Update of the Royal Decree on institutional undertakings for collective investments with variable capital that invest in financial instruments and liquidity
In a nutshell The Ministry of Finance has published a draft Royal Decree (the Draft royal decree) to update the Royal Decree of 7 December 2007 (the Royal Decree of 2007) on the institutional undertakings for collective investment (UCIs) with variable capital that have the sole purpose of collective investment in financial instruments and liquidity.
On 2 December 2016, a Bill was submitted to the Belgian Chamber of Representatives to transpose Directive 2014/91/EU on undertakings for collective investment in transferable securities (UCITS V or the Directive)(1). The Directive revises the UCITS Directive(2) in relation to depositary functions, remuneration policies and sanctions. Transposing UCITS V The Directive introduces new rules on undertakings for
The Commission has just proposed an extension for the date of application of the Regulation on Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPs). The Commission and a Council Working Group agreed in a meeting on Wednesday morning 9 November 2016 to delay the implementation of the PRIIPs Regulation, following discussions earlier
The Belgian Financial Services and Markets Authority adds crowdfunding to its communication on public offers that are exempted from the prospectus obligation
On 27 October 2016, the Belgian Financial Services and Markets Authority (FSMA) released its amended communication on public offers that are exempted from the obligation to publish a prospectus. Providers who wish to publicly offer a crowdfunding type of investment can also benefit from the statutory prospectus exemption. Statutory prospectus exemption for crowdfunding The applicable
Earlier this week, the European Parliament’s Economic and Monetary Committee (ECON) had already unanimously rejected the European Commission’s investor protection proposals for consumers who buy packaged retail and insurance-based investment products (PRIIPs). The draft legislation consisted of regulatory technical standards (RTS) that accompany the PRIIPs Regulation and were developed by the Commission to provide greater
On 1 September 2016, the European Parliament’s Economic and Monetary Committee (ECON) unanimously rejected the European Commission’s investor protection proposals. The Commission’s proposal The European Commission had set out regulatory technical standards (RTS) to provide greater protection to consumers who are interested in investing in packaged retail and insurance-based investment products (PRIIPs). The RTS are