ICMA's quarterly update includes items on recent global and EU regulatory developments, including in OTC derivatives and capital. It also looks at major changes that affect the primary and secondary markets, including amendments to the Prospectus Directive, the MiFID Review and the consultation on Packaged Retail Investment Products (PRIPs). It also looks at the asset management sector, including the AlFMD and the possible UCITS V. (Source: Regulatory Policy Newsletter, Issue 20)