Tue, Feb 22, 2022

AMF and CSSF Regulatory Update—Fourth Quarter 2021

The Financial Services Compliance and Regulation practice of Kroll provides updates from the French financial regulator Autorité des marchés financiers (AMF) and Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) for asset managers during Q4 2021.

AMF Updates—December

  • AMF Sanctions a Financial Investment Advice Company and Its Director for Breaches of Professional Obligations
  • Sustainable Finance Regulation: AFG Report on the Taxonomy Regulation and SFDR RTSs
  • AMF Publishes a Guide on Filing and Disseminating Regulated Information
  • AFG Publishes a Position Paper Calling for the Adoption of a Cross-Functional and Coordinated Approach to Financial and ESG Data Providers Operating in the EU
  • AMF, ASPIM and AFG Publish a Guide on the Application of Level 1 of the Taxonomy/Real Estate Fund Regulation
  • ESMA Publishes 2021 ESEF XBRL Taxonomy Files and ESEF Conformance Suite
  • The Paris Public Prosecutor’s Office, AMF, ACPR, and DGCCRF Actively Cooperate in the Fight against Financial Scams
  • 11 ASPIM Proposals for the Non-Listed Real Estate Investment Sector
  • Statement on Transfer of Competences and Duties Relating to Certain DRSPs from NCAs to ESMA
  • ESMA Issues Statement on Supervision of the CO and DTO Following the Benchmark Transition
  • Report on Climate Issues: AMF Publishes Report Supporting Companies Preparing for Strengthening Regulatory Requirements
  • ESMA Updates Four Sets of Q&As
  • Transaction Settlement Discipline: Supervisory Approach to Implementation of CSDR Measures
  • ACPR and AMF Publish Report on the Climate Commitments of Market Actors
  • Data Breach: CNIL Fines SLIMPAY EUR 180,000

AMF Updates—November

  • Joint EBA-ESMA Guidelines on the Assessment of the Suitability of Members of the Management Body and Key Function Holders
  • European Commission Launches a Consultation on Corporate Reporting
  • ESMA Proposes Changes to the Scope of the CO and DTO for the Benchmark Transition
  • ESMA Seeks Investor Protection and Intermediaries Experts for Stakeholder Panel
  • ESMA Launches Public Consultations on Central Counterparty Resolution Regime
  • ESMA and the EBA Consult on Framework for the Supervisory Review and Evaluation Process of Investment Firms
  • ESMA Consults on Public Consultations on Central Counterparty Investment Practices for Highly Liquid Financial Instruments
  • European Commission Launches a Public Consultation on Public Capital Markets and Access to Capital for SMEs
  • ESMA Seeks Input on EMIR Clearing Threshold Framework
  • ESMA Publishes Its 2020 Annual Report on EU Market Abuse Sanctions
  • Combating ML/TF: AMF Applies EBA Guidelines on Risk Factors
  • EIOPA, ESMA and the EBA Submit Draft RTSs under the SFDR
  • ESMA Continues to See Risk of Market Corrections amid Elevated Valuations
  • Format and Procedures for Filing AFRs and URD Equivalents of AFRs as of January 1, 2022

AMF Updates—October

  • The AMF Will Apply ESMA’s Guidance on Advertising in Line with the EU’s Regulation on Cross-Border Distribution by Collective Investment Schemes
  • AMF and ECB Sign Cooperation Agreement Relating to Supervision
  • Decision of September 16, 2021, Certifying Modifications to the AMF General Regulation
  • New Economic Classification of SCPI and OPCI
  • Market Data: The AMF Applies ESMA’s Guidance
  • Protection of Investors: The AMF Publishes a Summary of Lessons Following SPOT Controls on Governance of Financial Instruments
  • ESMA Proposes New Rules for Taxonomy Regulation–Related Product Disclosure
  • Loan Grant: The AMF Publishes Lessons from Its Controls of Six Asset Management Companies
  • ESMA Publishes Statement on Investment Recommendations Made on Social Media
  • Extra-financial Reporting 2021: The AMF Encourages Listed Companies to Implement ESMA’s Recommendations

CSSF Updates

  • CSSF: Circular CSSF 21/785,  Material IT Outsourcing
  • CSSF: Circular CSSF 21/786, FATF Statements (Repealing Circular CSSF 21/775 of July 5, 2021)
  • CSSF: FAQ on Virtual Assets
  • Taxonomy Regulation: Communication on Regulatory Requirements and Fast-Track Procedure
  • CSSF: 2021 Survey Related to the Fight Against ML/TF
  • CSSF: FAQ Concerning the Luxembourg Law of December 17, 2010, Relating to UCITS
  • CSSF: Publication of Circulars CSSF 21/788, 21/789 and 21/790 Concerning IFMs and UCIs

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