Regulatory notices

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.

On 20 May 2022, ESMA has published a series of updates to these FAQs.

Below are the updates impacting UCITS and SIAFs and their investment fund managers. In both FAQs, one question has been changed and another added concerning performance fees.

At the beginning of this week, the ECON Committee of the European Parliament (EP) published its draft report on the proposal for a directive of the European Parliament and of the Council amending Directives 2011/61/EU and 2009/65/EC as regards delegation arrangements, liquidity risk management, supervisory reporting, provision of depositary and custody services and loan origination by alternative investment funds.

The position of the rapporteur of the ECON Committee as outlined in its draft report is the following: