Regulatory notices
After many years of exemption, the AFM announced last week that non-EU AIFMs shall have to report Annex IV from April 2023 on Q1 2023 via the AFM Portal.
At the end of October, the ESAs’ Joint Committee wrote a letter to the European Commission Financial Stability, Financial Services, and the Capital Market Union Directorate at the end of October to inform the Commission of a delay in providing its input on the SFDR Principal Adverse Impact indicators and financial product disclosures.
Friday 11 November 2022, the Commission de Surveillance du Secteur Financier published an update of its Frequent Asked Questions on the Cross Border Distribution of Funds regulation.
Last week, the AMF published several updates of its policy impacting both the French collective investment schemes and the foreign funds marketed in France.
The CSSF published a communication on 9 November 2022 prolonging the fast-track procedure to obtain the visa on the prospectus modified to comply with the provision of the SFDR RTS that will apply from 1st of January 2023.
On Friday 4 November 2022, the ESMA published its compliance table on ESMA Guidelines on ETFs and other UCITS issues.
The FCA recently published a consultation Paper on Sustainability Disclosure Requirements and investment labels. This consultation follows the publication of a Discussion Paper in November 2021 and the collection of feedbacks and their analysis and is one of the elements of the UK government roadmap to sustainable investing. The FCA collects feedbacks until 25 January 2023.
A month after the publication of the ESAs Report on draft RTS on disclosure of financial products’ exposure to invest in fossil gas and nuclear energy activities, the European Commission adopted the proposed text. It will enter into force three days after its publication in the Official Journal of the European Union.
In advance to the implementation date of the new PRIIPs rules applicable to UCITS, the Italian Commission published a revised set of technical documents as well as the summary of regulations as provided for by the Cross Border Distribution of Funds regulations.