The European Securities and Markets Authority (ESMA) has issued new instructions with updated validations and schemas for the first filings by money market fund (MMF) managers under the Money Market Funds Regulation (MMFR) due this September. Updates for the earlier instructions were published in July 2019 after considering feedback from market participants and the technical committee at ESMA. With this, MMF managers are required to use the latest version (v1.1) of the schemas to provide detailed information about the funds to their respective national competent authorities (NCAs) who will then share the same with ESMA after processing it through their internal systems. Read More
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Contrary to other jurisdictions that accept AIFMD reporting, the Luxembourg regulatory body CSSF (Commission de Surveillance du Secteur Financier) has outsourced the transmission infrastructure for accepting AIFMD XML submissions. The CSSF accepts two transmission channels currently, which are listed below:
In response to the COVID-19 pandemic’s potential impact on firms, the SEC has come forward with several contingency and relief measures in an effort to ease the regulatory burdens that investment advisors and stakeholders may be facing in the new all-remote work environment.
During the earlier days of the pandemic, the SEC announced that they were extending filing deadlines for a number of regulatory obligations including Form ADV, Form PF and Brochure Delivery. Now, both the SEC and NFA continue to monitor how the market is functioning as well as impending risks that may be lingering in this new environment in order to be able to provide swift guidance and relief to impacted parties if needed while still maintaining continuity of operations.
