The adoption of the Directive (EU) 2021/2261 on the use of key information documents by management companies of undertakings for collective investment in transferable securities (UCITS) has prolonged the life of the UCITS KIID until 31st of December 2022. After that date, UCITS investors will receive a revised Packaged Retail and Insurance-based Investment Products (PRIIPs)…
While the consultation of the Commission launched in May 2021 on a wide array of aspects related to retail investor protection is just closed that the European Institution calls the Joint Committee of the ESAs for advice on PRIIPs regulation. The Commission has invited the Joint Committee to provide advice on the following areas concerning…
Earlier this year, the European Commission finalised a report called “Study on options for development of online tools and services supporting retail investors in investment decisions” that was made available recently on its web site. This 10m EUR estimated project could take 4 years to be developed as illustrated in the document. The go-live could…
From 18 March 2020 to 15 April 2020 the European Commission consults on the inception impact assessment of the Benchmark Regulation review. The objectives of the review are: – To equip competent authorities with supervisory powers to ensure the orderly cessation of a critical benchmark, including the power to mandate the continued provision of a…
End of February 2020, the budget 2020 European Union has been published in the Official Journal. A portion of this budget has been allocated to the European Commission to lead a Pilot project that will analyse the impacts of the controversial question over common ownership of shares in European listed public companies by large non-EU…
Yesterday, the Executive Vice-President of the European Commission Valdis Dombrovskis officially launched the consultation on MiFID / MiFIR review. Consequently to its preliminary work, the Commission identified the following problems that it intends to solve by introducing new Directive and Regulation in the course of Q3 2020: Inadequate information available to investors and intermediaries Risks…
On 30 January 2020, the European Commission published an Inception Impact Assessment related to the Revision of the Non-Financial reporting Directive. The publication of this document constitutes the start of the forthcoming legislative journey to the final text expected in Q4 this year. It informs the public of the intention of the Commission with an…
Tomorrow, United Kingdom will leave the European Union under the Withdrawal Agreement ratified by the European council and by the European Parliament yesterday. FCA has implemented a Temporary Permissions Regime (TPR) for firms and funds intending to pursue their business in UK after Brexit. The procedure to enter into the TPR includes a notification for…
The new Chairwoman of the European Commission Ursula von der Leyen presented its European Green Deal aiming to reach carbon neutrality by 2050 on 11 December 2019. This Green Deal is an integral part of the Commission’s strategy to implement the United Nation’s 2030 Agenda and the sustainable development goals. It is obvious that even…
Following a call for expression of interest to join a High-Level Forum (HLF) on Capital Markets Union launched by the European Commission in last October, the list of the 28 candidates retained as Members of the Forum were announced yesterday 18th of November. The aim of this High-Level Forum will consist in feeding into the…