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Pathfinder - Deloitte monthly regulatory update - 14/05/2013


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AIFM typology

Draft regulatory technical standards to determine types of alternative investment fund managers – ESMA 02/04/2013

The ESMA published its draft regulatory technical standards to determine types of alternative investment fund managers (AIFMs), where relevant in the application of the Directive AIFM:

  •  AIFMs managing alternative investment funds of the open-ended type; and
  •  AIFMs managing alternative investment funds of the closed-ended type.

The aim is to set up harmonized applications rules across the European Union on liquidity management, valuation procedures and transitional provisions of the Directive.

Capital requirements Directive IV

Statement by President Jose Manuel Barroso and Commissioner Michel Barnier following the European Parliament’s approval of new European rules to impose stronger prudential requirements on banks (MEMO/13/338) – European Commission 16/04/2013

The next step is the vote of the European Council. The Capital Requirements Regulation and Directive will apply from 1st January 2014, if published by 30 June 2013, otherwise from 1 July 2014.

For further background we refer to the background note published by the European Parliament and to the dedicated page of the European Commission.

Business transparency on social and environmental matters

Adoption of the Proposal for a Directive enhancing the transparency of certain large companies on social and environmental matters – European Commission 16/04/2013

On 16 April 2013, the European Commission adopted the Proposal for a Directive enhancing the transparency of certain large companies on social and environmental matters. This Directive provides amendments to Directive 78/660/EEC and 83/349/EEC on Annual and Consolidated Accounts (called Fourth and Seventh Accounting Directives) focusing on companies’ transparency and performance on environmental and social matters.
For further background, we refer to the following documents:
Frequently asked questions on Disclosure of non-financial and diversity information by certain large companies and groups (proposal to amend Accounting Directives);
Legislative proposal, Impact Assessment: Full text and Summary;
• Dedicated page of European Commission on Non-Financial Reporting.

Discover the other topics of this newsletter in the attached PDF.

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