ESMA Preparations for a No-Deal Brexit
Published 15 October 2019
Category: Financial Regulation
On 7 October 2019, ESMA issued updated statements in relation to its approach to the application of some key MiFID/MiFIR II provisions in case of a no deal Brexit and in terms of its use of UK data and MiFID II calculations.
Look further into the updated approach here.
Next step: The final timing and conditions of Brexit are still uncertain, and we will keep a close eye on whether ESMA will adjust the approach announced on 7 October 2019.
The European Supervisory Authorities (ESA) has published draft technical standards setting out detailed rules on i.a. fund managers’ obligations under the ESG Disclosure Regulation.AIFMDComplianceDisclosure RequirementsSustainability
Entry into Force: Guidance Signal Excluding Certain Alternative Investment Funds from VAT Exemption on Management Fees
On 7 May 2020, a guidance signal which excludes certain alternative investment funds from VAT exemption on management fees entered into force.Danish RegulationManagement Remuneration
Due to the COVID-19 crisis, the European Commission has put forward a proposal for a directive that will defer certain time limits of DAC6, the EU directive regarding mandatory reporting in relation to arrangements with cross-border implications.ComplianceDAC6
To help fund managers address the consequences of the COVID-19 pandemic in portfolio company valuations, the International Private Equity & Venture Capital Valuation Guidelines Board has published special valuation guidance for estimating fair value.covid19Valuation