The European Securities and Markets Authority (ESMA) has found that national regulators need to improve their supervision of Undertakings for Collective Investments in Transferable Securities (Ucits) engaging in efficient portfolio management techniques (EPM). A recent peer review by ESMA, which assessed the level of compliance of six national competent authorities (NCAs) with its Guidelines on […]
The European Securities and Markets Authority (ESMA) has fined Danske Bank, Nordea Bank, SEB, Svenska Handelsbanken and Swedbank €495,000 each and issued five public notices for negligently breaching the Credit Rating Agencies Regulation (CRAR). ESMA found that the five banks infringed the CRAR by issuing credit ratings without being authorised by ESMA to do so. […]
The Spanish National Securities Market Commission (CNMV) has published its first list including 20 accepted certifications that prove compliance with the guidelines set out by the European Securities and Markets Authority Esma in order to meet Mifid II’s requirements. The 20 titles appearing on the list correspond to the training certifications – taught by six educational […]
Ratings agency Moody’s has been hit with a €1.25m fine for breaking credit ratings rules. The European Securities and Markets Authority fined Moody’s Deutschland GmbH (Moody’s Germany) €750,000 and Moody’s Investors Service Limited (Moody’s UK) €490,000, and issued a public notice. The Authority said that the two Moody’s businesses “negligently committed two infringements of the CRAR […]
Jersey Finance has said that NAV of regulated funds domiciled in the jurisdiction increased by £5bn in the third quarter of 2014 to reach over £205bn – a five year record high. The figures represent a 5.5% year on year increase in NAV, as the number of regulated funds rose by 21 to 1,304 in […]
Italian asset management association Assogestioni has announced changes for asset management Italian firms, following the 8 May agreement that set new rules for the industry.
The European Securities and Markets Authority has approved an agreement negotiated with the Guernsey Financial Services Commission covering alternative investment funds affected by the introduction of the AIFMD in July.
The European Securities and Markets Authority (ESMA) says that it has found evidence of “significant” differences in the way EU member states implement supervision and enforcement of regulations relating to money market funds.
Changes necessary to comply with ETF and Ucits guidelines set out recently by Europe’s regulatory co-ordinator could impact liquidity and securities lending, according to French lawyers Gide Loyrette Nouel.
ETF guidelines published by the European Securities and Markets Authority (ESMA) have been welcomed by EDHEC-Risk Institute, which says they are consistent with its responses to the Authority’s consultation earlier this year.
The European Commission is consulting on potential changes to the UCITS framework with improvements to the regulation of money market funds, short-termism and harmonising the investment industry’s approach to fund redemptions among the items on the agenda.
The European Securities and Markets Authority (ESMA) has published a consultation paper on proposed guidelines on the remuneration of alternative investment fund managers (AIFMs).