Beside the content itself of the consideration of which bonds fall or not under the scope of the PRIIPs regulation, one can notice that in its new communication, the ESAs JC recommends the co-legislators to specify more precisely the scope of financial products impacted by PRIIPs and to focus on packaged or wrapped products rather…
Insight & Opinions
Last week, ESAs joint Committee published the transcript of the opening remarks of EIOPA’s Chairman Gabriel Bernardino delivered in Dublin last month. Concerning #PRIIPs he said:” we are currently in the process of carrying out a targeted review of the existing Level 2 regime, complemented by consumer testing and close engagement with external stakeholders. We…
On June 14, 2019, the Commission de Surveillance du Secteur Financier published a communication regarding EMIR Refit, including the notification forms to be used by market participants in relation to the clearing obligation and reporting exemptions.
A week ago, AMF published its vision of the challenges EU 27 capital markets regulations need to meet The French regulator is quite dubitative on the success of the Capital Market Union in its current configuration, underlining the fact that the listed markets is eroding while asset management and indexes increase their respective weight. To…
Last week, within 3 days, the Belgian financial supervisor FSMA fined a French Management Company for inconsistency in its investor documents and the Cyprus Security and Exchange Commission (CySEC) published a Circular related to its observations on PRIIPs KID provided by Cyprus Investment Firms (CIF) to the retail investors. FSMA noticed that the estimated return…
The European Commission has today reported on the achievement of the Capital Market Union in preparation of the Council spring meeting next week. Not all the building block components have been finalised as illustrated below. Especially, the Commission urged the Council and the Parliament to reach an agreement on the ESAs review which constitutes an…
On February 28, 2019, FCA published its Feedback Statement related to the implementation of the PRIIPs Regulation, following the Call-for-Input launched in the course of summer 2018. The intention of the FCA was to collect input from firms about their first impressions on the PRIIPs implementation and the challenges they faced in using the Key…
On 29 November 2018, ESMA published its quarterly Risk Dashboard No 4. Notably the number of complaints about UCITS reported to ESMA by 18 NCAs has reached its highest level since Q3 2014. It is interesting to note that the number of complaints on UCITS exceeds those on CFDs. Concerning these latest instruments, there is no…
EU27 countries met last Saturday for a Special Meeting of the European Council in Brussels, where they endorsed the Brexit withdrawal agreement presented by negotiators of both the EU and the UK. In the published political declarations, the future relationship between the EU and the UK in terms of Financial Services that the…
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