The Consultation Paper provides for the Annual Assessment of the operation of the thresholds for the liquidity determination of bonds and the trade percentiles determining the pre-trade SSTI-threshold which is currently subject to a a four-stage phase-in regime under RTS 2.
The Consultation proposes to:
- Move to stage 3 for the liquidity assessment of bonds;
- Move to stage 3 for the SSTI percentile of bonds; and
- Not to move to stage 2 for the SSTI percentile of non-equity instruments other than bonds.
The consultation closes on 11 June 2021.
EBA has published its Report on convergence of supervisory practices in 2020.
The Report finds that supervisors converged in using the key topics of the EBA 2020 Convergence Plan in their supervisory work in 2020 and good progress in supervisors’ efforts could be achieved across the EU. Overall, the Report finds that in 2020, increased supervisory attention was given to the assessment of profitability and the business model (closely linked to asset quality), as well as to selected areas of ICT risk and operational resilience.
The EBA also observed continued efforts by competent authorities to cooperate with their resolution authority counterparts and prudential supervisory practices have also been converging in the context of money laundering and terrorist financing risk.
Another key element of the Report is the convergence in supervisory colleges, where the EBA observed increased interaction in 2020, compared to 2019, due to the close cooperation among college members during the pandemic and the colleges definitely becoming the natural platform for exchanges when it comes to cross-border banks.
Under the 2021 Convergence Plan, the EBA also published four key topics, which in 2021 will require heightened supervisory attention: i) asset quality and credit risk management; ii) ICT and security risk, operational resilience; iii) profitability and business model; and iv) capital and liability management. The selection of these key areas for 2021 were primarily driven by the implications of the COVID-19 pandemic while they also ensure continuity in other areas to enhance supervisory efforts towards further convergence.
The European Commission is preparing a retail investment strategy for the first half of 2022.
In line with the Commission’s stated objective of ‘an economy that works for people’, the Commission is seeking to ensure that a legal framework for retail investments is suitably adapted to the profile and needs of consumers, helps ensure improved market outcomes, empowers retail investors and enhances their participation in the capital markets. The strategy will cover a range of initiatives designed to provide the necessary level of confidence and assurance for retail investors.
The consultation closes on 03 August 2021.
(only in Italian)
Pubblicato in Gazzetta Ufficiale n. 112 del 12 maggio 2021, il decreto del Ministero dell’economia e delle finanze recante modifica degli allegati C e D al decreto 28 dicembre 2015, concernente l’attuazione della legge 18 giugno 2015, n. 95 e della Direttiva 2014/107/UE in materia di scambio automatico di informazioni su conti finanziari. Nello specifico, le modifiche riguardano l’elenco delle giurisdizioni oggetto di comunicazione e l’elenco delle giurisdizioni partecipanti.
Consob has ordered the blackout of 5 new websites that abusively offer financial services:
- TradeED Group Ltd (website https://luxeeforex.com);
- Momentum Investment Group Ent Ltd (website www.invest-moment.com and related page https://client.invest-moment.com);
- Nab Europe Limited (website www.nabeuropelimited.com);
- Uniteex Inc e Demure Consulting Ltd (website www.uniteex.co and related page https://client.uniteex.co);
- Donnybrook Consulting Ltd (website www.optimarket.co and page https://optimarket.trade).
The number of websites blacked out since July 2019 has thus risen to 446.
(only in Italian)
L’Agenzia delle Entrata, con la Risposta n. 327 dell’11 maggio 2021 ha fornito chiarimenti sulla nuova esenzione da ritenuta per i dividendi corrisposti a fondi UE/SEE, introdotta con le modifiche all’articolo 27, comma 3, del d.P.R. 29 settembre 1973, n. 600, apportate dall’articolo 1, comma 631, della legge 30 dicembre 2020, n. 178.
A seguito di tale modifica, l’esenzione fiscale già prevista per gli utili da partecipazione percepiti da OICR residenti in Italia sarà estesa anche agli OICR di diritto estero conformi alla direttiva 2009/65/CE (UCITS IV) e a quelli non conformi alla medesima direttiva 2009/65/CE il cui gestore è soggetto a forme di vigilanza nel Paese estero nel quale è istituito ai sensi della direttiva 2011/61/UE (AIFMD), istituiti in Stati membri dell’Unione europea e in Stati aderenti all’Accordo sullo Spazio Economico Europeo che consentono un adeguato scambio di informazioni. Inoltre, l’Agenzia precisa che, ai fini della non applicazione della ritenuta, è necessario che gli OICR soddisfino i requisiti regolamentari, mentre non è previsto alcun requisito in merito alla forma giuridica e allo status fiscale dei medesimi nei Paesi in cui sono istituiti. La disposizione in esame si applica agli utili “percepiti” a decorrere dal 1° gennaio 2021 in base al principio di cassa, a prescindere dal periodo di formazione degli utili medesimi o dalla relativa delibera di distribuzione.
