Regulatory notices
Following the consultation opened in last summer, the Resolutions concerning, respectively, the new methods to access the KID and its related information by Consob have been made available to the public a couple of days ago.
ESMA has recently updated its MiFID II Q&As on investor protection topics by adding a new question on ‘Information on costs and charges’ that aim to give guidance on how firms can present ex-post costs and charges information to clients in a fair, clear and not misleading manner.
HK – SFC updates its FAQ on Application Procedures for Authorization of Unit Trusts and Mutual Funds
On 17 December 2020, the Securities and Futures Commission, the Hong Kong financial market regulator has updated its “ Frequently Asked Questions on Application Procedures for Authorization of Unit Trusts and Mutual Funds under the Revamped Process”.
On Friday 18 December 2020, the CSSF published a communiqué related to the release of its report on the Thematic Review on Efficient Portfolio Management by UCITS together with a first version of a FAQ “Use of Securities Financing Transactions by UCITS”.
Yesterday, the Chamber of deputies adopted the 2021 state budget presented by the Minister of Finance, Mr Gramegna. 2 measures will impact the fund industry and are detailed hereafter.
Yesterday 17 December 2020, the Luxembourg Central Bank updated its S 1.3 and S 2.13 reporting instructions for the monthly MMF reporting and the quarterly non-MMF investment funds reporting.
On 16 December 2020, the CSSF published its guidance for the UCITS risk reporting as of December 2020 covering the 2nd half of the year. The deadline to report is set to 15 February 2021.
On 16 December 2020, the CSSF communicated that it has opened a fast-track channel to obtain the visa stamp on prospectuses and information to investors in connexion with the entry into force of the Sustainable Finance Disclosure Regulation beginning of March next year.
On 11 December 2020, the CSSF published a new circular alerting on (Circular CSSF 20/7619 on liquidity risks arising from margin calls) and recommending financial and non-financial in scope to take into consideration the increasing risk of movement on interest rates due to the current COVID-19 19 crisis economic impacts.