Regulatory notices
On 31 May 2022, ESMA published its final report on the 2021 Common Supervisory Action on costs and fees.
This report sets out ESMA’s analysis and conclusions on the CSA conducted in 2021 with the National Competent Authorities. The information contained in the report will be used by the in the context of the Union Strategic Supervisory Priority (USSP) given its relevance from an investor protection perspective. The USSP guides the work of the National Competent Authorities on supervisory priorities sets by the European supervisory authority for at least 3 years. Based on these works done, ESMA shall discuss possible follow up which may include guidelines, recommendations to competent authorities, and peer reviews, in the respective area.
Yesterday, the CSSF publishes its report on Sub-Sector Risk Assessment (SSRA) on ML/TF risks faced by the Collective Investment Sector.
This document should be seen as an updated supplement to the 2020 SSRA.
On 31 May 2022, the ESMA published a Supervisory briefing on Sustainability risks and disclosures in the area of investment management.
In this supervisory briefing, we learn how ESMA recommends that European national competent authorities verify the compliance of fund prospectuses and websites with the SFDR and TR. This information could guide you in implementing these regulations in your organisation and prepare you for questions or site visits in the coming months.
Yesterday, the FinDatEx PRIIPs technical working group has updated the European Comfort PRIIPs Template (CEPT 2.0) making the necessary changes to reflect modified data that is based on the PRIIPs Regulation (EU) No 1286/2014 and revised PRIIPs Delegated Regulation (regulatory technical standards, RTS) published by the European Commission on 7 September 2021.
On 30 May 2022, the CSSF released several updates forms on AML/CFT data collection.
These forms are available in French and English on the CSSF eDesk portal.
On 25 of May, the ESMA published on its website the letter of the European Commission providing the official answers to the questions addressed by the ESAs to it on the interpretation of certain articles of SFDR and EU Taxonomy regulation.
The Banque de France has just released two updates of its technical documentation of its CIS data collection system OPC2.
See below the details of such amendments.
The FCA and the Bank of England launched yesterday a consultation on how to strengthen the resilience of Money Market Funds.
Following liquidity issues encountered in 2020 with the beginning of the Covid crisis, the FSB worked on a report published in 2021 providing possible policy proposals to enhance MMFs resilience. The FCA and the Bank of England as FSB member committed to assess and address the vulnerabilities in the UK.
On Friday 20 May 2022, the European Commission launched a targeted consultation on the regime applicable to the use of benchmarks administered in a third country.