The new Investment Solutions Act of 25 April 2016 (Act on access to investment services and on the status and supervision of portfolio management and investment advice firms) replaces the Act of six April 1995 on the status and supervision of investment firms. In the Netherlands, only investment firms getting obtained a licence from AFM and credit institutions obtaining obtained a licence from DNB may possibly offer investment services and/or execute investment activities. However, the EBA mentions that it may create the detail of a supervisory assessment process for investment firms.
The paper published on Friday outlines functions of a new regime for all other investment firms (i.e. not systemic and bank-like, or Class 2 and 3 firms). A excellent thing about working for Morgan Stanley is that people will be capable to perform with a different variety of investors and businesses than is normally found with higher profile investment firms.
Consulting firms also are acquiring alternative investment consulting firms to expand their offerings by providing specialty consulting solutions, such as private equity or true estate. Amongst these to leave were Walter Donovan, Putnam’s chief investment officer since 2009, when he was hired away from Fidelity, and Robert Ewing, head of US equities and another Fidelity alumnus.
Firms need to make sure they can full the relevant transaction fields and so should consider their existing systems for acquiring the necessary data. The DP sets out a broad range of questions and choices on the design and style of the new tailored regime for Class two and three firms.
More normally, the EBA is at present seeking views on a new prudential regime for investment firms. A relatively new monetary investment firm compared to others, JPMorgan Chase & Co. is a economic solutions holding firm and a multinational banking entity.…