Switzerland

Details

  • Service: Financial Services
  • Industry: Investment Management, Fund News
  • Type: Business and industry issue, Regulatory update
  • Date: 9/20/2012

Fund News - Issue 95 - August 2012 

In our latest edition of KPMG’s Fund News we provide you with regulatory updates and insights from Ireland, Luxembourg, Malta and UK in the Regulatory News part and some interesting information about  developments in different tax issues from the European Union, Ireland, Luxembourg and Turkey.
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The Irish regulator gave clarification on additional subscriptions and the Key Investor Information Document (KIID). Furthermore, Ireland reports referring the consultation Papier 59 and the new draft anti-money laundering legislation. On 24 August 2012, the draft law implementing the AIFMD into Luxembourg law was submitted to the Chambre des Députés (Luxembourg Parliament). The draft will be discussed in the Parliament where it may be amended and is expected to be voted into law before the end of 2012.


In Malta the Companies Act Regulations extend the Maltese legislation applicable to cell companies. In UK the Financial Services Authority (FSA) published its latest proposals to ban the promotion of UCIS and similar products to retail investors.
In the Tax News part Ireland reports that their Double Taxation Agreement Network is growing as the following countries has recently agreed on DTAs: Egypt, Qatar and Uzbekistan. Turkey gives you an update on the Private Pensions Savings and Investment System Law.

 

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