Per rimanere aggiornati sul panorama normativo, il nostro team Public Affairs pubblica aggiornamenti periodici su questioni normative, sia in fase di discussione che già rilasciate, fornendo un’analisi approfondita del loro impatto.
La sintesi del trimestre precedente consente di rimanere aggiornati in merito alle più recenti novità del settore.
Con SGSS puoi trasformare un vincolo in opportunità.
Analysis of key regulatory and standards initiatives
On-going regulatory initiatives
- AIFM Directive - Alternative Investment Funds Managers Directive
- BMR - Benchmark Regulation
- CBFD - Cross Border Fund Distribution
- CSDR - Central Securities Depositories Regulation
- ELTIFs - European Long-Term Investment Funds
- EMIR Regulation - European Market Infrastructure Regulation/Derivative Products
- ESAP - European Single Access Point Regulation
- EuVECA/EuSEF - Venture capital funds and social entrepreneurship funds
- IORP - Institutions for Occupational Retirement Provision
- MIFID II/MIFIR - Markets in Financial Instruments Directive & Regulation
- MMFR - Money market funds Regulation
- Pilot Regime - Transitional regulatory framework to test the use of DLTs
- PRIIPs Regulation - Packaged Retail and Insurance-based Investment Products
- Recovery & Resolution (for non banks)
- SFDR/Taxonomy - Green Finance Regulation
- SRD - Shareholder Rights Directive
- UCITS V Directive - Undertakings for Collective Investment in Transferable Securities
Other regulatory initiatives
- Collateral Directive
- Dodd-Frank Wall Street Reform and Consumer Protection Act (Title VII)
- FATCA - Foreign Account Tax Compliance Act
- Finality Directive
- FTT - Financial Transaction Tax (France)
- LEI - Legal Entity Identifier CFTC Interim Compliant Identifier (CICI)
- MIFID I - Markets in Financial Instruments Directive I
- SFT - Securities Financing Transactions Regulation
- Shadow Banking
- Short selling - Regulation on Short selling and certain aspects of credit default swaps
- Solvency II Directive
- T2SProject - Target 2 Securities Project - CSD Settlement & Delivery Platform
- Harmonising settlement cycles at T+2
- UCITS I-IV Directive - Undertakings for Collective Investments in Transferable Securities I-IV
Quarterly regulatory overview
Fund liquidity risk management: a challenge for Asset Managers
In response to the AMF's requirements concerning liquidity management tools, Societe Generale Securities Services (SGSS)...
ELTIF 2: Opportunities to grasp for Asset Managers and investors
The new European Long-Term Investment Funds regulation (ELTIF 2 or ELTIF review) becomes applicable on 10 January 2024. ...
Come rafforzare i diritti degli azionisti?
Shareholders rights directive II è una normativa europea che definisce il set di regole volte a rafforzare i diritti...
ESG – Voluntary vs. Regulatory? Both?
The implementation of sustainable finance and "green" investment objectives is gradual and entails a shift in mindset....
CSDR - SDR: 31 August 2024: End of CCPs' role in collecting penalties
Article 19 of Delegated Regulation 2018/1229 had entrusted CCPs* with the task of collecting (and redistributing) from...
What is the RAIF (Reserved Alternative Investment Fund)?
What is the RAIF? Discover the Reserved Alternative Investment Fund, its features, benefits and how it works.
Modernising Luxembourg's legislative framework for investment funds
A draft law presented in March 2023 by the Luxembourg Ministry of Finance was approved by the Chamber of Deputies on...
New Spanish market reform: all you need to know on the measures and upgrades
The Spanish settlement process will soon undergo another reform; Societe Generale Securities Services Madrid is...
CSDR Refit: The adoption of the text is imminent
The EU Council announced on 27 June that a provisional agreement had been reached between the Parliament and the Council...
L’AMF publie sa synthèse des contrôles SPOT sur le respect des engagements extra-financiers contractuels des sociétés de gestion
(Only available in French) L’Autorité des marchés financiers (AMF) a diligenté une étude et une campagne de contrôles...
Fonds d’épargne salariale : l'AMF modifie sa doctrine concernant l’introduction simplifiée d’outils de gestion de la liquidité
(Only available in French) Dans la continuité des mesures prises en octobre et novembre 2022 pour faciliter...
Equity options and index options: The end of the exemption?
Risk management (and in particular the exchange of initial margins and variation) for derivatives contracts not cleared...
Publication of the MICA regulation
The European MiCA regulation on crypto-asset markets was finally published on June 9, 2023, in the OJ of the European...
Towards a broader model for identifying shareholders and holders in France
The implementation of SRD2 resulted in the replacement of the former shareholder identification process (known as “TPI”)...
The ISO 20022 format has just been adopted for electronic data interchange between financial institutions for Corporate...
Find out all about the Pilot Regime, designed to test the use of distributed ledger technologies (DLT) in market...
Discover "Gates": the liquidity management tool addressing liquidity risk, with Christian de Beaufort, Market...
Discover the AIFM and UCITS Directives latest updates with Marie-Claire de Saint-Exupéry, Senior Advisor Public Affairs...
Watch Jean-Pierre Gomez' interview on RAIF.
Watch Jean-Pierre Gomez' interview on SFDR.
The European settlement Finality Directive is currently under review. What is the original purpose of the directive?...