Slides Frédéric Pelèse

Intervenant

M. Pelèse Frédéric

Deputy Head, Regulatory & International Affairs Directorate
AMF

Biographie

Frédéric Pelèse is Deputy Executive Director of the AMF’s Regulatory policy and international affairs directorate.

A graduate of the Ecole Nationale Supérieure des Mines de Paris and the London School of Economics, Frédéric began his career in 2000 in the mergers and acquisitions advisory department of Crédit Agricole Indosuez in Paris. He joined the AMF’s Corporate Finance Directorate in 2005, where his responsibilities included controlling takeover bids and contributing to the development of French takeover law. Frédéric then moved to the Regulatory Policy and International Affairs Directorate as senior advisor in the Asset Management Regulation Division. He was appointed deputy to the head of this division in 2013, in which capacity he was closely involved in the French implementation of the Alternative Investment Fund Managers (AIFM) Directive and the reform of money market funds. Between 2014 and 2017, he was seconded to the European Commission in the security markets unit of the Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA), where he contributed to the elaboration of the Prospectus Regulation, the development of the Level 2 measures of MiFID II, as well as the review of the Short Selling Regulation.

Mise à jour le 21/03/2019

Événement

Cross-border distribution of investment funds in Europe: what is ahead in the context of Brexit and of the upcoming new European regulation?

Présentation

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

Objectifs pédagogiques

  • 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

Programme

8h30
Introduction
8h40
Distribution in the UK:
  • an update on the temporary permissions for fund marketing
  • what to expect from the FCA post-Brexit
The future of cross-border distribution in Europe
  • The cross-border distribution package: what changes are to be expected as regards EU fund distribution: AIMA’s view
9h10
  • The regulator’s view
9h35
  • Views and expectations of asset managers
10h25
  • Views of the securities services industry
10h45
Questions / Réponses / Conclusion
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