Compliance & Regulatory Alerts, Updates and Insights...
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MAS Consultation on Proposed Amendments to CIS Code Requirements
The Monetary Authority of Singapore (MAS) is seeking feedback on proposed amendments to the Code on Collective Investment Schemes (CIS Code). The amendments aim to enhance transparency and comparability in financial statements and reports prepared by CIS managers. Key areas include updates to financial reporting standards, disclosure of performance metrics, and guidance on consistent practices. The consultation is open for public comments until September 2024.
For more details, visit MAS news.
ASIC Takes Action Against Greenwashing Misconduct
The Australian Securities and Investments Commission (ASIC) continues its crackdown on misleading environmental claims. The latest enforcement efforts target companies making exaggerated or false claims about their environmental practices, known as greenwashing. ASIC emphasizes that accurate disclosures are crucial for maintaining investor trust and ensuring fair market practices. The regulator has taken steps against several entities to reinforce compliance and deter future violations.
For more details, visit ASIC news.
ESMA Releases Translations of Guidelines on Fund Names
The European Securities and Markets Authority (ESMA) has published translations of its guidelines concerning the names of funds. These guidelines aim to enhance clarity and prevent misleading fund names, especially in relation to sustainability and ESG claims. The translated versions provide access to non-English-speaking stakeholders, ensuring consistent application across the EU.
For more details, visit ESMA news.
FCA Urges Insurers to Prioritize Fair Value and Customer Outcomes
The Financial Conduct Authority (FCA) has called on insurers to demonstrate their commitment to delivering fair value and positive outcomes for customers. The regulator highlights concerns that some firms may be failing to adequately assess and deliver value across their products and services. The FCA expects insurers to adopt a customer-centric approach, ensuring that products meet consumer needs and are priced fairly.
For more details, visit FCA press release.
SEC Enhances Rules to Prevent Market Manipulation
The U.S. Securities and Exchange Commission (SEC) has adopted new measures aimed at tightening regulations against market manipulation. The updated rules focus on strengthening oversight and enhancing transparency, particularly in areas prone to abusive practices. These changes align with the SEC’s ongoing efforts to protect investors and maintain fair, orderly markets.
For more details, visit SEC press release.
CFTC Imposes Penalties for Violations of Swap Data Reporting Rules
The Commodity Futures Trading Commission (CFTC) has announced enforcement actions against several firms for failing to meet swap data reporting requirements. The violations include inaccurate, incomplete, or untimely submissions. The penalties emphasize the importance of accurate and timely reporting to maintain market transparency and compliance with CFTC regulations.
For more details, visit CFTC press release.
CSSF Introduces New Transmission Mode for KIDs and Official Documents
The Commission de Surveillance du Secteur Financier (CSSF) has implemented a new submission process for Key Information Documents (KIDs) and other official documents. This updated mode leverages automated tools, enhancing the efficiency and accuracy of document handling. The move is part of CSSF’s broader initiative to streamline regulatory processes using AI-driven solutions.
For more details, visit CSSF news.
Disclaimer
The information provided in this discussion is for informational purposes only and does not constitute legal, financial, or professional advice. Please refer to the full regulatory texts and guidelines for detailed information and consult with a qualified professional for specific advice tailored to your situation.