2016

2016  2015  2014

EUROPE

EMIR - EU Commission issues delegated regulation supplementing EMIR with regard to RTS on the clearing obligation

EMIR - ESMA reports on possible systemic risk and cost implications of interoperability arrangements

EMIR - ESMA publishes practical guidance

MAR - ECON’s Committee letter relating to the Commission delegated regulations under the Market Abuse Regulation

MAR / MiFIR - EU Commission issued draft delegated regulation focusing MAR/MiFIR reporting requirements harmonisation

MAR - EU Commission publishes draft RTS on MAR

MiFIR - EU Parliament proposed amendments and one-year extension to the entry into force of MiFIR

PRIIPs - EFAMA proposes to delay the PRIIPS Regulation implementation

SFTR – ESMA publishes a discussion paper on draft RTS and ITS


WORLD

Collateral Reuse - FSB reports on possible measures of non-cash collateral re-use

EMIR - EU Commission implementing decision of the equivalence to EMIR of the US regulatory framework for CCPs


LUXEMBOURG

EMIR - Bill 6846 adopted by the Chamber of Deputies

UCITS V - The CSSF sheds light on UCITS V timing practical issues


IRELAND

Central Bank (Supervision and Enforcement) Act 2013 – The Investor Money Regulations (“IMR”)


TAX UPDATES

Luxembourg - 2017 Tax Changes Announced

Belgium - New flexible deadline for the first FATCA reporting

Germany - Tax Reform tackles ‘dividend stripping’ transactions

Netherlands - Supreme Court decision on Dutch dividend withholding tax treatment of foreign shareholders

Portugal - 2016 Budget Proposal includes tax changes and BEPS-inspired measures