A closer look at …the political agreement on monetary funds

Regulatory News - from August 2016 to November 2016

Tutti International and European news National news
Postponement of PRIIPS regulation until 1 january 2018
On 9 November 2016, the European Commission (EC) has issued a proposal of a Regulation – “quick fix” – to extend the...
International and European news
On 9 November 2016, the European Commission (EC) has issued a proposal of a Regulation – “quick fix” – to extend the date of entry in force of the PRIIPS Regulation by one year.
it/newsroom/news/comunicati-stampa/news/mifid-mifir-regulation/
Commission presents amendments to CRR, CRDIV, BRRD and SRMR
On 23 November 2016, the European Commission has presented a comprehensive package of reforms to further strengthen the...
International and European news
On 23 November 2016, the European Commission has presented a comprehensive package of reforms to further strengthen the resilience of EU banks.
it/newsroom/news/comunicati-stampa/news/emir-launch-the-central-clearing-obligation/
Political agreement on Money Market Funds Regulation
On 14 November 2016, the European Commission, the European Council and the European Parliament stroke a provisional...
International and European news
On 14 November 2016, the European Commission, the European Council and the European Parliament stroke a provisional political agreement on the EU regulation on Money Market Funds (MMFs), after three years of negotiations.
it/newsroom/news/comunicati-stampa/news/emir-cooperation-arrangements-between-esma-and-cftc/
Minimum set of information to be kept on financial contracts
The European Commission's Delegated Regulation (EU) 2016/1712 supplementing Directive 2014/59/EU establishing a...
International and European news
The European Commission's Delegated Regulation (EU) 2016/1712 supplementing Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms was published in the Official Journal of the European Union on 24 September 2016.
it/newsroom/news/comunicati-stampa/news/european-commission-adopts-delegated-acts-priips-regulation/
Exchange of margins for non-cleared OTC derivative contracts
On 4 October 2016 ESMA published a delegated regulation supplementing EMIR with regulatory technical standards on risk...
International and European news
On 4 October 2016 ESMA published a delegated regulation supplementing EMIR with regulatory technical standards on risk mitigation techniques for OTC derivative contracts not cleared by a central counterparty.
it/newsroom/news/comunicati-stampa/news/benchmarks-regulation-published-the-official-journal/
European Commission adopts CSDR level 2 legislative acts

