On 2 February 2017 European Insurance and Occupational Pensions Authority (EIOPA) published a Consultation Paper on Guidelines on complex Insurance-Based Investment Products (IBIPs) that incorporate a structure which makes it difficult for the customer to understand the risks involved. The Guidelines cover the assessment of all types of IBIPs. They include criteria to identify product […]
On 12 January 2017, the European Securities and Markets Authority (ESMA) issued an Opinion calling for consistent application of the product intervention powers under the Markets in Financial Instruments Regulation (MiFIR).
From 3 January 2018, ESMA and NCAs will have the power to temporarily prohibit or restrict investment firm’s marketing, distribution or sale of:
On 20 December 2016, the Permanent Representatives Committee approved, on behalf of the Council, an agreement with the European Parliament on prospectuses for the issuing and offering of securities.
“This regulation will help companies gain access to European capital markets by reducing some of the administrative formalities”, said Peter Kažimír, Slovak minister for finance and president of […]
On 20 December 2016, Covip (the Italian Pension Funds Authority) published a survey on the investment policies adopted by self-employment pension funds (Casse Professionali) during year 2015 (“Document”).
The Document firstly assesses the allocation of financial resources between the different asset classes and, in particular:
The European Securities and Markets Authority (ESMA) has added 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).
This Q&A provides clarifications on the following topics:
[Newsflash n. 22]
Last 11th of December EBA launched a consultation on the draft Regulatory Technical Standards (RTS) on passporting pursuant to article 28(5) of the Payment Services Directive 2 (PSD2).
The PSD2 came into force on 12 January 2016 and is due to be implemented in all Member States on the 13th of January 2018.
The directive […]
On 14 December 2016, Consob published two Communications about its determination to comply with the ESMA Guidelines on Market Abuse Regulation (“MAR”) dated 13 July 2016.
The first Communication (n. 0110351 of 14 December 2016) concerns ESMA Guidelines 2016/1477 on persons receiving market soundings (“Market Sounding Receivers” or “MSR”), which will […]