Evolving Investment Management Regulation: A clear path ahead? (KPMG)

June 2012

KEYWORDS: Africa, AIFMD, Asia Pacific, assets under management, AUM, CCP, central counterparties, CFTC, Commodity Futures Trading Commission, commodity pool operator, compliance requirements, CPO, Dodd-Frank Act, EMIR, ERISA, ESMA, EU, European Union, FATCA, Financial Transaction Tax, Foreign Account Tax Compliance Act, Form PF, France, FSA, Germany, Global, hedge fund registration, Hedge Fund Regulation, Institutional Investors, Italy, JOBS Act, MAD, Middle East, MiFID, OTC derivatives, pensions, regulatory compliance, risk management, shadow banking, tax, UCITS, United Kingdom, Volcker Rule

Authors:

Charles Muller, James Suglia, Bonn Liu

Organizations:
  • KPMG

Summary:

In response to economic and regulatory change, the investment management industry, like the financial sector as a whole, is evolving and re-shaping. Post-crisis, the banking industry has been at the forefront of the policy debates, with the regulatory agenda focused firmly on the potential lack of capital, the need for more robust liquidity coverage, the opaqueness of the derivatives market, the structural and systemic issues being addressed under the ‘too big to fail’ agenda and the continuing debate on remuneration. The investment management industry also has issues, but the policy response to the crisis remains focused on banks. So this raises the question: why do surveys and other commentary from the investment management industry show that regulatory pressures, challenges and costs are the most significant issues currently facing the industry?

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