!css

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.

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...
Nov
2016
Vatel Capital appoints SGSS to provide custody, depositary bank and valuation services
Introduced by the Finance Law in 2007, FIP Corse is a local investment fund of which 70% of its assets are invested in...
SGSS
Introduced by the Finance Law in 2007, FIP Corse is a local investment fund of which 70% of its assets are invested in small and medium-size enterprises on the French island of Corsica. The purpose of FIP Kallisté Capital n°9 is to invest in Corsican SMEs whose main activities are in the tourism, renewable energy, health and dependency, agro-food or business...
en/newsroom/news/news/news/vatel-capital-retient-sgss-pour-fournir-des-services-conservation-banque-depositaire-valorisation/
Nov
2016
SFIL appoints SGSS for global custody services
SFIL, the leading French local public sector and export financing agency, and CAFFIL, a French specialized credit...
SGSS
SFIL, the leading French local public sector and export financing agency, and CAFFIL, a French specialized credit institution (société de crédit foncier), have mandated Societe Generale Securities Services (SGSS) to provide global custody services for their public sector assets in Europe. This extends an existing mandate for valuation services with SFIL in...
en/newsroom/news/news/news/sfil-appoints-sgss-for-global-custody-services/
Nov
2016
Eurotunnel retains SGSS for its issuer services
Eurotunnel has appointed Societe Generale Securities Services (SGSS) to provide shareholder services which include share...
SGSS
Eurotunnel has appointed Societe Generale Securities Services (SGSS) to provide shareholder services which include share registry services, centralised financial services and shareholder meeting services for its 27,000 registered shareholders in France and the United Kingdom.
en/newsroom/news/news/news/eurotunnel-retains-sgss-for-its-issuer-services/
Nov
2016
Quarterly Financial Information
Q3 16: Sound Commercial And Financial Performance
Oct
2016
Societe Generale Securities Services strengthens its teams in India and Poland
Societe Generale Securities Services (SGSS) announces the following appointments: David Jaegly has been appointed...
Sep
2016
SGSS appoints new Global Head of Sub-Custody Network Management
Societe Generale Securities Services (SGSS) has appointed Massimiliano Notarianni as Global Head of Sub-Custody Network...
Sep
2016
SGSS mandated by KELER, the Hungarian central securities depository
Societe Generale Securities Services (SGSS) has been mandated by KELER, the Hungarian central securities depository, to...
Sep
2016
Societe Generale present at Sibos 2016
Societe Generale is exhibiting at SIBOS 2016 in Geneva this year, from 26 to 29 September, to showcase its broad range...