Regulatory notices

On Tuesday March, 26 2024, the Directive amending the AIFM and the UCITS directives was published in the Official Journal of the European Union.
The main changes to the AIFM and UCITS directives are designed to:
– improve the integration of asset management markets in Europe and modernising the framework governing key regulatory aspects,
– improve the availability of EU framework liquidity management tools for funds providing loans,
– strengthen the rules applicable to delegation by portfolio managers to third parties.

On Thursday 28 March 2024, the French regulator AMF published several new instructions in relation to the deployment of the new extranet Rosa impacting the most the French fund management companies.

The European Commission finally published the Regulations adopted in December last year amending UCITS Directive and Regulation 584/2010 and AIFMD as regards to the procedures implemented for the cross-border activities of funds and fund management companies within the European Union and EEA.

The Government communicated on the status of its “Building a Smarter Financial Services Regulatory Framework for the UK plan and the next steps.

According to the document made available by the HMT, phase 3 to come will encompass:

On 6 March 2024, the European Commission wrote a letter to ESMA requesting several amendments to the draft RTS it had submitted at the end of last year.

If ESMA does not address the comments provided by the European Commission within 6 weeks, the Commission shall be empowered to adopt the RTS with the amendments it considers necessary.

Last week, FinDatEx launched a consultation on the update of the current version regarding the EMT V4.1.

The draft version of the V4.2 contains supplementary UK specific section linked to detailed on-going costs.

The Joint Committee of the ESAs published last Friday an updated version of its consolidated PRIIPS Q&As.

New questions have been added on 15 March 2024 providing clarifications on the following topics:

On 15 March 2024, the CSSF published an updated version of its technical guidance on AIFMD reporting.

This version 1.6 contains information on the deactivation of consistency controls on the content of the AIF files: CAF-206, CAF-207, CAF-208, CAF-209, CAF-210, CAF-211, CAF-212, CAF-213, CAF-214 and CAF-2015.

The Austrian Financial Market supervisory authority published last week its annual supervisory fees applicable to funds in 2024.

For foreign UCITS marketed in Austria, the tariff remains unchanged compared to 2022 and 2023. 600 EUR per (mono) fund and 200 EUR for any additional sub-fund (umbrella).