The AMF, the French Financial Market Authority expressed its support in 2022 for the generalisation of the three liquidity management tools: Gates, Swing Pricing and Anti-Dilution Levies (ADL). On 24 November 2022, the AMF, following October’s update of its DOC-2017-05 policy on Gates, published another update on the introduction of Swing Pricing or ADL...

Let's take advantage of the end of the year to look back at the 2022 regulatory developments. The year was marked by some progress, much debate and some delays. Let's take a closer look at this regulatory news with a major theme: ESG for all.

For several years now, asset management companies have sought to diversify their investor targets by looking to new and more open markets than just the clientele of businesses and asset owners.

At the end of October 2022, we celebrated the 14th anniversary of the Bitcoin white paper, signed by a certain Satoshi Nakamoto. Bitcoin and the cryptocurrencies that followed its release were designed to serve as a payment method. Their development and their promise of return have distanced them from their primary goal by making them attractive as speculative...

As part of its sustainable finance action plan with the publication and entry into force of two major regulations (SFDR, EU Regulation 2019/2088, and Framework Regulation, EU Regulation 2020/852, known as the Taxonomy Regulation), the European Commission has had to make changes to other regulations in order to take account of sustainability factors.

On May 22, 2020, the bill adopted by the French National Assembly for the creation of a single currency in West Africa followed the monetary cooperation agreement signed on December 21, 2019 between France and the Member States of WAEMU* (West African Economic and Monetary Union). This agreement aimed in particular to reform and modernise the functioning of...

On 24 November 2022, the AMF (Autorité des Marchés Financiers), following October’s update of its DOC-2017-05 policy on Gates, published another update relative to the introduction of swing pricing or acquired adjustable rights mechanisms.

Societe Generale, through its subsidiary in the Czech Republic Komercni Banka (KB) is anticipating the monumental succession planning needs of a third of Czech companies who are expected to change ownership in the coming years*. Based on the new law in the Czech Civil Code, KB Private Banking proposes since 2022 a new ‘Trust’ structure in its range of...

The SFDR technical standards apply from 1 January 2023.

Societe Generale Securities Services (SGSS), keen to help our clients to be ESG-conscious when investing on the Polish market.

In the context of the entry into application on 1 January 2023 of new transparency requirements for the non-financial approaches of UCITS and AIF managers, the AMF amended on 10 November 2022 its policy on the investor letters.

Mathieu Maurier, CEO of Societe Generale Securities Services (SGSS) in Luxembourg, addresses the challenges facing the asset servicing business in Luxembourg. He believes that just as his own teams are conducting many transformational projects, the Luxembourg fund industry needs to rethink its own operational model. To maintain its position as world leader it...

The TARGET consolidation project, which aims to merge the technical platforms of Target 2 and Target 2 Securities* in order to optimise liquidity management across all TARGET services, is rescheduled from 21 November 2022 to 20 March 2023.

On 17 March, the European Commission (EC) has published its proposal for a revision of the CSDR Regulation*, which dealt in particular with the buy-in obligation. The EC draft has since been in the hands of the Council and Parliament: Each institution has to decide on the content and on the amendments to be made.

Between 1 January 2021 and 30 October 2021*, the market capitalisation of cryptocurrencies tripled. That's when Bitcoin surpassed the famous $60,000 threshold. Unfortunately, the first eight months of 2022 wiped out this dramatic rise. The recent "incident" on the Terra Luna stablecoin, and even the difficulties of certain players in the ecosystem, have...