Regulatory issues 

Regulation is at the top of the agenda for financial institutions around the world, and significant uncertainty remains regarding the shape of the regulatory landscape. While progress on financial reforms was made at the G20 summit in Seoul, diverging national approaches have become evident. Achieving the ultimate goal of greater global financial stability will require effective financial regulatory reform balanced with macro-economic stability across jurisdictions.

A wide range of regulatory initiatives around the world are changing the landscape for Investment Managers and their funds.

Some of these include:

  • Dodd-Frank Act, which touches on virtually every aspect of its financial sector; proposals have been put forward by global, regional and national policy setting bodies which will change the structure, supervision and governance of financial services.
  • Foreign Account Tax Compliance Act (FATCA), aimed at flushing out US tax evaders worldwide by means of requiring affected foreign entities to identify and report to the IRS information about direct and indirect US account holders.
  • Alternative Investments Managers Directive (AIFMD), which brings EU managers of alternative investments into scope and includes increased capital requirements and general principles of business, remuneration rules, risk management rules and enhanced disclosure requirements, among others.
  • Undertakings for Collective Investment in Transferable Securities review (UCITS IV), focusing on ensuring high quality marketing information (with the ‘key information for investors document’), creating a European passport for UCITS management companies, simplifying administrative procedures, facilitating cross border mergers of UCITS and strengthening supervision in UCITS products.

What does this mean for large global investment managers? How will the new regulatory requirements change the business model, affect distribution and impact the cost of doing business? KPMG's leading investment management and regulatory experts can provide insights into the implications of the raft of regulatory change and the direction of developments around the world.

Making contact

Simon Topping

Principal, KPMG in China
Asia Pacific-China

Seiji Kamiya

Partner, KPMG in Japan
Asia Pacific-Japan

Giles Williams

Partner, KPMG in the UK

Richard Pettifer

Director, KPMG in the UK

Jim Low

Partner, KPMG in the US

John Greenlee

Managing Director, KPMG in the US

Jim Suglia

Principal, KPMG in the US

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