Um mit der regulatorischen Landschaft Schritt zu halten, veröffentlicht unser Public-Affairs-Team regelmäßige Updates zu regulatorischen Themen, die vorbereitet werden und bereits eine eingehende Analyse ihrer Auswirkungen enthalten.
Eine Zusammenfassung des vorherigen Quartals ermöglicht es Ihnen, mit den jüngsten Nachrichten Schritt zu halten.
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Analysis of key regulatory and standards initiatives
On-going regulatory initiatives
- AIFM Directive - Alternative Investment Funds Managers Directive
- BMR - Benchmark Regulation
- CBFD - Cross Border Fund Distribution
- CSDR - Central Securities Depositories Regulation
- CSRD - Corporate Sustainability Reporting Directive
- DORA - European Digital Operational Resilience Act
- ELTIFs - European Long-Term Investment Funds
- EMIR Regulation - European Market Infrastructure Regulation/Derivative Products
- European Union Digital Finance Package
- ESAP - European Single Access Point Regulation
- EuVECA/EuSEF - Venture capital funds and social entrepreneurship funds
- IORP - Institutions for Occupational Retirement Provision
- MiCA - Markets in Crypto-Assets Regulation
- MIFID II/MIFIR - Markets in Financial Instruments Directive & Regulation
- MMFR - Money market funds Regulation
- Pilot Regime - Transitional regulatory framework to test the use of DLTs
- Post Trade - US T+1 - Settlement cycle shortened to T+1 in the US market
- PRIIPs Regulation - Packaged Retail and Insurance-based Investment Products
- Recovery & Resolution (for non banks)
- SFDR - Sustainable Finance Disclosure Regulation
- SRD - Shareholder Rights Directive
- Sustainable Finance
- Taxonomy regulation
- UCITS V Directive - Undertakings for Collective Investment in Transferable Securities
Other regulatory initiatives
- Collateral Directive
- Dodd-Frank Wall Street Reform and Consumer Protection Act (Title VII)
- FATCA - Foreign Account Tax Compliance Act
- Finality Directive
- FTT - Financial Transaction Tax (France)
- LEI - Legal Entity Identifier CFTC Interim Compliant Identifier (CICI)
- MIFID I - Markets in Financial Instruments Directive I
- SFT - Securities Financing Transactions Regulation
- Shadow Banking
- Short selling - Regulation on Short selling and certain aspects of credit default swaps
- Solvency II Directive
- T2SProject - Target 2 Securities Project - CSD Settlement & Delivery Platform
- Harmonising settlement cycles at T+2
- UCITS I-IV Directive - Undertakings for Collective Investments in Transferable Securities I-IV
Regulatory Insights
12 Nov 2024
2027 and the shift towards T+1 in Europe
Shortening the settlement cycle is a recurring process – veteran bankers will remember the arrival of D+5 in France in...
2027 and the shift towards T+1 in Europe
Shortening the settlement cycle is a recurring process – veteran bankers will remember the arrival of D+5 in France in...
Regulatorik
Shortening the settlement cycle is a recurring process – veteran bankers will remember the arrival of D+5 in France in the 1990s, replaced by D+3 and then T+2 in 2014. Such a shift is natural, and it follows the industry’s progress in automation, rationalization, and harmonization. So how is this new iteration such a big challenge?
2027 and the shift towards T+1 in Europe
18 Okt 2024
Be ready for cash payment ISO 20022 migration
The migration to ISO 20022 of the payment ecosystem continues to gain momentum worldwide.
Be ready for cash payment ISO 20022 migration
The migration to ISO 20022 of the payment ecosystem continues to gain momentum worldwide.
Regulatorik
The migration to ISO 20022 of the payment ecosystem continues to gain momentum worldwide.
Be ready for cash payment ISO 20022 migration
13 Sep 2024
The Shareholders' Rights Directive (SRD2) aims to promote electronic voting by retail clients
At present, the Shareholders’ Rights Directive (SRD2) has not been fully convincing: electronic retail voting at general...
The Shareholders' Rights Directive (SRD2) aims to promote electronic voting by retail clients
At present, the Shareholders’ Rights Directive (SRD2) has not been fully convincing: electronic retail voting at general...
Regulatorik
At present, the Shareholders’ Rights Directive (SRD2) has not been fully convincing: electronic retail voting at general meetings (GAs) is still a long way off.
The Shareholders' Rights Directive (SRD2) aims to promote electronic voting by retail clients
13 Sep 2024
AIFMD II - the granting of loans by a fund
AIFMD II provides clarifications expected by Alternative Investment Fund Management (AIFM) managers regarding the AIFM...
AIFMD II - the granting of loans by a fund
AIFMD II provides clarifications expected by Alternative Investment Fund Management (AIFM) managers regarding the AIFM...
