On February 20, the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 were published on legislation.gov.uk, together with an explanatory memorandum.
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ESAs Publish Final Report on Amendments to the PRIIPs Key Information Document
Posted in EU Developments, Financial Markets
On February 8, the Joint Committee of European Supervisory Authorities (ESAs) published a final report on proposed amendments to Commission Delegated Regulation (EU) 2017/653 (Delegated Regulation) on key information documents (KIDs) for packaged retail and insurance-based investment produces (PRIIPs).
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ECON Votes To Adopt Draft Reports on Cross-Border Distribution of Collective Investment Funds
Posted in EU Developments, Financial Markets
On December 4, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a press release announcing that it has voted to adopt draft reports on the European Commission’s legislative proposals for a Regulation and a Directive on the cross-border distribution of collective investment funds. ECON initially published the draft reports in September 2018 (for further details, see the September 28 edition of Corporate & Financial Weekly Digest).
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HM Treasury Publishes Draft Brexit Statutory Instruments for Investment Funds and Their Managers
Posted in Brexit/UK Developments, Financial Markets
On October 8, HM Treasury published two draft statutory instruments (SIs), together with explanatory notes, which will make amendments to retained EU law relating to collective investment schemes (CIS) and alternative investment fund managers (AIFMs).
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ECON Publishes Draft Reports on Legislative Proposals for Cross-Border Distribution of Collective Investment Funds
Posted in EU Developments, Financial Markets
On September 21, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published the following draft reports, both dated September 18:
- a draft report on the proposal for a directive on the cross-border distribution of collective investment funds; and
- a draft report on the proposal for a regulation on facilitating cross-border distribution of collective investment funds.
ESMA Updates UCITS and AIFMD Q&As
Posted in EU Developments, Financial Markets
On July 23, the European Securities and Markets Authority (ESMA) issued a press release announcing updates to two of its sets of Questions and Answers (Q&As): (1) Q&As relating to the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive; and (2) those relating to the Alternative Investment Fund Managers Directive (AIFMD).
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ESMA Unveils One-Stop Company Portal for Information on EU Authorization
Posted in EU Developments, Financial Markets
On May 7, the European Securities and Markets Authority (ESMA) announced a new portal for investors seeking information on whether a financial services provider is authorized within the European Union. The portal includes registers of the following:
- Markets in Financial Instruments Directive (MiFID) investment firms, including systematic internalizers;
- MiFID trading venues;
- MiFID data reporting service
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EC Legislative Proposals on Cross-Border Distribution of Collective Investment Funds
Posted in EU Developments, Financial Markets
On March 12, as part of the development of the EU’s Capital Markets Union (CMU), the European Commission (EC) published two legislative proposals in relation to the cross-border distribution of collective investment funds within the EU:
- a Regulation (Proposed Regulation) facilitating the above and amending existing Regulations on European venture capital funds and European social entrepreneurship funds; and
- a Directive (Proposed Directive) amending the Undertakings for Collective Investment in Transferable Securities (UCITS) IV Directive and the Alternative Investment Fund Managers Directive (AIFMD).
ESMA Updates UCITS and AIFMD Q&As
By Neil Robson on
Posted in EU Developments
On October 5, the European Securities and Markets Authority (ESMA) updated two question and answer documents: one relating to the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS) and the other relating to the Alternative Investment Fund Managers Directive (AIFMD).
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European Commission Publishes CMU Report on National Barriers to Capital Flows
By Nathaniel Lalone & Neil Robson on
Posted in EU Developments, Financial Markets
On February 27, the European Commission (EC) published a report (Report) on its capital markets union (CMU) initiative addressing national barriers to capital flows. The Report sets out the initial findings of the EC’s group of representatives of member states on national barriers to cross-border capital flows and the steps that the EC expects member states to take to address them.
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