In the middle of June, the ESMA published their final remuneration guidelines as part of the enhanced MiFID.
In Germany, the Federal Parliament voted the law transposing Directive 2011/61/EC on AIFM which will come into force on 22 July. You will find a web link to the “Kapitalgesetzbuch” (KAGB) which forms the main and most extensive part, on page 7.
Luxembourg is reporting on latest issues by the Commission de Surveillance du Secteur Financier (CSSF): FAQs on Master-Feeder Structures on the one hand and guidance on AIFMD on the other hand.
You will find in this edition of Fund News also regulatory news from Malta on page 7.
In Switzerland, additional revised provisions entered into force on 1 June 2013 in the course of the revision of the CISA and CISO. The new provisions cover the topics high-net-worth individuals, investors with written discretionary management agreement and the key investor information document (KIID).
On the international level, IOSCO published its final report on Principles for the Regulation of Exchange Traded Funds (ETFs) which aims at making ETFs more consumer-friendly, guiding their regulation and improving industry best practice.
The Tax News part gives you updates from the EU, the Netherlands, Germany and UK.
On 12 June 2013 the European Commission issued proposal for European “FATCA” which means a proposal amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation.