Regulation

Inside Luxembourg’s equivalence for UK investment services

Post-Brexit, Luxembourg has set up a national regime with the UK, now a third country, under which certain investment services can be provided to professional clients within the Grand Duchy. Asset News looks at the technical details of this ‘equivalence’ and its wider impact.

EU regulator flags liquidity concerns for alternative investment funds

The mismatch between the potential liquidity of the assets and the redemption timeframe offered to investors by Alternative Investment Fund (AIF) sector is worrisome for the European Securities and Markets Authority (ESMA).

EU sustainable finance advisers threaten to quit over green Taxonomy politicisation

Nine members of the Platform for Sustainable Finance, an expert group which advises the European Commission on Taxonomy Regulation, threatened to quit as politicisation of the Taxonomy Regulations is hampering the platform’s work and dismissing science-based technical criteria.

EU supervisors tell financials to prepare for asset quality deterioration

The joint committee of European supervisory authorities (EBA, Eiopa and Esma) warned of possible further market corrections in its Q1 2021 report on risks and vulnerabilities in the EU financial system.

Esma fines Moody’s €3.7m for conflicts of interest lapses

The European Securities and Markets Authority (ESMA) has fined five entities in Moody’s Group and issued public notices for breaches of Credit Ratings Agencies Regulations (CRAR) for avoidance of shareholder conflicts of interest.

‘Esma will not become European Union’s SEC…’

However, increasing the powers of the European Securities and Markets Authority (ESMA), which completed a decade on 1 January 2021, will be critical for supervisory convergence of Europe’s fragmented markets – a key component of the capital markets union (CMU).

EU dilutes Taxonomy by granting gas power plants a 'green' chit

The European Commission has yielded under political pressure from several countries calling for the inclusion of gas power plants as sustainable investments in the draft sustainable finance taxonomy rules, which it has accepted, much to the chagrin of scientists, NGOs and financial institutions.

EU’s sustainable finance platform pushes for larger Taxonomy scope

The Platform for Sustainable Finance has recommended the European Commission to maximise the inclusiveness of its current Taxonomy framework while maintaining its integrity.

EU supervisors seek comments on Taxonomy-related product disclosures

European Supervisory Authorities (ESAs) have issued a consultation paper seeking input on draft Regulatory Technical Standards (RTS) regarding disclosure of financial products investing in economic activities that contribute to an environmental investment objective.