On 11 July 2019, the Luxembourg Parliament adopted a draft Law including several amendments of existing Laws and implementing recent European Regulations.
On July 12, 2019, the Directive 2019/1160 amending the UCITS and AIFM Directives with regards to cross-border distribution of collective investment funds, and the Regulation 2019/1156 on facilitation of cross-border distribution of funds and on amendments of EuSEF and EuVECA Regulations have been published in the Official Journal of the European Union.
On July 10, 2019, the Luxembourg Chambre des Députés (“ChD”) adopted the draft law transposing the EU Directive 2017/828 on Shareholders Rights.
This draft law states the requirements to be complied with in terms of shareholders’ identification, transmission of information and exercise of shareholders rights.
On July 15, 2019 the CSSF has published the UCITS Identifiers to be used in the UCITS risk reporting as at 06/2019 covering the 1st half of 2019.
Yesterday, the CSSF published its activity report 2018.
We think interesting to share with you some remarks that CSSF has made on the fund management companies supervision.
Unfortunately, the report does not contain information on further actions CSSF plans for the next 2 years in the fund management area.
The Technical Expert Group (TEG) set up by the Commission to develop the European Taxonomy in the context of the European Commission action plan on financing sustainable growth launched in March 2018 opened a call for feedback on its Report on Taxonomy published earlier in June.
This call for feedback will last until 13 September 2019 COB.
On 1st of July 2019, the CSSF published a press release concerning the opening of a new survey on the impact of the PRIIPs Regulation that has been in application since 1 January 2018.
On July 1st, 2019, the CSSF has published a new Circular related to the digitalisation of certain requests from regulated entities.
The Circular entered into force with immediate effect. CSSF will no more accept other mean of communication than eDesk.
As we already noticed it last week, the final text before its publication in the Official Journal of the European Union has been disclosed on the European Commission website based on Commission decision of the 3rd of July 2019 following a formal request from the ESAs to amend the RTS laid down in Delegated Regulation (EU) 2017/653.