Regulatory notices
Yesterday 10 June 2021, the Commission de Surveillance du Secteur Financier updated its FAQ on AIFMD.
On 4 June 2021, the European Insurance and Occupational Pensions Authority (EIOPA) issued its Guidelines on the supervisory reporting for the Pan-European Personal Pension Product in all EU official languages.
On 31 May 2021, the Luxembourg Minister of Justice has deposited Draft law amending the amended Act of 23 September 2020 on measures concerning the holding of meetings in companies and other legal persons in the context of the Covid-19 pandemic.
Yesterday, HM Treasury has announced that the current exemption for the UCITS funds from the requirements of the PRIIPs Regulation will be extended by five years to 31 December 2026.
On Friday 28 May, ESMA published an Opinion on Collection of information for the effective monitoring of systemic risk under AIFMD.
Friday 28 May 2021, ESMA published an updated version of its Q&A on the application of the UCITS Directive.
Two new questions (3 and 4) have been added to the ESMA’s guidelines on performance fees in UCITS and certain types of AIFs section of the Q&A.
Friday 28 May 2021, ESMA published an update of its Q&A on the application of the AIFM Directive.
ESMA added 3 new questions(84,85 and 86) in the Section III – Reporting to national competent authorities under Articles 3, 24 and 42. The Section XV: ESMA’s guidelines on performance fees in UCITS and certain types of AIFs of this new version of the Q&A is also amended by the adjunction of 3 new questions (4,5 and 6).
On Thursday 27 May 2021, the European Securities and Markets Authority (ESMA) published its Report on Guidelines under the Regulation on cross-border distribution of funds in accordance with the Regulation (EU) 2019/1156 of 20 June 2019 on that topic and especially in connection with the articles related to the marketing communications that will apply from August 2nd, 2021.
The publication of the report follows the consultation process started in November last year and for which we have communicated on the draft at this time.
On 14 May 2021, the FCA launched a consultation on a “New Consumer Duty” aiming to reinforce the protection of the retail investors by describing the expectations of the regulator on the behaviour that regulated firms should adopt by setting out the Consumer Duty as rules and guidance in the FCA Handbook.