Regulatorik
AIFMD II provides clarifications expected by Alternative Investment Fund Management (AIFM) managers regarding the AIFM passport regime regulating the issuance of loans across the EU. The new Directive establishes common rules for the granting of loans, covering the management of conflicts of interest, credit risk management and risk diversification according...
AIFMD II - the granting of loans by a fund
10 Jun 2024
The Corporate Sustainability Reporting Directive (CSRD) at a glance
In 2024, a new directive will come into force – the Corporate Sustainability Reporting Directive (CSRD). Signed on 21...
The Corporate Sustainability Reporting Directive (CSRD) at a glance
In 2024, a new directive will come into force – the Corporate Sustainability Reporting Directive (CSRD). Signed on 21...
Regulatorik
In 2024, a new directive will come into force – the Corporate Sustainability Reporting Directive (CSRD). Signed on 21 June 2022 and approved by the European Parliament in November 2022, the CSRD is replacing the NFRD (Non-Financial Reporting Directive) to establish new non-financial reporting standards and obligations.
The Corporate Sustainability Reporting Directive (CSRD) at a glance
30 Apr 2024
CSDR Refit – Where do things stand since it came into force at the beginning of 2024?
Three years after the launch of the review process, the amended version of CSDR , known as CSDR Refit in reference to...
CSDR Refit – Where do things stand since it came into force at the beginning of 2024?
Three years after the launch of the review process, the amended version of CSDR , known as CSDR Refit in reference to...
Regulatorik
Three years after the launch of the review process, the amended version of CSDR , known as CSDR Refit in reference to the eponymous European Commission's programme , came into force on 16 January 2024, 20 days after it was published in the Official Journal of the European Union.
CSDR Refit – Where do things stand since it came into force at the beginning of 2024?
23 Apr 2024
T+1: The new US rules are causing distress in arbitrage in Europe
From 28 May 2024, the US standard settlement cycle for most broker-dealer transactions in securities will be shortened...
T+1: The new US rules are causing distress in arbitrage in Europe
From 28 May 2024, the US standard settlement cycle for most broker-dealer transactions in securities will be shortened...
Regulatorik
From 28 May 2024, the US standard settlement cycle for most broker-dealer transactions in securities will be shortened to 1 business day after the trade date (T+1).
T+1: The new US rules are causing distress in arbitrage in Europe
04 Apr 2024
Publication of the ESMA preliminary report on a potential T+1 in the European Union
Anticipating CSDR Refit and its obligation to produce a report detailing the timeliness, costs and benefits and...
Publication of the ESMA preliminary report on a potential T+1 in the European Union
Anticipating CSDR Refit and its obligation to produce a report detailing the timeliness, costs and benefits and...
Regulatorik
Anticipating CSDR Refit and its obligation to produce a report detailing the timeliness, costs and benefits and modalities of implementing a T+1 settlement cycle, ESMA conducted during Fall 2023 a consultation on shortening the settlement cycle in Europe.
Publication of the ESMA preliminary report on a potential T+1 in the European Union
26 Mär 2024
AIFMD II: an evolution more than a revolution
What are the main changes or impacts for the AIFM?
AIFMD II: an evolution more than a revolution
What are the main changes or impacts for the AIFM?
Regulatorik
What are the main changes or impacts for the AIFM?
AIFMD II: an evolution more than a revolution
21 Mär 2024
Opening of the AMF ROSA service for French fund management companies’ products
As of 28 March 2024, as part of its digitisation project, ROSA becomes the new Products repository of the French Markets...
Opening of the AMF ROSA service for French fund management companies’ products
As of 28 March 2024, as part of its digitisation project, ROSA becomes the new Products repository of the French Markets...
Regulatorik
As of 28 March 2024, as part of its digitisation project, ROSA becomes the new Products repository of the French Markets Authority (AMF) replacing the GECO interface.
Opening of the AMF ROSA service for French fund management companies’ products
20 Mär 2024
Review of MIFID2/MIFIR package
The two texts amending the MIF2 package were published in the Official Journal of the European Union on Friday 8 March...
Review of MIFID2/MIFIR package
The two texts amending the MIF2 package were published in the Official Journal of the European Union on Friday 8 March...
Regulatorik
The two texts amending the MIF2 package were published in the Official Journal of the European Union on Friday 8 March 2024.
Review of MIFID2/MIFIR package
11 Mär 2024
MiCA: The European Commission adopts 4 new delegated regulations
The European Commission has taken a further step towards the implementation of the Crypto Asset Markets Regulation...
MiCA: The European Commission adopts 4 new delegated regulations
The European Commission has taken a further step towards the implementation of the Crypto Asset Markets Regulation...
Regulatorik
The European Commission has taken a further step towards the implementation of the Crypto Asset Markets Regulation (MiCA)...
