Regulatory notices
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.
In May this year, the ESMA presented the outcomes of its Common Supervisory Action (CSA) on supervision of UCITS cots and fees launched in May 2021, sharing its views on the various findings, including on the process of setting, and reviewing of fees, the notion of undue costs, the issues stemming from related party transactions and the costs related to EPM techniques as well as the follow-up actions envisaged by National Competent Authorities (NCAs) and the main lessons learnt.
Yesterday, the CSSF published its feedback statement of this CSA based on its own observations on the Luxembourg markets bases on a sample of Luxembourg investment fund managers and foreign investment funds.
Yesterday, the Consob launched a consultation on the amendment of the Issuer Regulation in connection with the forthcoming entry into force of the Directive (EU) 2021/2261 as regards the use of KID by UCITS management companies and to Regulation (EU) 2021/2259 amending Regulation (EU) No 1286/2014 as regards the extension of the transitional arrangement for management companies, investment companies and persons advising on, or selling, units of UCITS and non-UCITS.
On 13 October 2022, the Journal of the European Union published the decision taken by EEA Joint Committee to amend the Annex IX to the EEA Agreement dedicated to the Financial services by adding the Cross-border Distribution of Funds Regulation (EU) 2021/955 of 27 May 2021 and its correction (published in the OJ L 398 on 11 November 2021, p. 49.)
On 12 October 2022, FinDatEx published an amended version of its EPT V 2.1 template.
On 4 October 2022, the CSSF updated its FAQ in relation to the completion of the AML/CFT Market Entry Form (here-after “Market Entry Form”) in eDesk.
FinDatEx just opens its consultation on the EET V1.1.