AMF: Update of Its Policy on Marketing Communications for Collective Investment Schemes
February 2, 2022
Following ESMA’s guidance published on August 2, 2021, on marketing communications applicable to UCITS and AIF management companies, the AMF has amended its position recommendation DOC-2011-24. This guide to drafting marketing communications on collective investments and SOFICAs sets out the general principles and best practices firms must implement.
Read the full article here.
ESMA’s Supervisory Briefing on Supervisory Expectations in Relation to Firms Using Tied Agents in the MiFID 2 Framework
February 2, 2022
ESMA further details that firms should avoid appointing a tied agent (a legal or natural person involved in the provision of the activities on behalf of the firm) where they are also at the disposal or under the control of other entities (including entities based in third countries). This includes instances in which natural persons are involved in the provision of activities carried out by a tied agent on behalf of a firm because of arrangements with another entity, such as staff sharing agreements or secondment.
ESMA considers that allowing a tied agent to carry out activities on behalf of a firm by mainly using the resources of another entity, especially a third-country entity, constitutes a serious impediment to the firm’s compliance with MiFID 2.
Read the full article here.
ESMA: Launch of Common Supervisory Action With National Competent Authorities on Disclosure of Costs and Fees Under MiFID 2
February 8, 2022
This common supervisory action led by ESMA aims to assess whether firms are complying with the obligations relating to the publication of information provided to retail investors on the costs and charges associated with the services they provided. It will focus on the information provided to retail customers, including the quality, adequacy and delay in the transmission of information.
Read the full article here.
The AMF Launches a Public Consultation on Liquidity Management Tools for Fund Managers
February 8, 2022
The AMF is launching a public consultation on measures to encourage fund managers to adopt liquidity management tools that would allow them to ensure fair treatment of investors. This proposal aims to (i) rebalance the asymmetry of information that may arise for funds that are not equipped with management tools, (ii) promote the adoption of these tools by existing funds and (iii) hold fund managers accountable for meeting their professional obligations with regards to liquidity risk management.
Read the full article here.
The Platform on Sustainable Finance Published Its Report on a Social Taxonomy
February 28, 2022
In its report, the Platform on Sustainable Finance proposes a framework for a social taxonomy within the current European regulations and standards on finance and sustainable governance (taxonomy regulation, CSRD, SFDR, etc.).
Read the full article here.
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