ESMA readies MiFID II, MAR, and CSDR
ESMA published its final draft technical standards on some of the most important pieces of post-crisis financial regulation: MiFID II, MAR and CSDR. On 28 September 2015, the European Securities and Markets Authority (ESMA) published its final draft version of the Technical Standards (TS) on Markets in Financial Instruments Directive (MiFID II), Market Abuse Regulation
Final report on draft Implementing Technical Standards
ESMA has published its final report on draft Implementing Technical Standards on the procedures and forms for submitting information to ESMA by national competent authorities in relation to penalties and measures in accordance with Article 99e of the UCITS V Directive. On 18 September 2015, the European Securities and Markets Authority (ESMA) published its draft
Reporting obligation for payments to tax havens: impact for payments to Cyprus and Luxembourg
Companies subject to Belgian corporate income tax (residents or non-residents) have to declare direct or indirect payments exceeding EUR 100,000 to recipients established in ‘tax havens’. For these purposes, a tax haven is defined as a country: with no or low taxation (i.e. the nominal standard tax rate is less than 10%); that, for the
Cayman tax enacted – List of legal entities published
With the Program Law of 10 August 2015, the so-called “Cayman tax” has been implemented. Under this regime, certain legal constructions are treated as transparent for Belgian tax purposes, implying that income generated by them is taxable or their founders or beneficiaries. The Cayman tax is in principle applicable to income that is obtained, attributed or paid
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
