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Recent Posts

Mikkel Bates


Recent Posts

European Working Group issues guide to completing EMT

By Mikkel Bates Regulations

Having successfully delivered, after lengthy negotiations, the European MiFID Template (EMT) for the fund industry to provide the product data to populate customer reports under MiFID II, the European Working Group (EWG) has issued guidelines to help fund groups with the population of the EMT.

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The impact of MiFID II and PRIIPs changes on UCITS

By Mikkel Bates Regulations

MiFID II and PRIIPs may have been “just around the corner” forever, but we are now in the last quarter before both come into force at the end of the year.  And that three-month deadline may be creating a justified feeling of panic.

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Updated ESAs’ Q&As on PRIIPs KIDs

By Mikkel Bates Regulations

It took just over six weeks for the European Supervisory Authorities (ESAs) to add 14 new questions to the 72 they answered in early July and they’ve supplemented this version with detailed flow charts of the decision process for the risk and reward calculations.  With around four months to go, we expect the pace of updates either to speed up because answers are needed urgently or to dry up completely if everyone is confident they have everything they need.  Does anyone believe there are no outstanding questions?

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EFAMA endorses European MiFID Template (EMT)

By Mikkel Bates Regulations

With MiFID II kicking off in January 2018, the European Working Group of asset managers and trade bodies has been putting in a huge effort to produce a standard template to deliver their target market and costs & charges data to distributors.

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ESAs’ Joint Technical Advice on PRIIPs with environmental or social objectives (EOS PRIIPs)

By Mikkel Bates Regulations

In February this year, the European Supervisory Authorities (ESAs) issued draft technical advice on EOS PRIIPs, along with a consultation paper (CP) on their proposals. On the back of responses to that CP, they have now submitted their Joint Technical Advice to the European Commission.

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FCA stands firm on non-complex products

By Mikkel Bates Regulations

Further to our blog last month, the FCA has now published its updated policy statement on MiFID II implementation.

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ESAs’ Q&As and European Commission Draft Guidelines on PRIIPs KIDs

By Mikkel Bates Regulations

Earlier this week, the European Supervisory Authorities (ESAs) published their much-anticipated Q&As on various aspects of the PRIIPs KID and the Commission also issued its draft guidelines on PRIIPs.

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What do we still need to know about PRIIPs KIDs?

By Mikkel Bates Regulations

The latest version of the PRIIPs Regulatory Technical Standards (RTS) were published last month.  You would think that, with the amount of thought and debate that have gone into PRIIPs since 2014, the RTS would cover every situation and to have a clear rule for each.  But, sadly, that isn’t the case.

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Are PRIIPs back on track with a new RTS?

By Mikkel Bates

After many weeks of complete silence, the European Commission published its (presumably) final version of the PRIIPs Regulatory Technical Standards (RTS) on 8 March, almost meeting its selfimposed deadline of adopting them by the end of February.

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Commission announces 12-month delay to PRIIPs

By Mikkel Bates

At least one prediction has been right today, as the European Commission’s Vice President Valdis Dombrovskis confirmed it has recommended a delay of 12 months to December 2017 for PRIIPs KIDs at its meeting on 9 November.  This means that PRIIPs will go live at the same time as MiFID II, which was itself delayed by a year.

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