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IT - UCITS V Impact on VNI calculation by Italian depositories

On 20 May 2016, the Legislative Decree implementing UCITS V directive in Italy and cancelling the so-called "affidamento" regime for NAV calculation of UCITS funds by the depositary under its own responsibility (Legislative Decree n. 71/2016) has been published on the Official Gazette of the Republic of Italy (entry into force of the Legislative Decree: 4 June 2016).

On 20 May 2016, the Legislative Decree implementing UCITS V directive in Italy and cancelling the so-called "affidamento" regime for NAV calculation of UCITS funds by the depositary under its own responsibility (Legislative Decree n. 71/2016) has been published on the Official Gazette of the Republic of Italy (entry into force of the Legislative Decree: 4 June 2016).

On 14 July 2016, Bank of Italy has launched the public consultation (open until 12 September 2016) on amendments to its Regulation of 19 January 2015 which should provide depositaries with clarifications for reaching compliance with the new regulatory environment by the deadline defined at European level with the Regulation n. 2016/438 (i.e. 13 October 2016), except for cancellation of the so-called “affidamento” regime, for which a dedicated transitory period would be fixed by the Authority taking into account market needs.

May
2017
QNB Suisse SA appoints SGSS in Ireland for its pioneer UCITS-compliant umbrella fund
QNB Suisse SA, a subsidiary of Qatar National Bank, has selected SGSS in Ireland to help establish and support QNB...
Fund Distribution Services
QNB Suisse SA, a subsidiary of Qatar National Bank, has selected SGSS in Ireland to help establish and support QNB Global Funds ICAV, its European UCITS-compliant umbrella fund.
en/newsroom/news/news/news/qnb-suisse-appoints-sgss-ireland-for-its-pioneer-ucits-compliant-umbrella-fund/
May
2017
French national pension fund for the self-employed appoints Societe Generale Securities Services for custody services
Following a public tender, CNAVPL*, the French national pension fund for self-employed professionals, representing a...
Apr
2017
SGSS innovates with Euronext to provide a new fund investment solution
SGSS is contributing to an innovative model, Euronext Fund Service, to facilitate investments in funds for domestic and...
Fund Administration and Asset Servicing
SGSS is contributing to an innovative model, Euronext Fund Service, to facilitate investments in funds for domestic and international investors.
en/newsroom/news/news/news/sgss-innovates-with-euronext-provide-new-fund-investment-solution/
Apr
2017
Fighting poverty and striving for women empowerment
Mar
2017
SGSS strengthens its coverage team across Southern Europe
SGSS has appointed Lucrezia Brucoli as Head of Coverage to support business development across Southern Europe.
Appointments
SGSS has appointed Lucrezia Brucoli as Head of Coverage to support business development across Southern Europe.
en/newsroom/news/news/news/sgss-strengthens-its-coverage-team-across-southern-europe/
Feb
2017
Quarterly Financial Information
2016: HEALTHY GROWTH IN GROUP NET INCOME
Results
2016: HEALTHY GROWTH IN GROUP NET INCOME
en/newsroom/news/news/news/quarterly-financial-information-2/
Jan
2017
SGSS in Italy launches Synapse, a new service to support fund distribution
Societe Generale Securities Services in Italy (SGSS S.p.A.) launches SYNAPSE, a new service to support fund distribution...
Jan
2017
SGSS strengthens its Coverage, Marketing and Solutions team
SGSS has appointed Matthew Davey as Managing Director and Head of Business Solutions to reinforce its service offering...
Appointments
SGSS has appointed Matthew Davey as Managing Director and Head of Business Solutions to reinforce its service offering for institutional investors, asset managers, financial intermediaries and corporates.
en/newsroom/news/news/news/sgss-strengthens-its-coverage-marketing-and-solutions-team/
Dec
2016
Altana Wealth Limited selects SGSS in Ireland for its UCITS fund structure
Altana Wealth Limited in the United Kingdom has appointed Societe Generale Securities Services (SGSS) in Ireland to...