( Only in Italian)
Published in the Official Journal of the European Union on 20 December 2021, Directive (EU) 2021/2261 of 15 December 2021 amending Directive 2009/65/EC as regards the use of key information documents by management companies of undertakings for collective investment in transferable securities (UCITS).
Member States shall ensure that where an investment company or, for one of the common funds it manages, a management company draws up, delivers, revises and translates a key information document which complies with the requirements for such documents set out in the PRIIPs Regulation, the competent authorities shall consider such document as complying with the requirements applicable to key investor information set out in Articles 78 to 82 and Article 94 of the Directive 2009/65/CE.
Member States shall ensure that the competent authorities do not require an investment company or, in respect of one of the common funds it manages, a management company to draw up key investor information in accordance with Articles 78 to 82 and Article 94 of this Directive where it draws up, delivers, revises and translates a key investor information document which complies with the requirements for key investor information documents set out in the PRIIPs Regulation.
By 30 June 2022, Member States shall adopt and publish the provisions necessary to comply with this Directive.
These provisions shall apply from 1 January 2023.
EBA has launched a public consultation on its draft Regulatory Technical Standards (RTS) specifying and, where relevant, calibrating the minimum performance-related triggers for simple, transparent and standardised (STS) on-balance-sheet securitisations that feature non-sequential amortisation.
The Capital Markets Recovery Package amended the Securitisation Regulation in several aspects, including creating a specific framework for STS on-balance-sheet securitisation to ensure that the Union securitisation framework provides for an additional tool to foster economic recovery in the aftermath of the COVID-19 crisis.
These draft technical standards aim at providing technical clarification on these triggers.
The consultation runs until 28 February 2022.
EBA has published two draft regulatory technical standards (RTS) regarding the reclassification of investment firms as credit institutions. This final draft of the RTS, which is part of the EBA’s roadmap for implementing a new prudential regime for investment firms, will provide clarity in the calculation of the EUR 30 billion threshold for investment firms in seeking authorization as a credit institution, as well as for competent authorities in monitoring the position of firms for reclassification.
EBA has published today its final draft Implementing Technical Standards (ITS) on supervisory reporting with respect to common reporting (COREP), asset encumbrance, global systemically important institutions (G-SIIs) and additional liquidity monitoring metrics (ALMM). Proportionality was a key consideration in the proposed changes, making reporting requirements better suited to the size and risk of the institutions.Following the recommendations of its cost of compliance Study, the EBA introduced the necessary amendments that will exempt small and non-complex institutions (SNCIs) from reporting several liquidity metrics.
The scope of the Guidelines is broader compared to the previous one and apart from insurance and reinsurance undertakings and Institutions for Occupational Retirement Provision, relevant branches and intermediaries operating cross-border are now also included. The revised Guidelines also contemplate the use of LEI code for identification purposes when competent authorities provide information to EIOPA.
National competent authorities are expected to apply these revised Guidelines from 1 July 2022 onwards.
EIOPA has published its annual report on the use of limitations and exemptions from the regular Solvency II reporting by national competent authorities (NCAs) during 2020 and the first quarter of 2021.