CSSF informed that an XBRL solution will be adopted as the collection method for the new prudential reporting applicable to investment firms, as of September 30, 2021; this adoption will be within the framework of the transposition, into the national law, of the Investment Firms Directive or IFD (2019/2034) and the entry into application of the Investment Firms Regulation or IFR (2019/2033). IFD and IFR entered into force on December 25, 2019. In a separate statement, CSSF highlighted that undertakings for collective investment in transferable securities (UCITS) management companies and alternative investment fund managers will have to comply with EU Regulation 2019/2088 on sustainability-related disclosures in the financial sector (also known as SFDR) by March 10, 2021.
Keywords: Europe, Luxembourg, Banking, Securities, Investment Firms, IFD, IFR, Reporting, SFDR, Sustainable Finance, Disclosures, ESG, CSSF
The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.