The European Commission has submitted to the public a consultation on 11 October 2019 in accordance with the Benchmark Regulation, art. 54 that stipulates that the European Commission will review and provide a report to the Parliament and the Council by January 1st, 2020.
On October 11, 2019, the Commission de Surveillance du Secteur Financier published a communication related to the mandatory notification to be submitted to the CSSF by UK fund managers in the context of Brexit. The communication includes two annexed documents dedicated to both UK AIFMs of Luxembourg AIFs which have not yet submitted their notification and UK managers which already have done so.
On October 11, 2019, the Financial Conduct Authority published on its website some updates on the Temporary Permissions Regime (“TPR”). The updates relate to the addition of new EEA sub-funds to the regime after exit day and to the considerations to be taken into account by TPR firms and funds as part of the authorization process after exit day.
On September 27, 2019, the Dutch Authority for Financial Markets (“AFM”) published an updated fee in relation to the initial notification of AIFs schemes for distribution in the Netherlands.
Central Bank of Luxembourg has published an amended version of its Compendium of verification rules for the Security by Security reporting (SBS) of investment funds.
The new version dated September 2019 has introduced new verification rules between the BCL Security By Security reporting (SBS) and the CSSF monthly reporting (U1.1).
On September 26, 2019, the Dutch supervisory authorities for financial markets (AFM) published its new AIFM Q&A, in which there is an updated fee in relation to the initial notification of AIFMs for distribution in the Netherlands.