To help you stay informed on the latest trends and developments in the asset management industry, KPMG’s Asset Management team, in collaboration with KPMG Law, has curated a selection of key resources. Explore expert insights and stay up to date with the issues shaping the future of the sector.
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Critical topics in asset management
Check out our recent concise, insightful webinars designed exclusively for professionals in the asset management sector. The recordings of April webinars are available for you to access here.
Asset Management Update June 2025
Our Asset Management Team, together with our Tax team and KPMG Law, hosted a detailed Asset Management Reporting, Tax & Regulatory Update webinar in the beginning of June.
FSPO publishes Overview of Complaints 2024
The team at KPMG Law offered insights into the Financial Services Pensions Ombudsman’s (FSPO) recently published annual Overview of Complaints 2024. The review revealed that 6,185 complaints were received, with 86% closed within the year.
Private Credit
The private credit industry has experienced significant growth over the past decade, evolving into a critical component of the global financial system. Read our recent thought leaderships and listen to podcast episodes for more insights on this topic.
Central Bank of Ireland (CBI) and ESMA updates
CBI May 2025 Newsletter
The Central Bank of Ireland published its 2025 first Investment Firm and Intermediary Newsletter. It provides insights into various areas: intermediary, MiFID, crowdfunding, policy updates, as well as general CBI updates.
Quarterly Bulletin 2025:2
The Central Bank published its second Quarterly Bulletin of 2025 - Quarterly Bulletin 2025:2 - Slower pace of domestic growth amid trade tensions and global uncertainty.
Blockchain Ireland Summit 2025
Speech by Gerry Cross, Director, Capital Markets and Funds, Central Bank of Ireland.
MiCAR Industry Briefing
Gerry Cross, Director of Capital Markets & Funds, addressed the Central Bank of Ireland's commitment to the successful implementation of the Markets in Crypto Assets Regulation (MiCAR). He highlighted the EU's digital finance package, including MiCAR and the Digital Operational Resilience Act (DORA), aimed at modernising the European economy.
Mr. Cross emphasised the importance of good governance, consumer protection, and security in the crypto sector. He outlined the Central Bank's clear and supportive authorisation process, designed to facilitate industry engagement and proportional regulation. Additionally, he stressed the need for a harmonised approach to MiCAR implementation across the EU to avoid regulatory arbitrage.
Consultation Paper on Guidelines for Knowledge and Competence in MiCA
Security and Markets Stakeholder Group (SMSG) advice to ESA’s consultation paper on guidelines for the knowledge and competence under the markets in Crypto Asset Regulation (MiCA).
ESMA Final Report: Guidelines on LMTs of UCITs and open-ended AIFs
The revised AIFMD and UCITS Directive1 provide that ESMA shall develop guidelines on the selection and calibration of liquidity management tools (LMTs) by UCITS and AIFMs of open ended AIFs for liquidity risk management and for mitigating financial stability risks.
Those guidelines shall recognise that the primary responsibility for liquidity risk management remains with the UCITS and AIFM. Furthermore, they shall include indications as to the circumstances in which side pockets can be activated and allow adequate time for adaptation before they apply, in particular for existing UCITS and open-ended AIFs.
On 8 July 2024, ESMA published a Consultation Paper (CP) on the proposed draft guidelines. The public consultation closed on 8 October 2024. This final report includes the revised guidelines developed taking into account the feedback received to the consultation.
ESMA Final Report: Draft Regulatory Technical Standards on Liquidity Management Tools under the AIFMD and UCITS Directive
The revised AIFMD and UCITS Directive1 provide that ESMA shall develop draft regulatory technical standards (RTS) to determine the characteristics of liquidity management tools (LMTs)2 available to AIFMs managing open-ended AIFs and to UCITS.
On 8 July 2024, ESMA published a Consultation Paper (CP) on the proposed draft RTS. The public consultation closed on 8 October 2024. This final report includes the revised RTS developed taking into account the feedback received to the consultation.
Contact points of national competent authorities (NCAs)
Contact points of national supervisory authorities for communication in the MiFID II framework on supervisory cooperation, authorisation, acquisitions and passporting.
Guidelines on supervisory practices for competent authorities to prevent and detect market abuse under the MiCA
MiCA was published in the Official Journal of the EU on 9 June 2023 and started applying from 30 December 2024. ESMA has been empowered to develop technical standards and guidelines specifying certain provisions of MiCA.
To fulfil this empowerment, ESMA has drafted the guidelines on competent authorities’ supervisory practices to prevent and detect market abuse under MiCA, which are detailed in this final report.
ESMA publishes the annual transparency calculations for non-equity instruments and bond liquidity data
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the results of the annual transparency calculations for non-equity instruments and new quarterly liquidity assessment of bonds under MiFID II and MiFIR.
Annual Report for 2024
ESMA publishes Annual Report for 2024 - ESMA’s activities in 2024 focused on strengthening the EU capital markets and putting citizens and businesses at the heart of it
Industry and other updates
European Fund and Asset Management Association (EFAMA): Recent publications and reports
- Overview - The rise of active ETFs in Europe
- EFAMA Consultation Response to ESMA
- UCITS continued to attract strong investor interest in February
- EFAMA Feedback on IOSCO’s Report: Artificial Intelligence in Capital Markets
Guidance for Open-ended Funds
IOSCO published FR/11/2025 Guidance for Open-ended Funds for Effective Implementation of the Recommendations for Liquidity Risk Management in May 2025.
IOSCO Sustainable Bonds Report
This report is the result of work completed by IOSCO, through the Sustainable Finance Taskforce, to identify the key characteristics and trends tied to the sustainable bond market and analyse the distinctive features of sustainable bond products compared to their “traditional” counterparts. IOSCO undertook this work to assist regulators to identify regulatory considerations that regulators can examine to address unique risks tied to this market.
Joint Committee of the European Supervisory Authorities published the Annual Report for 2024
The Joint Committee published its 2024 Report in April 2025 which showed the work completed in 2024. While continuing to monitor risk to the financial market and system, it also focused on risk assessments, securitisation, and the European Single Access Point (ESAP). It showed how DORA was implemented while also continuing work on the Sustainable Finance Disclosure Regulation (SFDR). The work of the three ESAs (ESMA, EOIPA, and the EBA) shows how they try to ensure consistency in their approach to financial issues and updates.
EFAMA Annual Review
EFAMA published its Annual Review (June 2024-June 2025).
Get in touch
To find out more about how KPMG perspectives and fresh thinking can help you focus on what’s next for your business or organisation, please get in touch with our team. We’d be delighted to hear from you.
