ESMA published advice on the extension of AIFMD passports to non-EU AIFMs and non-EU AIFs
ESMA has published its final opinion and advice on Article 67 (1) AIFMD i.e. on passporting of EU AIFMs and national private placement regimes, as well as on the extension of the AIFMD passport to non-EU AIFMs and non-EU AIFs. On 30 July 2015, the European Securities and Markets Authority (ESMA) published its advice to
Guidelines on financial instruments and related services to retail clients.
The Financial Services and Markets Authority has published a communication on the offer of certain financial institutions’ financing instruments and the provision of services related to such instruments to retail clients. On 29 July 2015, the Financial Services and Markets Authority (FSMA) published a communication FSMA_2015_08 dated 27 July 2015 on the offer of certain
Publication of updated Q&A on AIFMD.
The European Securities and Markets Authority has published an updated Q&A on the application of AIFMD. On 21 July 2015, the European Securities and Markets Authority (ESMA) published an updated version of its questions and answers paper (Q&A) on the application of the Directive 2011/61/EU of the European Parliament and of the Council of 8 June
Delay in ESMA’s opinion and advice on Article 67 (1) AIFMD.
ESMA has announced that its final opinion and advice on passporting of EU AIFMs and national private placement regimes, as well as on the extension of the AIFMD passport to non-EU AIFMs and non-EU AIFs, has been delayed. On 22 July 2015, the European Securities and Markets Authority (ESMA) announced that it is still finalising
Dutch Supreme Court rules that Luxembourg SICAV is not entitled to a refund of Dutch dividend withholding tax
On 10 July 2015, the Dutch Supreme Court ruled that a Luxembourg SICAV is not comparable to a Dutch Fiscal Investment Institution (“FBI”). Therefore, the SICAV is not entitled to a refund of Dutch dividend withholding tax (“DWT”). Facts and circumstances In 2007 and 2008 the SICAV received Dutch portfolio dividends on which Dutch DWT
Draft Program Act now includes the Financial Sector Contribution to State revenue
On 30 June 2015, the Finance and Budget Commission approved a draft Program Act now including the so-called Financial Sector Contribution (FSC) by which banks and insurance companies should bear an additional contribution to State revenue (Doc. Parl. 1125/010). As a reminder, as part of the Belgian government agreement, it was decided that banks and
Q&A on financial planning published by FSMA
The FSMA has published a Q&A on financial planning in Belgium. Since 1 November 2014 and the entry into force of the law of 25 April 2014 on the status and supervision of independent financial planners and on the offering of financial planning services by regulated institutions (published in the Belgian State Gazette of 27
Transversal Royal Decree postponed
On 10 June 2015, the Royal Decree of 2 June 2015 (Royal Decree 2015) amending the Royal Decree of 25 April 2014 imposing certain information requirements for financial products offerings to retail clients (Transversal Royal Decree) was published in the Belgian Official Gazette. The main objective of the Royal Decree 2015 is to postpone the