MiCA: The European Commission adopts 4 new delegated regulations
11 Mär 2024
AIFMD and UCITS: the European Council adopts new rules
On 7 February 2024, the Council adopted the Directive amending the Alternative Investment Fund Managers Directive...
AIFMD and UCITS: the European Council adopts new rules
On 7 February 2024, the Council adopted the Directive amending the Alternative Investment Fund Managers Directive...
Regulatorik
On 7 February 2024, the Council adopted the Directive amending the Alternative Investment Fund Managers Directive (AIFMD) and modernising the framework governing collective investment schemes (UCITS) at European Union (EU) level.
AIFMD and UCITS: the European Council adopts new rules 
08 Feb 2024
ESAP - European Single Access Point: The platform will open on July 10, 2027
The ESAP platform will open on 10 July 2027, as part of the European Commission's implementation of the Capital Markets...
ESAP - European Single Access Point: The platform will open on July 10, 2027
The ESAP platform will open on 10 July 2027, as part of the European Commission's implementation of the Capital Markets...
Regulatorik
The ESAP platform will open on 10 July 2027, as part of the European Commission's implementation of the Capital Markets Union.
ESAP - European Single Access Point: The platform will open on July 10, 2027
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Quarterly regulatory overview
Regulatorische Videos
16
Mai
2022
Corporate Actions, do you speak 20022?
The ISO 20022 format has just been adopted for electronic data interchange between financial institutions for Corporate...
The ISO 20022 format has just been adopted for electronic data interchange between financial institutions for Corporate...
Regulatory
The ISO 20022 format has just been adopted for electronic data interchange between financial institutions for Corporate Actions. What is it about and why is this change necessary? Interview with Pierre Colladon, Senior Advisor Public Affairs and Regulation at Societe Generale Securities Services.
Corporate Actions, do you speak 20022?16
Mai
2022
Pilot Regime: an experimental regulation at the service of innovation
Find out all about the Pilot Regime, designed to test the use of distributed ledger technologies (DLT) in market...
Find out all about the Pilot Regime, designed to test the use of distributed ledger technologies (DLT) in market...
Regulatory
Find out all about the Pilot Regime, designed to test the use of distributed ledger technologies (DLT) in market infrastructure, through our interview with Alain Rocher, Head of Knowledge Management at Societe Generale Securities Services.
Pilot Regime: an experimental regulation at the service of innovation24
Jan
2022
"Gates": A solution to address liquidity risk
Discover "Gates": the liquidity management tool addressing liquidity risk, with Christian de Beaufort, Market...
Discover "Gates": the liquidity management tool addressing liquidity risk, with Christian de Beaufort, Market...
Regulatory
Discover "Gates": the liquidity management tool addressing liquidity risk, with Christian de Beaufort, Market Infrastructures & Regulation, SGSS.
"Gates": A solution to address liquidity risk24
Jan
2022
Revision of the AIFM and UCITS Directives – European Commission proposal
Discover the AIFM and UCITS Directives latest updates with Marie-Claire de Saint-Exupéry, Senior Advisor Public Affairs...
Discover the AIFM and UCITS Directives latest updates with Marie-Claire de Saint-Exupéry, Senior Advisor Public Affairs...
Regulatory
Discover the AIFM and UCITS Directives latest updates with Marie-Claire de Saint-Exupéry, Senior Advisor Public Affairs at SGSS.
Revision of the AIFM and UCITS Directives – European Commission proposal16
Nov
2021
The Reserved Alternative Investment Fund: Key features and Advantages
Watch Jean-Pierre Gomez' interview on RAIF.
Watch Jean-Pierre Gomez' interview on RAIF.
Regulatory
Watch Jean-Pierre Gomez' interview on RAIF.
The Reserved Alternative Investment Fund: Key features and Advantages17
Sep
2021
CSD Regulatory
Discover the CSDR latest updates with our expert Sylvie Bonduelle.
Discover the CSDR latest updates with our expert Sylvie Bonduelle.
02
Jul
2021
Flash Video - Asset Management: The challenges of SFDR's new "green" reporting
Watch Jean-Pierre Gomez' interview on SFDR.
Watch Jean-Pierre Gomez' interview on SFDR.
Regulatory
Watch Jean-Pierre Gomez' interview on SFDR.
Flash Video - Asset Management: The challenges of SFDR's new "green" reporting11
Mai
2021
Consultation on the European Settlement Finality Directive (SFD)
The European settlement Finality Directive is currently under review. What is the original purpose of the directive?...
The European settlement Finality Directive is currently under review. What is the original purpose of the directive?...
Regulatory
The European settlement Finality Directive is currently under review.
What is the original purpose of the directive? What is the reason for this review by the European Commission and which entities would be most affected by the revision of the directive?
Consultation on the European Settlement Finality Directive (SFD)