The FinDatEx initiative published an updated version of the EET on 21 December.
According to the release note, “this new version EET V1.1.2 includes typo corrections, transition from M/C to O of transitional scope 1, 2 data fields, and two new data fields 103 (Frequency of PAI) and 616 (snapshot list of invested countries in the sovereign sub part of the portfolio).
The Commission de Surveillance du Secteur Financier (CSSF) recently published the user guide for the eDesk UCITS marketing notification system. This new method replaces the preceding method submitted via e-File or Sofie.
All the necessary information and practical specifications in relation to the transmission of cross-border marketing notifications and de-notifications for UCITS through eDesk or through an API solution (S3technology) can be found in this guide.
On December 1, 2023, the Financial Conduct Authority has opened a consultation on the long-waited implementation of the Overseas Funds Regime (OFR).
In 2021, the Government legislated to create the OFR, a streamline process to recognise foreign funds under FSMA s271A. This new regime relies on the principle of equivalence between the UK legislation and those of the fund domiciles, the existence of a mutual co-operation between the regulator and the national competent authorities abroad and if they provide equivalent consumer protection outcomes for particular categories of scheme.
On 5 December 2023, the Joint Committee (“JC”)of the ESAs published a consolidated PRIIPs Q&As.
At this occasion, the JC added new questions on several topics:
• General topics
• Market risk assessment – Product categories (Cat 2. products)
• Performance scenarios (minimum investment return amount for life annuities)
• Multi options products (investment funds)
On the last day of November, the CSSF published a new version of its FAQ on the Law of December 17, 2010 (“UCI Law”).
Two questions of the first section have been modified to clarify the feeder eligible UCITS ancillary liquid asset type.
The Commission de Surveillance du Secteur Financier communicated on the further launch of the annual AML/CFT survey.
The 2023 survey to start on February 19, 2024, remains mostly unchanged compared to the previous year.
The CSSF updates its AIFM reporting – Technical Guidance for the 4th time this month in connection with the activation of the revision 6 of the ESMA Technical Guidance.
On November 15, 2023, the Commission de Surveillance du Secteur Financier published a press realise in connection with the forthcoming repealing of the Circular 11/509 announced in May 2022 related to the communication of the UCITS marketing (de)notification procedures.
Following the implementation in November 2023 of the revised IT technical guidance introduced in ESMA’s AIFMD Reporting Technical Guidance – revision 6, the CSSF has updated the corresponding document AIFM Reporting – Technical available on its website.
This document describes the different feedback files that the senders of AIFM reporting receive and the CSSF’s checks on the reporting files. The Regulator points out that certain fields become mandatory.