31 August 2021 - We are pleased to share the latest edition of the ICMA AMIC Regulatory Update.
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ICMA August publications
2 August - ICMA, ISDA and ISLA sign MoU on the Common Domain Model
13 August- ICMA AMIC responds to IOSCO’s consultation on Sustainability-Related Practices in Asset Management
16 August-ICMA AMIC responds to FSB's consultation on Money Market Funds
24 August- New members join ICMA
ICMA supported event
ICMA is supporting the Responsible Asset Owners Global Symposia taking place on October 5th. This virtual event will bring together fund managers, institutional investors, investment consultants, wealth managers and expert advisors. Click here to view the agenda, speakers and book your tickets using the 10% discount code 'ICMA10'.
AMIC August Regulatory Update
3 August - Delegated legislation integrating sustainability into UCITS Directive, AIFMD, MiFID II
The Delegated Regulations and Directive were published in the Official Journal of the EU on 22 August 2021. This package of new rules require stakeholders covered by these directives to consider sustainability factors and risks across different functions (e.g. risk management) and if their potential clients have sustainability preferences when considering investment products. These texts will apply from 1 and 2 August 2022.
17 August- CSSF updates its FAQ on swing pricing
The CSSF published an updated FAQ on swing pricing. All changes tracked: here.
30 August - ESRB publishes EU Non-bank Financial Intermediation Risk Monitor 2021
The European Systemic Risk Board (ESRB) has published the EU Non-bank Financial Intermediation Risk Monitor 2021 (NBFI Monitor).This issue of the NBFI Monitor focuses on data up to end-2020 and includes three special features on the following topics the vulnerabilities of commercial real estate (CRE) funds; the role of insurers in credit intermediation, their interconnectedness with funds and the derivatives they hold; the Gamestop, Greensill and Archegos incidents.
9 August - Commission consultation on amendments to UCITS Directive on PRIIPs KID exemption
The European Commission issued for consultation a draft Directive amending the UCITS Directive as regards the use of key information documents. The key element of the proposal is the extension of the temporary exemption (until 30 June 2022) from the requirement to provide retail investors with a Key Information Document (KID) under the PRIIPs Regulation.
12 August - IOSCO publishes results of examination of ETF behavior during COVID-19 induced market stresses
The Board of the IOSCO published a thematic note that examines the behavior of exchange traded funds (ETFs) during the COVID-19 induced market stresses, drawing on market data and observations gathered over the course of the first half of 2020.
24 August- ESMA consult on Data Reporting Services Providers (DSRP)
ESMA published a Consultation Paper (CP) on draft Regulatory Technical Standards (RTS) under the Markets in Financial Instruments Regulation (MiFIR) regarding suitability assessments of DRSP management body members. It takes into account different roles and functions carried out by them and the need to avoid conflicts of interest between management body members and users of the Approved Publication Arrangement (APA), Consolidated Tape Provider (CTP) or Approved Reporting Mechanism (ARM).
ICMA events and podcast episodes
Missed an ICMA event? Watch the recording
CDM for repo and bonds
21 July ICMA held a virtual event providing an introduction to the Common Domain Model project for repo and bonds.
ICMA AMIC: The impact of digitization on the Asset Management industry
16 June 2021 As the buy-side explores new possibilities offered by technological innovations, this ICMA Asset Management and Investors Council (AMIC) virtual event discussed how the asset management industry is considering asset tokenisation and the use of artificial intelligence. The event also featured a presentation from the European Commission.
Check the ICMA Media Library for more webinars and podcast episodes.
Upcoming online courses from September to November:
Introduction to Securitisation
Introduction to Bond Markets Qualification (IBMQ)
Fixed Income Certificate (FIC)
Financial Markets Foundation Qualification (FMFQ)
Inflation-Linked Bonds & Derivatives
Assessing the Credit Risk of Corporate Bonds
Fixed Income Portfolio Management & Construction