Regulatory notices
On the 13 July 2020, the Central Bank issued the 34th edition of the Central Bank AIFMD Q&A.
The new version includes new Q&A IDs 1131 and 1132 in relation to liquidity stress testing in AIFs.
On 6 July 2020, the draft law postponing deadlines set by the modified FATCA and CRS Laws and the new DAC 6 Law (Law of 25 March 2020) has been deposited with the Chamber of Deputies in Luxembourg.
The AMF has recently introduced amendments on several instructions and their annexes in connection with the integration of non-financial features in the collective investment management sector.
On 9 July 2020, The ESMA has published a Public statement related to the application of the article 35 of the MMF Regulation (EU) 2017/11311 ) in the context of the Covid-19 pandemic. The Communication is addressed to the National Competent Authorities for coordinated action as well as clarity for money market fund managers.
Yesterday, the CSSF published a FAQ on its Circular 2002/77. The Q&A clarifies several interpretation issues related to its general application, the selection of the correction methods and the tolerance thresholds.
Friday 3 July 2020, the Central Bank of Ireland has published a communication about the introduction of the Register of Beneficial Owners for certain entities. End of June 2020, the Ministry of Finance has signed the Regulations that assign to the Central Bank of Ireland the responsibility to maintain a central register of beneficial ownership of certain corporate and other legal entities.
The long-waited EU Taxonomy Regulation has been finally published in the Official Journal of the European Union on 22 June 2020. In addition to draw the regulatory framework on which the financial sector will be able to propose ESG products or corporate bonds while eliminating the risk of green washing, the Regulation brings several amendments to the Sustainable finance disclosure regulation (SFDR) to ensure consistency between the two texts, at least as regards to the environmental issues.
Following the recent publication of the supervisory briefing on the supervision of costs in UCITS and AIFS by ESMA, the Luxembourg supervisor CSSF has published a communication to the attention of its supervised entities in scope.
Yesterday, the Austrian capital market supervisory authority, FMA has updated its Information on administrative practice and legal requirements pertaining to the notification and distribution of UCITS.