Over the year, ALFI participates in numerous consultations issued by European Institutions and industry associations.
The UCITS IV Simplified Notification Procedure sub-working group has been monitoring the implementation of the UCITS IV Directive’s notification provisions since 2009 and has established a list of practical questions related to both the outward passporting and the inward passporting of UCITS to and from Luxembourg.
ALFI RESPONSE TO ESMA’s CONSULTATION PAPER ON GUIDELINES ON THE TREATMENT OF REPURCHASE AND REVERSE REPURCHASE- ALFI statements
Please view ALFI’s response here.
On 28 June 2012 ESMA published a consultation paper on guidelines on sound remuneration policies under the AIFMD.
The European Parliament issued on August 14th, 2012, a draft report of MEP Saïd El Khadraoui on Shadow Banking. ALFI’s position paper on this draft report focuses on the matters that are of particular relevance for the industry.
ALFI comments on ESMA’s consultation on its technical standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories- ALFI statements
The European Securities and Markets Authority (ESMA) launched on June 25th a consultation on its technical standards under the Regulation on OTC derivatives, central counterparties and trade repositories (EMIR), which is aimed at improving the functioning of OTC derivatives markets in the European Union (EU).
On 27 June 2012 ALFI responded to IOSCO’s Consultation report on principles for the regulation of Exchange Traded Funds.
To read ALFI's response please click here
Appendice 1 - SB-Risks (UCITS & MMF)
Appendice 2 - SB Risks (AIFMD)
The recent update of the SIF Law includes the requirement, in accordance to article 42bis, for each Specialised Investment Fund (“SIF”) to have appropriate risk management systems in place to identify, measure, manage and monitor the risks associated with the positions and their contribution to the overall risk profile of the portfolio.
ALFI Comments in the IOSCO Consultation Report on Suitability Requirements for the Distribution of Complex Financial Products- ALFI statements
On 18 May 2012 ALFI responded to IOSCO’s ConsultationReport on Suitability Requirements with respect to the Distribution of Complex Financial Products. Topics covered in this paper are among others the classification of retail and non-retail investors, disclosure methods, investor protection means in case of sale of complex products on an unsolicited basis, and information on the basis of the advice provided by the intermediary.
ALFI Comments to the IOSCO Consultation Principles for the Valuation of Collective Investment Schemes- ALFI statements
On 18 May ALFI commented on the IOSCO Consultation Principles for the Valuation of Collective Investment Schemes.The consultation report sets out principles which can be utilised in order to assess the quality of regulation and industry practices regarding the valuation of CIS with a view to ensuring the fair treatment of investors. It updates and modernises IOSCO’s Principles for CIS Valuation (which was originally developed in 1999) so as to take into consideration subsequent regulatory, industry and market developments. It also clarifies some concepts put forward by IOSCO in its report “Principles for the Valuation of Hedge Fund Portfolios”, such as the entity responsible for establishing a policy governing valuation and the independence of the valuation duty.