Podcast: ESMA Report: Undue Pressure on Companies
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more
Welcome to the January – March 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter under...more
1.1 ESMA UCITS Q&A updates On 20 July 2022, ESMA published an updated version of its UCITS Q&As with the following new Q&As: Section X: Depository – new Q&As 7 and 8 on reconciliations; and - • Section XIII: Delegation...more
The European Commission Opens Investigation into an Allegedly Anticompetitive Agreement Between Two Global Tech Companies Active in Online Display Advertising Services - On 11 March 2022, the European Commission (Commission)...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. 28 February - The Financial Conduct Authority (“FCA”) published Handbook Notice...more
Regulation on cross-border distribution of investment funds: Commission Implementing Regulation laying down ITS Commission Implementing Regulation (EU) 2021/955 laying down implementing technical standards (ITS) produced...more
Our weekly update on key regulatory topics affecting the financial services sector....more
ANTITRUST AND COMPETITION - The Commission’s New Guidance Creates Legal Uncertainty for Merger Control in the EU - On 26 March 2021, the Commission published a new Guidance on the application of the EU upward case referral...more
Liquidity management in UK open-ended funds: BoE and FCA report - The Bank of England (BoE) and the Financial Conduct Authority (FCA) have published a report on liquidity management in UK open-ended funds. The report...more
Selected regulatory updates of interest to the funds and asset management sector. This edition reports on UCITS liquidity risk management and the EU MMF Regulation. ...more
MMF Regulation: ESMA updates reporting instructions - The European Securities and Markets Authority (ESMA) has announced that it has updated its validation rules regarding the EU Regulation on money market funds (MMF...more
ESMA guidelines on liquidity stress testing in UCITS and AIFs: FCA comment - Among other things covered in its latest Regulation round-up, the UK Financial Conduct Authority (FCA) comments on the European Securities and...more
The European Securities and Markets Authority has published a statement confirming that the 2019 Guidelines on stress test scenarios under the Money Market Funds Regulation will be updated by the end of 2020 to reflect...more
The Prudential Regulation Authority (“PRA”) published a statement announcing that it intends to terminate, with effect from 30 September 2020, the temporary approach to value-at-risk (VAR) back-testing exceptions it announced...more
Role of investment managers in post-COVID-19 recovery: FCA speech - The UK Financial Conduct Authority (FCA) has published a speech by Christopher Woolard, FCA Interim Chief Executive, on the role of investment managers in...more
Recent regulatory developments of interest to the funds and asset management sector. Other key updates are included in our Financial institutions general regulatory news in the related materials margin....more
The European Securities and Markets Authority has published, in an economic report, a stress simulation framework for investment funds, which is intended for use by national regulators...more
Following its consultation in late 2018, the European Securities and Markets Authority has published final reports and updated guidelines on stress testing money market funds and the requirements imposed upon MMFs to report...more
Money Market Funds - The AMF published a guide describing the main impacts of the application of the MMF Regulation, as well as the details of the authorization procedures specific to such money market funds, notably...more
The European Securities and Markets Authority has launched a consultation on proposed Guidelines for Money Market Fund Managers, to assist them in complying with their obligations, under the Money Market Funds Regulation, to...more
The European Securities and Markets Authority has opened a consultation on proposed updates to the Guidelines on stress test scenarios for Money Market Funds under the Money Market Fund Regulation. The MMF Regulation has...more
Grand Ducal Regulation on CSSF fees published - The Grand Ducal Regulation of 2 July 2018 amending the Grand Ducal Regulation of 21 December 2017 on fees levied by the Commission de Surveillance du Secteur Financier....more
MIFID II – end of “no LEI” exemption for transaction reporting; ESMA takes stock of MiFID II achievements - ESMA confirmed on 20 June that the current exemption from using Legal Entity Identifiers for certain transactions...more
MiFID II update - The Autorité des Marchés Financiers continues to update its doctrine following the entry into force of MiFID II. As a result, on 26 June, the AMF published updated versions of 14 of its positions,...more