On 11 November 2016, the European Commission has adopted a package of six legislative acts to implement specific...
International and European news
On 11 November 2016, the European Commission has adopted a package of six legislative acts to implement specific provisions of the Regulation on improving securities settlement and regulating central securities depositories (CSDs) (Regulation CSDR)), consisting of a Commission Delegated Act, three regulatory technical standards (RTS) and two implementing...
it/newsroom/news/comunicati-stampa/news/esmaes-advice-the-extension-aifmd-passport/
IOSCO Good Practice for Fund Fees and Expenses
On 25 August 2016, the Board of the International Organization of Securities Commissions (IOSCO) published a final...
International and European news
On 25 August 2016, the Board of the International Organization of Securities Commissions (IOSCO) published a final report (Report) on good practices for fees and expenses of collective investment schemes (CISs).
it/newsroom/news/comunicati-stampa/news/esma-final-report-draft-rts-under-the-eltif-regulation/
ESMA guidelines on remuneration practices under UCITS and AIFMD
On 14 October 16 ESMA published two sets of Guidelines on sound remuneration under UCITS and AIFMD. The UCITS...
International and European news
On 14 October 16 ESMA published two sets of Guidelines on sound remuneration under UCITS and AIFMD. The UCITS Remuneration Guidelines provide clarity on the requirements under the UCITS Directive for management companies when establishing and applying a remuneration policy for key staff.
it/newsroom/news/comunicati-stampa/news/esma-opinion-european-framework-for-loan-origination-funds/
Compromise proposals to amend EuVECA and EuSEF Regulations
Following the initial proposal of the Commission on 14 July 2016, four compromise proposals ( the last dated 28 november...
International and European news
Following the initial proposal of the Commission on 14 July 2016, four compromise proposals ( the last dated 28 november 2016) have been subsequently issued by the Council to amend the European Venture Capital Funds Regulation (EuVECA Regulation) and the European Social Entrepreneurship Funds Regulation (EuSEF Regulation).
it/newsroom/news/comunicati-stampa/news/proposed-modification-the-euveca-and-eusef-regulations/
FR - Adoption of the French law on transparency and the fight against corruption
On 8 November 2016, the French National Assembly definitively adopted the bill on transparency, the fight against...
National news
On 8 November 2016, the French National Assembly definitively adopted the bill on transparency, the fight against corruption and the modernisation of the economy, an act known as the "SAPIN II Act".
it/newsroom/news/comunicati-stampa/news/introduction-france-the-concept-epre-marketinge-funds/
FR - Loans granted to businesses by some AIFs
Decree No. 2016-1587 setting down the conditions under which professional specialised funds and professional private...
National news
Decree No. 2016-1587 setting down the conditions under which professional specialised funds and professional private equity funds can provide loans to businesses was published in the French Official Journal on 26 November 2016.
it/newsroom/news/comunicati-stampa/news/loans-granted-businesses-some-aifs/
LU - New Luxembourg circular on UCITS and their depositaries
On 11 October 2016, the CSSF published circular 16/644 on the rules applicable to credit institutions acting as UCITS...
National news
On 11 October 2016, the CSSF published circular 16/644 on the rules applicable to credit institutions acting as UCITS depositaries subject to Part I of the Act of 17 December 2010 on undertakings for collective investment and on all UCITS possibly represented by their management company.
it/newsroom/news/comunicati-stampa/news/adoption-luxembourg-the-law-creating-reserved-alternative-investment-funds/
ES - Withholding tax exemption denied under new anti-abuse rules in Spain
On 22 June 2016, the Spanish tax authorities have released a binding decision on the domestic conditions that must be...
National news
On 22 June 2016, the Spanish tax authorities have released a binding decision on the domestic conditions that must be met to receive the withholding tax (WHT) exemption on dividends paid by a Spanish company to a group company in another Member State, as provided for under the EU Parent Subsidiary Directive (PSD).
it/newsroom/news/comunicati-stampa/news/implementation-the-spanish-market-reform/
IT - Bank of Italy amends new post-issuance reporting obligations
On 10 August 2016, the Bank of Italy partially amended the Italian article 129 on reporting obligations regarding the...
National news
On 10 August 2016, the Bank of Italy partially amended the Italian article 129 on reporting obligations regarding the issuance, offering and placement of financial which were adopted on August 25, 2015 and entered into force on October 1, 2016 with certain obligations, however, being effective as of January 2017.
it/newsroom/news/comunicati-stampa/news/ucits-impact-vni-calculation-italian-depositories/
DE - Launch of New SME Segment by Deutsche Börse
On 21 November 2016, Deutsche Börse has announced the launch of a new exchange segment on 1 March 2017, designed...
National news
On 21 November 2016, Deutsche Börse has announced the launch of a new exchange segment on 1 March 2017, designed specifically for smaller and medium-sized enterprises (SMEs).
it/newsroom/news/comunicati-stampa/news/reform-the-german-investment-tax-act/
PL - New Polish tax law affecting investment funds
On 29 November 2016, enacted tax legislation in Poland revises the corporate income tax rules that apply concerning the...
National news
On 29 November 2016, enacted tax legislation in Poland revises the corporate income tax rules that apply concerning the taxation of investment funds.
it/newsroom/news/comunicati-stampa/news/non-resident-capital-gain-tax-measures-polish-securities-1/
BG - Amendment of Bulgarian Regulation on Payment Services
On 2 September 2016, the Bulgarian National Bank has adopted amendments to its Regulation on “Terms and Procedure for...
National news
On 2 September 2016, the Bulgarian National Bank has adopted amendments to its Regulation on “Terms and Procedure for Execution of Payment Transactions and Use of Payment Instruments” in order to bring the local payment settlement risk mechanisms in line with international and European requirements.
it/newsroom/news/comunicati-stampa/news/amendment-bulgarian-regulation-payment-services/
US - SEC release new rules on liquidity risk management and swing pricing
On 14 October 2016, the U.S. Securities and Exchange Commission (SEC) released new rules on 14 October 2016 on liquidity...
National news
On 14 October 2016, the U.S. Securities and Exchange Commission (SEC) released new rules on 14 October 2016 on liquidity risk management and swing pricing.
it/newsroom/news/comunicati-stampa/news/eus-cftc-issues-final-cross-border-margin-rules-for-uncleared-swapse/
IN - New investment rules in India for Foreign Funds
On 17 November 2016, The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of...
National news
On 17 November 2016, The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, to permit Foreign Portfolio Investor (FPI) investment in unlisted debt securities and securities debt instruments under certain conditions.
it/newsroom/news/comunicati-stampa/news/new-investment-rules-india-for-foreign-funds/