Category Archives: Fund Regulation

EUROPE: ESMA Publishes its First Review Reports on the MiFIR Transparency Regime

On 16th July 2020, the European Securities and Markets Authority (ESMA) published two final Reports reviewing key provisions of the MiFID II/MiFIR transparency regime. First Report: It reviews the MiFIR transparency regime…

EUROPE: Withdrawal of the UK and EU Rules – Markets in Financial Instruments

The European Commission published a notice to stakeholders regarding the withdrawal of the UK and EU rules in the field of markets in financial instruments. Since 1 February 2020, the…

IRELAND: CBI – ESMA Guidelines on Liquidity Stress Testing in UCITS and AIFs

On 13th July 2020, the Central Bank of Ireland (CBI) published a notice of intention in relation to the application of the ESMA Guidelines on liquidity stress testing in UCITS and…

EUROPE: ESMA – SFTR Reporting Regime – Next Steps

On 13th July 2020, the European Securities and Markets Authority (ESMA) received reports from trade repositories (TRs) indicating that the first day of reporting by financial and no-financial market participants under…

LUXEMBOURG: Launch of the ESMA supervisory exercise in relation to the ESRB Recommendation on Liquidity Risk in Investment Funds – CSSF

On 10th July 2020, the Commission de Surveillance du Secteur Financier (CSSF) published an article announcing the launch of the ESMA supervisory exercise in relation to the ESRB Recommendation on Liquidity…

EUROPE: ESMA publishes Guidelines on Securitisation Repository Data Completeness and Consistency Thresholds

On 10th July 2020, the European Securities and Markets Authority (ESMA) published its final report on the Guidelines on securitisation repository data completeness and consistency thresholds. The Guidelines provide clarity for market…

EUROPE: ESMA Consults on Guidelines on Calculation of Positions under SFTR

On 09th July 2020, the European Securities and Markets Authority (ESMA) launched a consultation on draft Guidelines on the calculation of positions by Trade Repositories (TRs) under the Securities Financing Transactions Regulation (SFTR). The aim…

EUROPE: ESMA Clarifies External Support within the Meaning of Article 35 of the MMF Regulation

On 09th July 2020, the European Securities and Markets Authority (ESMA) published a public statement  on external support under Article 35 of the Money Market Funds (MMF) Regulation. ESMA is issuing this statement in the…

IRELAND: Beneficial Ownership of Certain Financial Vehicles Regulations 2020

The Irish government has introduced legislation which designates the Central Bank of Ireland as the registrar of beneficial ownership for certain collective investment funds. Beneficial Owner Definition A ‘beneficial owner’ is a…

EUROPE: Postponement of Entry into Application of MIFIR Open Access Provisions with Regard to Exchange-Traded Derivatives

The European Commission (EC) published a notice of information on postponement of entry into application of MiFIR open access provisions with regard to exchange-traded derivatives.  Article 54(2) of Regulation (EU) No 600/2014 of the European…