Regulatory notices
On 5 July 2023, the Financial Conduct Authority published the Periodic Fees (2023/2024) and Other Fees Instrument 2023 setting the regulatory fees and levies to be applied in 2023/2024.
From a cross-border distribution perspective, the FCA decreases substantially the fees for EEA UCITS marketed under the TPR compared to the current tariff and also to the proposed fees in the consultation.
On 3 July 2023, ESMA published its second report on the Marketing requirements and marketing communications under the Regulation on cross-border fund distribution.
In accordance with the regulation, this report is presented every two years to the European Parliament, the Council and the European Commission.
In the last days, the Commission de Surveillance du Secteur Financier updated its form used to submit the request for approval of subfunds for funds already regulated as well as 2 FAQs (one FAQ CBDF on notification procedures and the FAQ on Market entry form).
Greenwashing is a growing concern, not only for investors but also for the European Commission and Esas, both of whom engaged in a process to identify risks and appropriate measures to counteract this.
Last month, ESMA published its Progress Report on the Greenwashing Response to the European Commission’s request for input on “greenwashing risks and the supervision of sustainable finance policies”.
On 14 June 2023, ESMA published an update of its QA on the application of the UCITS Directive providing clarifications on the following topics:
ESMA updated its Q&A on Application of the AIFMD by adding a new question in a new “Marketing” section.
On 8 June 2023, ESMA released the 6th version of its AIFMD Reporting Technical guide.
The new IT technical guidance – revision 6 introduces new validation rules making more fields mandatory or with stricter rules to improve data quality. The new changes are specified in the tab ‘change history’ of the excel document.
ESMA recently launched a consultation on the revised RTS following the publication of the ELTIF II Regulation in the Official Journal on 20 March 2023.
On 17 May 2023, ESMA published on its website two consolidated versions of the ESAs Joint Committee FAQs on PRIIPs and SFDR.