Search
Contact
15.06.2018 | KPMG Law Insights

Investment | Law | Compact – Issue 06/2018

Dear Readers,

the EU Commission presented its proposals for strengthening a sustainable financial system at the end of May. Investors should be informed about sustainable financial products, which should also be included in investment considerations.

A classification system will decide which investments and assets are considered sustainable in the future. A regulatory anchoring of ESG (“environmental, social, governance”) requirements for investment strategies is contained in the legislative package of the
EU Commission at present, however.

Incidentally, we report briefly on various activities of the European supervisory authority in our June issue.

With warm regards,
Henning Brockhaus

European supervision

European supervisory authorities publish joint annual report 2017

On May 22, 2018, the European financial regulators EBA, ESMA and EIOPA published the joint report “Joint Committee Annual Report 2017” with the objectives achieved in 2017.

In particular, the supervisory authorities report on successes in the fight against money laundering and terrorist financing. In addition, the identification of risks to financial stability has been a consistent objective at the forefront of the work of the three supervisory authorities.

The Joint Committee report can be found here.

European supervision

ESMA updates various Q&A catalogs

The European Securities and Markets Authority (ESMA) has updated some of its question and answer catalogs:

  • Q&A on MiFID2/MiFIR (investor protection)
  • Q&A on the application of the UCITS Directive
  • Q&A on the application of the Benchmark Regulation
  • Q&A on EMIR

European legislation

EU Commission publishes proposal to promote a sustainable financial system

The EU Commission has published a legislative proposal to promote a sustainable financial system.

The proposal includes the introduction of a classification system that can be used to record sustainable activities, especially with regard to environmental aspects.

In addition, fund companies and asset managers will be given new transparency requirements, and investment and insurance advisors as well as asset managers will be required to ask customers about sustainability preferences and include them in suitability tests.

More information on this and the legislative proposal can be found here.

European supervision

ESMA publishes suitability guidelines on MiFID2

On May 28, 2018, ESMA published guidelines on the suitability test in investment advice and asset management. They are based on the text of ESMA’s 2012 Guidelines on MiFID1 (2012 Guidelines), but add further details to them and also take into account

– technological developments in the area of investment advice, in particular the increased use of robo-advice, as well as

– the experience of national supervisors with regard to the application of suitability criteria (including the 2012 Guidelines)

You can access the Guidelines here (as part of the Final Report).

 

Explore #more

25.06.2025 | KPMG Law Insights

Business Travel and Assignment in the USA: What you need to know about US immigration

The recent changes in US immigration rules are causing uncertainty worldwide. In particular, since the new US government took office, processes regarding entry into the…

11.06.2025 | KPMG Law Insights

Omnibus IV brings some simplifications, especially in product law

The EU Commission proposed the fourth omnibus package on May 21, 2025. Omnibus IV contains simplifications in relation to numerous product law requirements and…

02.06.2025 | Deal Notifications

KPMG Law and KPMG advise Diehl Defence on the acquisition of e.sigma

KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) and KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG) advised Diehl Defence GmbH & Co. KG (Diehl Defence) on the complete acquisition of…

27.05.2025 | KPMG Law Insights

Cell Phone Inspections at US Border and Beyond: What to Expect

Key facts: U.S. immigration officials monitor public social media data and travelers should be prepared to share details about their personal social media accounts. All…

14.05.2025 | KPMG Law Insights

BGH on customer installations: Decision orders application in line with the directive

In a ruling dated May 13, 2025, the BGH classified the supply infrastructure in the specific case of a residential complex in Zwickau as a…

13.05.2025 | In the media

KPMG Law expert in Spiegel article on energy policy

Dirk-Henning Meier, Senior Manager in the energy law department at KPMG Law, is quoted in a recent article on energy policy in Der Spiegel.…

13.05.2025 | Career, In the media

azur Karriere Magazin – All AI or what?

Artificial intelligence has long since arrived in law firms and legal departments. But dealing with it is a skill that needs to be learned. Many…

13.05.2025 | KPMG Law Insights

Initial experience with the Single-Use Plastics Fund Act: what manufacturers should bear in mind

Beverage cups, foil and plastic cigarette filters litter streets, parks and sidewalks. The cleaning costs are borne by the local authorities. The Disposable Plastics Fund…

07.05.2025 | KPMG Law Insights

Termination of fixed-term rental agreements in the case of pre-leasing

In the case of a pre-leasing, the tenancy only begins at a later date, usually the handover date. In such cases, the contracting parties usually…

Contact

Henning Brockhaus

Partner

THE SQUAIRE Am Flughafen
60549 Frankfurt am Main

Tel.: +49 69 951195061
hbrockhaus@kpmg-law.com

© 2024 KPMG Law Rechtsanwaltsgesellschaft mbH, associated with KPMG AG Wirtschaftsprüfungsgesellschaft, a public limited company under German law and a member of the global KPMG organisation of independent member firms affiliated with KPMG International Limited, a Private English Company Limited by Guarantee. All rights reserved. For more details on the structure of KPMG’s global organisation, please visit https://home.kpmg/governance.

 KPMG International does not provide services to clients. No member firm is authorised to bind or contract KPMG International or any other member firm to any third party, just as KPMG International is not authorised to bind or contract any other member firm.

Scroll