• Service: Financial Services
  • Industry: Investment Management, Fund News
  • Type: FundNews
  • Date: 3/31/2014

Fund News - Issue 113 - March 2014 

Our Fund News Issue 113 provides you with regulatory news mainly from the European Union and Ireland, including some short information on Finland, Luxembourg and Switzerland. The Tax News section relates the new developments in the European Union and Luxembourg.
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On pages 3 to 5 you will find detailed information regarding UCITS V on which the EU has finally reached a compromise. In March, ESMA updated many regulatory Q&As and guidelines; please find the relevant web links on page 9 and the following pages. In Ireland, the AIFMD is the important topic, covering most of their news.


The Central Bank of Ireland (CBI) published first reporting dates for AIFM and issued guidelines on AIFMD “depositary lite” services offered by fund administrators. Furthermore, the CBI published an eighth edition of its AIFMD Q&A at the beginning of March. Also, Luxembourg issued an updated FAQ on AIFMD and an up-to-date application form for AIFM authorization by the CSSF.


In the news part from Switzerland, you will find an update on the FINMA circular 2013/08 “Market Conduct Rules” which requires institutions in scope of said circular to carry out their first risk assessment by 1 April 2014. In addition to that, the FINMA confirms further cooperations with foreign authorities to supervise the distribution of funds to non-qualified investors.


The Tax News gives detailed information regarding the recently signed FATCA Agreement between Luxembourg and the United States. Beside this, the enhanced EU Savings Directive has been adopted by the European Council at the end of March.


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