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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Australia | Publication | July 30, 2019
ASIC published a media release today, 30 July, in which it indicated it has requested that exchange market operators do not admit any managed funds that do not disclose their portfolio holdings daily, and which have internal market makers. Existing actively managed exchange traded funds, as well as other investment products that do not use internal market makers, are not impacted by this announcement. The purpose of the pause on new admissions is to enable ASIC to undertake a review for the remainder of the calendar year of the regulatory framework applicable to exchange traded managed funds that use internal market makers.
Funds adopting the internal market making model are usually actively managed funds and are estimated to represent approximately 6% of exchange traded products by funds under management. The review follows ASIC having identified the following material changes in the market for exchange traded managed funds:
ASIC has indicated that the pause on new admissions of these kinds of funds (including funds’ admission applications that are currently being considered) is effective until further notice. As part of its review, ASIC has indicated that there will be an opportunity later this year for industry to participate in a consultation. The findings from the review and consultation process will inform ASIC’s next steps in respect of the applicable regulatory framework. Please contact us if you have any questions about the potential future direction of these regulatory settings.
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
Publication
On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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