be a long-term phenomenon. That being said, fund managers, transfer agents and fund distributors are split on the issue, according to the Calastone survey.

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Jon Willis

Posted by Jon Willis, Chief Commercial Officer.
Tags: Regulation, Data Services, Brexit

MiFID II: where next for distribution?

27 Jul 2016

MiFID II is going to profoundly change the distribution model. Equally technology and investor demographics and buying patterns will have a huge impact as well. Distributors must embrace this so as to maintain their position in the market.

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Rob Swan

Posted by Rob Swan, Managing Director and Head of Data Services.
Tags: Regulation, Data Services

MiFID II: what should fund managers be thinking about?

20 Jul 2016

MiFID II uncertainties have been well-documented by numerous service providers and lawyers. Now is the time for managers to start implementing practical solutions to overcome or at least demonstrate best efforts compliance with MiFID II. MiFID II obliges fund manufacturers to monitor and understand how their distributors sell their funds.

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Rob Swan

Posted by Rob Swan, Managing Director and Head of Data Services.
Tags: Regulation, Data Services

The “Secret Sauce” to Success in China under the Mutual Recognition of Funds Program

17 Jul 2016

China’s growth may be slowing, but the investment opportunities presented by the world’s second-largest economy continue to expand. This was abundantly clear at a breakfast briefing Calastone held in June to discuss the opportunities associated with the Mutual Recognition of Fund (MRF) program, which celebrated its first anniversary on 1 July 2016.

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Sebastien Chaker

Posted by Sebastien Chaker, Managing Director - Head of Asia.
Tags: Asia, Regulation

The Risk of Regulatory Arbitrage

13 Jul 2016

Fund manufacturers and distributors have repeatedly complained that regulatory arbitrage undermines their ability to attain compliance and complicates their internal processes. It can add costs and confusion, and MiFID II is no exception to this.

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Rob Swan

Posted by Rob Swan, Managing Director and Head of Data Services.
Tags: Regulation, Data Services

The impact of MiFID II delays

05 Jul 2016

Repeated delays to MiFID II have frustrated market participants, and these have undermined their planning processes. This uncertainty – coupled with a lack of clarity over various MiFID II specificities – have caused issues among fund distributors and manufacturers.

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Rob Swan

Posted by Rob Swan, Managing Director and Head of Data Services.
Tags: Regulation, Data Services

Asia Region Funds Passport – a simple yet significant start

30 Jun 2016

It’s been nearly five years since APEC finance ministers announced their support for the creation of a pilot Asia Region Funds Passport structure, and the forthcoming launch of the Asia Funds Passport should provide a launching pad for Australian fund managers who would like to distribute relatively simple retail products across the region.

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Sarah Hayward

Posted by Sarah Hayward, Managing Director - Head of Australia.
Tags: Asia, Australia, Regulation

MRF opportunities still to be realised

06 Jun 2016

Foreign fund managers have been increasingly eyeing China’s asset management industry, amid rapid growth of wealth and liberalisation of the capital markets. Specifically, China’s capital markets and funds industry have undergone major changes over the last two years. Assets in domestic public mutual funds have grown 10-fold in 10 years and now control US$1.2 trillion.

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Sebastien Chaker

Posted by Sebastien Chaker, Managing Director - Head of Asia.
Tags: Asia, Regulation, China

Know your business

13 May 2016

Calastone’s Rob Swan talks about how fund management businesses need and would benefit from greater visibility of clients and distributors.

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Rob Swan

Posted by Rob Swan, Managing Director and Head of Data Services.
Tags: Regulation, Data Services

The changing face of distribution in China

04 May 2016

The liberalisation of China continues to rumble on. The Mutual Recognition of Funds (MRF) initiative, which permits Hong Kong domiciled fund managers to sell their products to mainland Chinese retail investors, and conversely Chinese managers to distribute into Hong Kong, has gained traction. The rules permit Hong Kong managers to sell into China without having to go through the hassle of entering into an equity partnership with a mainland financial institution.

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Sebastien Chaker

Posted by Sebastien Chaker, Managing Director - Head of Asia.
Tags: Asia, China, Regulation

Understanding the implications of MiFID II - seminar summary

02 Dec 2015

Calastone hosted a seminar on 11th November regarding the implications of upcoming regulation MiFID II on the funds management industry. The purpose of the seminar was to raise awareness of MiFID II and encourage debate and collaboration between all parties. Topics covered included; an Overview of MiFID II, The Impact of MiFID II on Distributors, The Appropriateness Test and A Fund Manager’s Perspective.

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Tags: Regulation

MRF update: A single connection for fund distribution in China

22 Sep 2015

Recent volatility on the Chinese stock market has probably come as a relief to those operational departments that had been expected to support the new Hong Kong China Mutual Recognition of Funds (MRF). The China Securities Regulatory Commission (CSRC) and Hong Kong’s Securities and Futures Commission (HKSFC) launched the scheme at the beginning of July, yet the regulators’ attention has now been diverted away from approval of MRF funds in order to find ways to stabilise and reassure the market instead.

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Sebastien Chaker

Posted by Sebastien Chaker, Managing Director - Head of Asia.
Tags: China, Hong Kong, Asia, Regulation

Fund distribution in China: Are you ready for MRF?

29 Jun 2015

Five weeks. Chinese and Hong Kong fund managers, custodians and distributors have not been given much time when it comes to setting up operational process flows from and into their respective countries. The China Securities Regulatory Commission (CSRC) and Hong Kong’s Securities and Futures Commission (HKSFC) announced the launch date for the Mutual Recognition of Funds (MRF) as 1st July 2015.

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Sebastien Chaker

Posted by Sebastien Chaker, Managing Director - Head of Asia.
Tags: China, Hong Kong, Asia, Regulation