ESMA, AMF and CSSF Regulatory Update—First Quarter 2022

AMF Updates—March

• Impacts of the Ukrainian Crisis on Asset Management Companies

• Sanction: The AMF Enforcement Committee Fined a Media Company and Its Director for Conflicts of Interests and Price Manipulation

• ESMA: Peer Review on Supervision of Cross-Border Activities of Investment Firms

• AMF: Modification of the FRA-RAC Questionnaire for 2021

• The AMF Updates Its Doctrine on The Risk Management System and Program of Activities for Asset Managers

• EU: Entry into Force of the Transitional Regime of the PRIIPs Regulation for UCIS

• FinDatEx Published ESG Templates

• ESMA Sanctioned a Leading European Trade Repository for Breaches of the EU Market Infrastructure Regulation EMIR

• EU: Updated Statement of the Supervisory Authorities on Sustainability (SFDR and Taxonomy Regulations)

• ESMA Publishes Its Final Report on the EU Carbon Market (Emission Allowances and Associated Derivatives)

• AMF: The Application of the EU Regulation on Short Selling

AMF Updates—February

• AMF: Update of Its Policy on Marketing Communications for Collective Investment Schemes

• ESMA’s Supervisory Briefing on Supervisory Expectations in Relation to Firms Using Tied Agents in the MiFID 2 Framework

• ESMA: Launch of Common Supervisory Action With National Competent Authorities on Disclosure of Costs and Fees Under MiFID 2

• The AMF Launches a Public Consultation on Liquidity Management Tools for Fund Managers

• The Platform on Sustainable Finance Published Its Report on a Social Taxonomy

AMF Update—January

• AMF: The Enforcement Committee Fines an Asset Management Company 

• ESMA: Publication of Its Guidance on Appropriateness and Execution-Only Requirements (MiFID 2)

• AMF: Publication of Its Priorities for 2022

• AMF Published 2020 Key Figures for Asset Management 

• ESMA Launches a Common Supervisory Action With National Competent Authorities on the Valuation of UCITS and Open-Ended AIFs in the EU

• Good Practice Regarding Accreditation and ESG Aspects

• ESMA: Consultation on ESG Under MiFID 2

• AMF: Update of Its Policy on Funds That Use Total Return Swaps (TRS) and Extra-Financial Criteria

CSSF Updates

• European Commission Adopted a Delegated Regulation that Amends the List of High-Risk Third Countries with Strategic Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Deficiencies

• CSSF—2021 Survey Related to the Fight Against Money Laundering and Terrorist Financing

• Circular CSSF 22/795—Application of The ESMA Guidelines on Marketing Communications (ESMA34-45-1272) Under the Regulation on Facilitating the Cross-Border Distribution of Collective Investment Undertakings