Events listed in [AFG] Association Française de la Gestion financière
Position paper AFG – directive FASTER – procédures de remboursement de retenues à ...
ID 24979
The European Commission recently proposed Directive COM(2023) 324 final, known as FASTER, aimed at establishing a common system for the faster and safer refund of excess withholding taxes within the European Union (EU). As a contextual reminder, the existing procedures for refunding excess withholding taxes on dividends or interest payments to non-resident investors in listed securities under double taxation treaties are lengthy, costly, and ...
Réponse de l’AFG à la consultation IOSCO sur les outils de gestion de la liquidité
ID 24853
The AFG has provided its feedback to the IOSCO consultation report on Anti-dilution Liquidity Management Tools. IOSCO’s consultation report addresses Anti-dilution Liquidity Management Tools (LMTs) for Collective Investment Schemes, emphasizing their importance in managing liquidity risk. It proposes guidance for responsible entities, including tools like swing pricing and anti-dilution levies. Feedback from market participants was sought until 4 September 2023. AFG res ...
Réponse de l’AFG à la consultation FSB sur la gestion de la liquidité des fonds ...
ID 24848
The AFG has taken part at the consultation by the FSB, which proposed amending its 2017 recommendations on liquidity conditions offered by investment funds, particularly those investing in illiquid assets. The FSB suggests categorizing assets into three categories: liquid, less liquid, and illiquid, with a significant impact on the resulting liquidity that funds can offer to investors. Key changes involve a bucketing approach, anti-dilution ...
Réponse de l’AFG à la consultation de l’ESMA sur son projet de RTS dans le cadre de ...
ID 24263
ESMA initiated a consultation on draft RTS under the ELTIF regulation, intending to propose level 2 measures by early 2024. The consultation covers cost disclosure (Article 25), redemption policy (Article 18), and matching mechanism (Article 19). In its response, AFG acknowledges the importance of the proposed regulations but highlights ongoing discussions on cost disclosure and undue costs within other legislations. They urge waiting for ...
Réponse de l’AFG à la consultation de la Commission Européenne sur les standards ...
ID 24141
On June 9 2023, the EC issued a consultation on its proposed Delegated Regulation on the CSRD to incorporate ESRS. The AFG responded on 7 July 2023, expressing support for the EC’s efforts in establishing an effective sustainability reporting framework. AFG also welcomed the adjustments to the ESRS aimed at reducing information requirements to ease administrative burdens and improve reporting readability. However, **AFG raised ...
Réponse de l’AFG à la consultation des Autorités Européennes de Surveillance sur la ...
ID 24015
The AFG responded to the consultation by the ESAs on the review of the SFDR Delegated Regulation. The need for alignment between SFDR and the CSRD is stressed. The need for consistency between ESAs‘ work on SFDR and the EC’s work on CSRD is emphasized. The dependence on data providers in the absence of CSRD coverage for some undertakings is mentioned. Furthermore, there is ...
Réponse AFG à la Consultation de l’ACPR sur la DeFi
ID 23937
The AFG responded to the ACPR Consultation on DeFI. The AFG particularly supports the idea of a flexible and adaptive regulation based on the principle of open source. It emphasizes the need to differentiate between the services provided (such as PSANs) and the resulting technological products (such as wallet providers), as the latter should not be subjected to the same obligations. **The regulatory framework ...
Réponse de l’AFG à la consultation sur la refonte du Label ISR
ID 23624
The AFG has responded to the consultation on the redesign of the ISR Label framework. The objective of the Label Committee is to propose a more demanding and transparent label while maintaining the general nature of the ISR Label and incorporating a climate focus. Given the widespread use of the ISR Label, the AFG and its members considered it important to examine the proposed ...
Réponse de l’AFG à la consultation de la Commission Européenne sur les 4 derniers ...
ID 23196
The AFG published an opinion to the European Commission consultation on the Environmental Taxonomy which aims to finance a more sustainable economy. The AFG supports legislative and regulatory initiatives to ensure greater transparency and achieve the EU Green Deal objective to reorient capital towards sustainable finance. The AFG believes that it is essential to align CSRD and Taxonomy application timelines to ensure a consistent ...
Réponse de l’AFG à la consultation de l’ESMA sur son projet de modification de la ...
ID 23162
The AFG has provided comments on ESMA’s Consultation Paper on the draft guidelines on stress test scenarios under the MMF Regulation. The AFG agrees with ESMA’s position on the inclusion of a climate scenario, stating that it is not relevant for MMFs and that the implementation would be complex. AFG also believes that the current MMF requirements for liquidity management are relevant and proved ...