Regulatory/Compliance

Proposed amendments to sale-and-leaseback. How ready are you?

In mid-2020, the IFRS Interpretations Committee (IFRS IC) received a question on how to measure a lease liability and right-of-use (ROU) asset on a sale-and-leaseback transaction with fully variable payments. You might be wondering what sparked this question in the first place. Well, IFRS 16 prohibits the inclusion of variable lease payments (except for those […]
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Fair valuation of investment property in uncertain times

It’s no secret that measuring a fair value of investment property has always been a challenging task...and, needless to say, the current pandemic has not made it any easier. The valuation of investment property following the principles of IFRS 13 is usually dependent on several assumptions and unobservable inputs. The current market situation may very likel […]
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Ready or not…PRIIPs KID implementation deadline for UCITS funds is coming soon!

On 3 February 2021, the European Supervisory Authorities (ESAs) submitted draft Regulatory Technical Standards (RTS) to the European Commission. These contained amendments to the key information document (KID) for packaged retail and insurance-based investment products (PRIIPs). Although some national competent authorities on EIOPA’s board expressed reserva […]
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German interest rate could boost your fund market shares

2020 was quite a year, bringing huge challenges to the asset management industry, and beyond. Now, here we are in 2021 and optimism is in the air…especially for German investors! The story so far Back in 2018, the German Investment Tax Act (GITA) was completely revamped. It lightened the complex tax reporting that funds (and therefore asset managers) were en […]
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CSSF circular 20/759 shakes things up in the Board Room

In December 2020 the CSSF published circular 20/759 (an update of circular 12/552) on central administration, internal governance and risk management. It transposes (amongst others) EBA Guidelines 2017/11 on internal governance and joint EBA and ESMA Guidelines 2017/12 on suitability assessment of the members of the management body and key function holders. […]
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Reporting under DAC 6? A five-step guide for banks

The deadlines for DAC 6 are approaching fast.  First reports will be due on 31 January 2021, and retroactive reports stretching back to 25 June 2018 have to be submitted by 28 February 2021. To avoid common pitfalls, and help you get started, we’ve outlined five key steps to get prepared for reporting. Step one: Determine your intermediary status DAC 6 i […]