FRANCE: AMF Position Regarding the AIFMD Review
Ahead of the AIFMD’s review and in-line with the AMF’s response to the consultation of the European Commission, the AMF has outlined its recommendations for a more effective supervision of…
FRANCE: AMF Update Policy on Performance Fees
After incorporating the ESMA’s guidelines on performance fees in UCITS and certain types of AIFs (ESMA34-39-992) into its new position DOC-2021-01, the AMF has updated its policy on UCITS and…
UNITED STATES: SEC Division of Examinations Announces 2021 Examination Priorities
The Securities and Exchange Commission’s Division of Examinations announced its 2021 examination priorities, including a greater focus on climate-related risks. The Division will also focus on conflicts of interest for…
FRANCE: Thematic Inspections on the Suitability of the Financial Instruments Recommended to Retail Clients
The Autorité des Marchés Financiers (AMF) has published the summary of its short thematic inspections on the suitability of the financial instruments recommended to retail clients. The AMF has analysed…
LUXEMBOURG: Application of Regulation (EU) 2019/2088 on the Sustainability-Related Disclosures
The Commission de Surveillance du Secteur Financier (CSSF) has published a circular on the Supervisory Statement of the Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – hereinafter referred…
UNITED STATES: NFA Compliance Rule 2-50: CPO Notice Filing Requirements
On 5th March 2021, the National Futures Association (NFA) adopted Compliance Rule 2-50 and a related Interpretive Notice to require that CPO Members notify NFA when a commodity pool operated by…
IRELAND: ESRB ESMA Liquidity Risk Project
On 10th March 2021, the Central Bank of Ireland (CBI) wrote a letter to Fund Management Companies on ESMA ESRB liquidity Project. These communications were written in the context of Brexit…
FRANCE: AMF Guide to the Monitoring of Collective Investment Undertakings
The AMF have published Position – Recommendation DOC-2011-25. The guide provides a reminder of how certain aspects of the regulations governing CIS should be applied, such as control procedures, maturity…
UNITED STATES: SEC Announces Enforcement Task Force Focused on Climate and ESG Issues
The Securities and Exchange Commission (SEC) has announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly…
INTERNATIONAL: IOSCO Launches Thematic Review of the Recommendations for Liquidity Risk Management for Collective Investment Schemes
On 5th March 2021, IOSCO launched its Thematic Review of the Recommendations for Liquidity Risk Management for Collective Investment Schemes issued by IOSCO in 2018. The Recommendations are meant to ensure that liquidity…