In just over one month, Brexit should become a reality. Uncertainty still prevails largely as regards practical consequences for the asset management industry for product distribution in the UK and the continent. At least, the UK temporary permission regime will provide a backstop to ensure inbound funds can continue their UK business with minimal disruption: it will allow inbound firms to continue operating in the UK within the scope of their current permissions for a limited period after exit day, while seeking full UK authorisation, and permit funds with a passport to continue temporarily marketing in the UK.

Jennifer Wood, Managing Director at AIMA (Alternative Investment Management Association), in charge of asset management regulation, will be giving an update on this mechanism and what to expect from the FCA post-Brexit.

More globally, the framework for cross-border distribution of funds in Europe is about to be stabilised, introducing new possibilities for entering or leaving a European national market. The Regulation on facilitating cross-border distribution of collective investment funds and the Directive amending the UCITS and AIFM directives have been adopted by the Council and the Parliament and are being finalised. An important step, as was acknowledged by EFAMA who welcomes this preliminary agreement in trilogue.

It is time to report on the changes introduced by these proposals aiming at setting out a harmonised framework to make the cross-border distribution of funds simpler and cheaper, and to discuss with asset managers about their expectations as regards these rapidly adopted proposals.

AMF will present the regulator’s view on the future framework for funds distribution across Europe. BNP Paribas AM and La Française Investment Solutions will share their experience and perspectives for cross-border distribution.

Audience

- Asset managers:

• CEO, CIO, COO
• Commercial/Distribution Department
• RCCI/Compliance, Legal, Risks Departments

- Banks, Securities services

- Financial services providers, Lawyers

• Learn about the temporary permission regime for the distribution of funds in the UK  
• Get an update on the progress of European regulation on cross-border distribution and share views on the expectation of the asset management industry