ESMA Updates Q&A on AIFMD
Published July 4th, 2019
On 4 June 2019, ESMA has published an updated version of its Q&A document on the application of AIFMD. The Q&A document provides responses to questions posed by the general public and competent authorities in relation to the practical application of the AFIDM. Highlights of the updated version includes Q&A regarding the distinction between depositary functions and supporting tasks, delegation of safekeeping functions, performance and supervision of depositary functions in case of branches in other member states and delegation of depositary functions to another legal entity within the same group.
Find the updated version here.
Guidance Signal Excluding Certain Alternative Investment Funds from VAT Exemption on Management Fees is Adopted by the Danish Tax Agency
On 7 November 2019 the Danish Tax Agency presented its guidance signal concerning the rules on VAT exemption for management fees for management of investment undertakings.Danish RegulationManagement Remuneration
On 6 November 2019 the Danish government presented its proposal to transpose the EU directive regarding mandatory reporting in relation to arrangements with cross-border implications (“DAC6”) into Danish law.ComplianceDAC6Disclosure Requirements
ESA issues Joint Supervisory Statement on the Application of Scope of the PRIIPs Regulation to Bonds
The statement seeks to mitigate the risk of divergent application, by national competent authorities, for determining the type of bonds for which it is necessary to draw up a Key Information Document (KID).Disclosure RequirementsESMAKID / PRIIPS
On 16 October 2019 ESA has issued a consultation paper on amendments to existing rules underpinning the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).Disclosure RequirementsESMAKID / PRIIPS
The Danish Government has presented a proposal for an amendment of various acts, including the Danish Tax Assessment Act and the Danish Act on Taxation of Capital Gains on Shares.Management Remuneration