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With effect from 1 July 2013, enhanced prospectus disclosure requirements apply for offers of units in collective investment schemes to the retail public and an information memorandum is required to be furnished to investors for an offer of units in a restricted...

To add vitality to the securities market, Vietnam’s Ministry of Finance (“MOF”) recently introduced certain regulatory changes on foreign investors’ securities trading, and for the first time authorized the formation of securities investment...

From 22 July 2013, a large group of "AIFMD exempt" European venture capital managers may elect for "EuVECA" status of their venture capital funds. Provided that they comply with certain requirements, substantially less material than those...

In March 2013, China issued a new set of measures to govern onshore securities investment by Renminbi qualified foreign institutional investors (RQFII).  The new measures now expand the types of entities eligible to apply for RQFII licence.  Previous...

The European Securities and Markets Authority (ESMA)'s consolidated Guidelines on ETFs and other UCITS issues (Guidelines)  entered into force on 18 February 2013. On the same day, the Commission de Surveillance du Secteur Financier (CSSF) published...

International regulators have now published a ‘near-final’ policy framework setting minimum standards for margin requirements for uncleared derivatives. “Margin requirements for non-centrally cleared derivatives - Second consultative document”...

On March 4, 2013, the Office of Compliance Inspections and Examinations ("OCIE") of the Securities and Exchange Commission (the "SEC") issued a Risk Alert identifying "significant deficiencies" in compliance with Rule 206(4)-2 (the...

Clifford Chance's International Regulatory Update is a weekly digest of significant regulatory developments affecting banking and investment banking business, drawing on our daily content from our Alerter: Finance Industry service

For the alternative investment fund industry, 22 July 2013 will mark the radical transformation of the EU regulatory landscape. The EU Alternative Investment Fund Managers Directive (“AIFMD”) imposes a licensing and regulatory compliance framework...

Clifford Chance's International Regulatory Update is a weekly digest of significant regulatory developments affecting banking and investment banking business, drawing on our daily content from our Alerter: Finance Industry service