[Newsflash n. 27]
On 5 April 2017 the Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – “ESAs”) launched a public consultation on the Draft Joint Guidelines (“Draft Guidelines”) under Article 25 of Regulation (EU) 2015/847 (”Regulation”) on the measures payment service providers should take to detect missing or incomplete information […]
The European Securities and Markets Authority (ESMA) has added 10 new Q&As to its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
The MiFID II Q&A provide clarifications on the following topics:
[Newsflash n. 25]
Following the rejection by the European Parliament (in September 2016) of the previous draft, on 8 March 2017 the European Commission published a revised version of its “level 2” Regulatory Technical Standards (“RTS”) under the Packaged Retail and Insurance-based Investment Products Regulation (“PRIIPs Regulation”).
In the revised RTS, the Commission has implemented most of […]
On 23 February 2017, the Securities and Exchange Commission (S.E.C.) published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers, which are registered investment advisers that use computer algorithms to provide investment advisory services online with often limited human interaction.
Because of the unique issues raised by […]
On 10 February 2017, the Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) launched a public consultation on draft regulatory technical standards (RTS) to help Member States determine when payment service providers and electronic money issuers should appoint a Central Contact Point (CCP) to support the fight against […]
On 10 February 2017, the European Supervisory Authorities (ESAs) launched a consultation on a proposal to set minimum requirements, which manufacturers of packaged retail and insurance-based investment products with environmental or social objectives (EOS PRIIPs) should comply with to ensure that credible products are offered to retail investors. This consultation is in response to […]
On 7 February, IVASS published two regulations, as delegated by the Private Insurance Code:
[Newsflash n. 24]
With recent Communication of 7 February 2017, Consob has issued a warning to the market concerning the marketing of contract for difference (CFD), rolling spot forex and binary options.
In light of the increasing dissemination of such speculative forms of investment, the authority has raised the level of awareness of these products alerting […]
On 26 January 2017, Covip (the Italian Pension Funds Authority) published its response to the question (posed by Assofondipensioni, an Italian non-profit industry association) on the impact of the bail-in rules to the assets in which supplementary pension funds invests their funds.
Covip concludes that: