Regulatory notices

The Joint Committee of the ESAs published last Friday an updated version of its consolidated PRIIPS Q&As.

New questions have been added on 15 March 2024 providing clarifications on the following topics:

On 15 March 2024, the CSSF published an updated version of its technical guidance on AIFMD reporting.

This version 1.6 contains information on the deactivation of consistency controls on the content of the AIF files: CAF-206, CAF-207, CAF-208, CAF-209, CAF-210, CAF-211, CAF-212, CAF-213, CAF-214 and CAF-2015.

The Austrian Financial Market supervisory authority published last week its annual supervisory fees applicable to funds in 2024.

For foreign UCITS marketed in Austria, the tariff remains unchanged compared to 2022 and 2023. 600 EUR per (mono) fund and 200 EUR for any additional sub-fund (umbrella).

Yesterday, the Commission de Surveillance du Secteur Financier relaxed its rules on virtual assets investments. Luxembourg UCITS and UCIs AIFs may now invest directly (and indirectly) in virtual assets under the condition that their units/shares are only marketed to well-informed investors or pension funds (for UCITS/UCIs and well-informed investors for AIFs).

Yesterday, the Council of the European Union adopted the revision of the non-cooperative jurisdictions for tax purposes.

The Council decided to remove Bahamas, Belize, Seychelles and Turks and Caicos Islands from list.

On 20 February 2024, the FCA published its good practice and areas of improvement on the implementation of the Consumer duty rules.

These rules came into force in last summer requiring firms to act to deliver good outcomes for retail customers.

The Belgian Financial securities and Markets Authority published yesterday an update of its supervisory fees for 2024.

The initial inward marketing of foreign UCITS in Belgium increases from EU 434 last year to EU 471 payable per subfund no later than one month after receiving the invitation to pay.

On January 31, 2024, the Commission de Surveillance du Secteur Financier in Luxembourg updated its technical guidance on AIFMD reporting.

Following the addition of a third channel to submit AIFMD reporting to the Commission, the technical guidance includes now the eDesk link.

On January 30, 2024, the HMT notified the House about the Government findings EEA states including EU member states equivalent under the Overseas Funds Regime.

This decision will concern the UCITS except Money Market Funds (MMF) due to the related ongoing regulatory developments.