LUXEMBOURG: CSSF Statement on Long Form Reports
The CSSF has released a statement of Long Form Reports. Given the impact of COVID-19 on audited entities and funds, as well as on the auditors, the CSSF has decided…
UNITED STATES: CFTC Extensions of CPO Filing Deadlines
The Commodity Futures Trading Commission (CFTC) has announced that in response to the COVID-19 (coronavirus) pandemic, the Division of Swap Dealer and Intermediary Oversight (DSIO) has issued two additional no-action…
EUROPE: EIOPA issues Recommendations Regarding Deadlines on Solvency and Financial Condition Report
The European Insurance and Occupational Pensions Authority (EIOPA) has issued Recommendations addressed to national competent authorities on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure in light of the…
LUXEMBOURG: CSSF Updates FAQs on Swing Pricing Mechanism
The Commission de Surveillance du Secteur Financier (CSSF) has received questions from industry participants in relation to the application of the swing pricing mechanism by investment funds. The following questions…
UNITED KINGDOM: Open-Ended Funds Investing in Less Liquid Assets
The Financial Conduct Authority has published a speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy, to Investment Association members. In the speech Mr Schooling discusses open-ended funds…
UNITED STATES: Federal Bank Regulatory Agencies Issue Interim Final Rule for Money Market Liquidity Facility
On 19th March 2020, the federal bank regulatory agencies announced an interim final rule to ensure that financial institutions will be able to effectively use a liquidity facility recently launched by…
EUROPE: ESMA Sets Out Approach to SFTR Implementation
On 19th March 2020, the European Securities and Markets Authority (ESMA) issued a Public Statement to ensure coordinated supervisory actions on the application of Securities Finance Transactions Regulation (SFTR), in particular, on the…
UNITED STATES: SEC Grants Exemptions for Form ADV And Form PF Filing
The Securities and Exchange Commission (SEC) announced that due to outbreak of coronavirus disease 2019 (COVID-19), investment advisers may face challenges in timely satisfying provisions of the Investment Advisers Act…
UNITED STATES: SIFMA Supports Proposed Changes to the Volcker Rule
On 11th March 2020, SIFMA filed a comment letter on the proposed revisions to the Volcker Rule issued in January 2020. SIFMA strongly supports the proposing Agencies’ efforts to improve and streamline…
EUROPE: ESMA Consults on MiFIR Transparency Regime for Non-Equity Instruments
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, launched a Consultation Paper (CP) reviewing the transparency regime for non-equity instruments and the trading obligation for derivatives under the…