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Extension of financial reporting deadlines for listed companies

Find below the latest actions from the Financial Conduct Authority (FCA), the European Securities and Markets Authority (ESMA) and Commission de Surveillance du Secteur Financier (CSSF) to support listed companies during the coronavirus crisis.

One such measure announced by the Financial Conduct Authority (FCA) in collaboration with the Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA), is that listed companies now have 6 months to publish audited annual reports from the end of the financial year. The European Securities and Markets Authority (ESMA) has issued a statement on the implications of the Covid-19 pandemic on the deadlines for publishing financial reports which apply to listed issuers under the Transparency Directive. The statement underlines that issuers should keep their investors informed of the expected publication delay and that requirements under the Market Abuse Regulation still apply.

Also the financial supervisory authority CSSF in Luxembourg will not apply a strict enforcement policy with regards to reportings if delays are duly justified. Regarding the use of deadline extension for AIFMD reports, the CSSF expects to be informed by the issuer about its decision to make use of the deadline extension.

In this respect, the supervised entities should contact the CSSF through their usual channels as soon as possible and ahead of reporting deadlines. Also note, that the reporting deadline for normal AIFs and Fund of Funds remains 30 April and 15 May based on the fund strategy.

Please read more on the extension of deadlines for concerned entities according to the new bill of law n°7540 submitted by the Luxembourg Ministry of Finance, summarised by Clifford Chance. Clearly, acarda is able to produce the reports based on raw data in the original time-frame without delay. Our regulatory reporting platform arep and all surrounding systems can be accessed remotely with secured equipment.

Please contact us if you have questions or need assistance regarding your regulatory reporting.

More news…

Security Information

Over the past few days we have been asked if acarda is affected by the security breaches related to Microsoft Exchange Server security vulnerabilities.

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ESMA published final guidance on Article 25 of AIFMD to monitor Leverage risk in AIFs. Be prepared with acarda.

The European Securities and Markets Authority (ESMA) published the final guidance on leverage risk in AIF under the Article 25 of the AIFMD (Directive 2011/61/EU) on 17 December 2020.

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New PRIIPs RTS confirmed by EIOPA. What to consider now.

After the revised RTS (Regulatory Technical Standards) for PRIIPs have already been adopted by ESMA and EBA, they have now also been confirmed by EIOPA.

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Security Information

Over the past few days we have been asked if acarda is affected by the security breaches related to Microsoft Exchange Server security vulnerabilities.

More

ESMA published final guidance on Article 25 of AIFMD to monitor Leverage risk in AIFs. Be prepared with acarda.

The European Securities and Markets Authority (ESMA) published the final guidance on leverage risk in AIF under the Article 25 of the AIFMD (Directive 2011/61/EU) on 17 December 2020.

More

New PRIIPs RTS confirmed by EIOPA. What to consider now.

After the revised RTS (Regulatory Technical Standards) for PRIIPs have already been adopted by ESMA and EBA, they have now also been confirmed by EIOPA.

More

ESA publishes final SFDR RTS: The main changes – Current need for action

On 4 February 2021, the European Supervisory Authorities (ESA) published their final report on the Regulatory Technical Standards (RTS) for SFDR. This results in a number of updates that urgently need to be taken into consideration in the compliance reporting.

To keep you up to date, we have summarised the most important upcoming changes and our recommendations for action.

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SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

acarda upgrades its reporting platform with a SFDR module with scoring, classification and the publication functions according to SFDR Level 1 and 2.

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