Regulatory notices

On 10 June 2020, the European Commission published its report to the European Parliament (EP) and the Council assessing the application and the scope of Directive 2011/61/EU of the European Parliament and of the Council on Alternative Investment Fund Managers in accordance with the article 69 of that Directive.

The European Commission opened a public consultation on 8 June 2020 on different financial regulatory frameworks in the context of sustainable finance covering among others insurance and asset/investment management sectors. This wide online consultation will last till 6 July 2020.

ESMA has launched a Consultation Paper on the forthcoming introduction of Guidelines on outsourcing to cloud Service Providers. The consultation is open till 1 September 2020.

The increase of outsourced IT activities and the highest level of risks associated for management companies or alternative investment fund managers among others have motivated ESMA to address this situation with the introduction of Guidelines that will be applied by the National Competent Authorities as well as by their supervised entities.

The European Commission opened a public consultation on 8 June 2020 on different financial regulatory frameworks in the context of sustainable finance covering among others insurance and asset/investment management sectors. This wide online consultation will last till 6 July 2020.

On Friday 5 June 2020, the CSSF has published a Communiqué on the European Systemic Risk Board (ESRB) Covid-19 related policy actions – implication for investment funds.

On 4 June 2020, ESMA published a “Supervisory briefing on the supervision of costs in UCITS and AIFs” the aim is promoting convergence on the supervision of costs of these financial products.

On 2 June 2020, BCL published on its website an updated of its Non-regulated alternative investment fund registration form.

On 28 May 2020, ESMA published an updated version of its “Questions and Answers on MiFID II and MiFIR investor protection and intermediaries topics”.
A new question has been added in the Inducements section of the document.

On 19 May 2020, the Decree Law adopted by the Italian Government for among others the relaunch of the Italian economy in consequence of the Covid-19 crisis has been published in the Ufficiale Gazette.