Finance Bill 2015 includes changes to existing anti-avoidance provisions relevant to private clients with offshore structures

New requirement to produce a directors’ compliance statement for all financial years commencing on or after 1 June 2015

The European Parliament and EU Member States have reached a deal on the Network and Information Security Directive

Statistics show increase in net sales of long-term UCITS (UCITS excluding money market funds) despite overall decrease in net sales of UCITS

Regulation will provide greater transparency in the benchmark-setting process

Standards are generally consistent with developments in depositary regime under AIFMD and UCITS V

Changes are not significant and are principally of a technical and clarificatory nature bringing the requirements for AIFMs and AIF management companies in line with requirements recently introduced for UCITS management companies

Guidance to be used as benchmark when determining compliance by fund management companies with regulatory obligations