2016

2016  2015  2014

EUROPE
4th AMLD – EU Commission's proposal issued
AIFMD/UCITS V – ESMA call for evidence on asset segregation and custody services
AIFMD/UCITS V – ESMA Q&A updates
Benchmark Regulation – Latest developments including the list of critical benchmarks published in the OJEU
CMU initiatives – The EU Commission adopts regulation proposal on EuVECA and EuSEF
EMIR  – ESMA consultation paper on the clearing obligation for small financial counterparties (Category 3)
EMIR – ESMA publishes the list of third-country markets considered as equivalent to en EU regulated market
EMIR – ESMA Q&A update regarding trades cleared by a clearing house which is not a CCP
EMIR – Update as regards risk mitigation techniques for non-centrally cleared OTC derivatives
MAR – Level 2 measures published in the OJEU
MAR – ESMA opinion on EU Commission amendments on draft ITS
MAR – ESMA Q&A update regarding managers' transactions
MAR - ESMA issues its final report on ITS as regards sanctions and measures
MiFID - ESMA warning and Q&A update relating to the sale of CFDs and other speculative products to retail investors
MiFID II - ESMA publishes Guidelines on cross-selling practices
MiFID II/MiFIR - Level 2 implementations state of play
MMF Regulation - Proposal adopted by the Council of the EU
PRIIPs - RTS published by the EU Commission<br priips="" -="" eu="" commission="" adopts="" delegated="" regulation="" on="" priips'="" temporary="" product="" intervention="" power PRIIPs - EFAMA calls on the EU Commission to appropriately address all PRIIPs' Regulation RTS
Prospectus - ESMA Q&A update regarding roadchows advertisements and alternative performance measures
Transparency - ESMA reminder on APM Guidelines

BELGIUM
Communication FSMA on the procedure for the electronic transmission of documents
Insurance (Solvency II), law of June 29th 2016
OTC Derivatives - FSMA Regulation on the distribution of certain OTC derivative financial instruments on the Belgian retail market
Royal Decree of 10 July 2016 about Private Equity funds (Privak/Pricav)
Transparency and Market Abuse, law of June 27th 2016

FRANCE
PRIIPs - The entry into force scheduled by the end of the year has been suspended sine die

LUXEMBOURG
AML/CFT – Answer to the parliamentary question n° 2094 regarding video identification
AMF/CFT – CSSF circular 16/639 on FATF declarations
Audit – Audit Law and Grand-Ducal Regulation published in the Memorial A
Company Law - Publication of the law modernising the Luxembourg company law
RAIF - The RAIF law published in the Memorial
SIF/SICAF/Part II funds - Opinion of the Conseil d'Etat on Bill 6936<be />Transparency - Two CSSF circulars amended
Transparency - CSSF FAQ update

WORLD
AIFMD Passport - ESMA review of non-EU AIFMs and non -EU AIFs (Canada, the United States, Hong Kong and Switzerland, as well as Cayman Islands and Bermuda and oher jursidicions)

TAX UPDATES
EUROPEAN UNION
Anti-Tax Avoidance - EU countries reach political agreement on Anti-Tax Avoidance Directive
LUXEMBOURG
Luxembourg - US Doubla Tax Treaty: a Bill to reflect the intentions of the parties
Modernisation of the tax law - New tax measures for corporations and individuals for 2017: Bill 7020 submitted to Luxembourg Parliament
VAT treatment - Circular on VAT and directors' fees to be published in September