Regulatory notice

Yesterday, the Central Bank of Luxembourg published an updated version of its FAQ on Statistical reporting of investment funds.

The question added related to the classification of Preferred Equity Certificate (PECs) in the security-by-security report.

Yesterday, the CSSF published a FAQ on Cross-Border Distribution of Funds Regulation focusing on marketing communication. The FAQ clarifies key aspects of the application of article 4 of the CBDF Regulation and ESMA Guidelines with the objective to bring further clarity on the supervisory expectations of the competent authority.

The ESAs Joint Committee published yesterday an additional list of questions addressed to the European Commission to clarify certain articles of the Sustainable Finance Disclosures Regulation (2019/2088/UE).

Following a consultation closed on 11 March 2022, the Commission adopted the Resolution no. 22437 of 6 September 2022 that amends its issuer’s regulation.
The modifications implement the requirements provided by the Cross Border Distribution of Funds Regulation (CBDFR) and the Sustainable Finance Disclosures Regulation (SFDR) and related articles in the EU Taxonomy regulation (TR) as well as the ESMA Guidelines on marketing communications under the Regulation on cross-border distribution of funds (2021).

The Swiss Financial Market Supervisory Authority (FINMA) has recently updated its list of Recognized electronic platforms for the publication of information to the Swiss investors.

On 27 July 2022, the CSSF reminded the deadline of 1 January 2023 for specific updates of UCITS and AIF pre-contractual documents.

Yesterday, The CSSF published the forms to be used to confirm the changes in connection with the implementation of the SFDR disclosure requirements applicable from first of January 2023 and to be submitted together with the prospectus.

End of August 2022, the BaFin made available the English translation of its updated Frequently Asked Questions on the marketing and acquisition of investment funds pursuant to the German Investment Code. The German version was updated in earlier in July and BaFin and also attached to this notification.

Yesterday, ESMA published two updated compliance table on the Guidelines on liquidity stress testing in UCITS and AIFs and Guidelines on performance fees in UCITS and certain types of AIFs.

On 1st of August 2022, FCA published a consultation paper on broadening retail access to the long-term asset fund (LTAF).

The proposals out for consideration would provide access to non-traditional investments, which consumers might use to FCA clamps down on marketing of high-risk investments to consumers diversify their portfolio and for potentially higher returns, while still offering strong consumer protection.