Regulatory notices
The Joint Committee of the ESAs revealed a comprehensive chart detailing the language allowed and pre-notification requirements applicable in each EU Member State.
The Securities and Futures Commission in Hong Kong recently announce the forthcoming of an online procedure to submit new product applications and post-authorisation/registration submissions to the Investment Products Division (IPD) via WINGS.
All processes concerning the authorization/registration of investment products will be handled through this platform, which includes correspondence with SFC and the payment of fees.
Following the publication yesterday of the Policy Statement 24/7 – Implementing the Overseas Funds Regime, the FCA has brought clarification to the operators of funds under TMPR on the operational impacts they could be exposed to.
The FCA finally published its Policy Statement on the implementation of the new Overseas Funds Regime to continue the marketing of the EEA UCITS in the United Kingdom either currently marketed under the TMPR or wishing to enter the UK market.
Before the publication of this final rules, the FCA communicated via Consultation Paper and regular updates of its relevant pages on its website.
Beginning of July, The European Securities and Markets Authority published new answers to questions posted by stakeholders. These questions have been answered on the ESMA Q&A online tool.
The question related to the application of the UCITS Directive concerns the compliance with the investment restrictions for a newly launched fund.
On July 3, 2024, the Financial Conduct Authority published the Periodic fees (2024/2025) and other fees (no 2) Instrument 2024 setting the regulatory fees and levies to be applied in 2024/2025.
From a cross-border distribution perspective, the FCA decreases substantially its fees for EEA UCITS marketed under the TPR compared to the current tariff and to the fees proposed in the consultation.
Last week, the Commission de Surveillance published two documents in the context of the application of the new rules of the CBDF regulations entering into application on July 14, 2024.
• In the FAQ CBDF on notification procedures, CSSF updated Q9, Q15 in UCITS Notifications Part, added a Q5 in AIFM Notification Part and deleted the Q2.
• In the “Guidelines on notification and de-notification procedures”, the new notification letter templates are replacing those figuring out in Annex 1 and adapted the Chapter 3 with the changes concerning the document CSSF attestation that is no longer requested.
Following the cancellation of the filing of the AIFMD reporting via the so-called secured channels taking effect on July 1, 2024, the Commission de Surveillance du Secteur Financier recently published an updated version of its AIFM reporting – Technical guidance.
In this latest version, references to the filing method via secured channels have been removed.
Alongside to the review of the notifications of AIFMD cross-border activities, the Commission de Surveillance du Secteur Financier published last week the updated pre-marketing form for AIFMs.