On 31 March, ESMA published the awaited Consultation Paper on cross border distribution of funds following the adoption last year of the Regulation 2019/1160 addressing a certain number of issues in this context.
Yesterday, the Luxembourg Government submitted to the “Chambre des Députés” a draft Law related to the extension of certain deadlines foreseen in sectorial financial laws during the state of crisis.
ESMA has published a public statement to ensure coordinated supervisory actions needed in response to the effect of the COVID-19 outbreak and its consequences on supervised entities on the application of SFTR, and in particular on the requirements regarding the reporting start date.
Yesterday, the Securities and Futures Commission (SFC) in Hong Kong has adopted the same measures as the CSSF did in terms of swing pricing mechanism and anti-dilution levy in the context of high volatility on the financial markets due to the COVID-19 crisis.
Yesterday, CSSF published a “Communiqué” informing the entities under the obligation to submit a Long Form Report (LFR) that the deadline has been extended under certain conditions in consequence of the Coronavirus outbreak.
Yesterday, CSSF has updated the AML/CFT identification letters and fund market entry form.
In substance, the modifications brought to the forms are the following:
In the context of the COVID-19 outbreak and the measures implemented by supervised entities to mitigate the disruption of the services, CSSF has published yesterday a “communiqué” on regulatory reporting obligations.
Friday 20 March 2020, the CSSF released a “communiqué” about an update of its FAQ on Swing price following questions received from fund operators in the context of the market turmoil generated by the COVID-19 outbreak.