The European Insurance and Occupational Pensions Authority (EIOPA) has appointed Stavros Konstantas to its Management Board. This leadership transition follows the departure of Ante Žigman, who has transitioned to a new role as Governor of the Croatian National Bank.
The Danish Financial Supervisory Authority (Finanstilsynet) has concluded a thematic inspection revealing that investment managers failed to provide accurate and up-to-date PRIIP KID documents. This highlights a critical need for compliance teams to strengthen oversight of product disclosures to prevent misleading information regarding risks, costs, and expected returns.
The Federal Financial Supervisory Authority (BaFin) has issued a formal warning regarding the website auextrade(.)com, which is offering financial, investment, and crypto asset services without required regulatory permission. Notably, the operator appears to be engaging in identity abuse by falsely implying an association with the FCA-regulated Allianz UK Listed Equity Income Fund.
The Securities and Exchange Commission has filed charges against three New Jersey residents for an alleged affinity fraud scheme that misappropriated approximately USD $47 Million from investors. This enforcement action highlights the significant risks associated with unregistered broker-dealer activities and the exploitation of specific community ties to facilitate fraudulent investment offerings.
The Danish Financial Supervisory Authority (Finanstilsynet) has concluded a functional inspection of Core Property P/S, identifying significant deficiencies in the preparation and control of PRIIP KID documents. This finding highlights critical failures in fund-specific risk reporting and necessitates immediate remedial action to ensure investor protection.
De Nederlandsche Bank (DNB) has announced an extension of its non-enforcement period regarding the separation of banking and trading books. This decision follows guidance from the European Banking Authority (EBA) to mitigate operational complexity and legal uncertainty during the implementation of the Fundamental Review of the Trading Book (FRTB).
The Financial Conduct Authority (FCA) has issued Policy Statement PS26/17, finalizing rules to strengthen liquidity risk management for UCITS and Non-UCITS Retail Schemes (NURS). These updates aim to improve the use of anti-dilution tools and enhance how authorized fund managers (AFMs) monitor the liquidity of held securities.
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