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AML: Possible "grey" in Monaco's future following MONEYVAL’s latest Evaluation Report
Last Monday the anticipated fifth mutual evaluation report on The Principality of Monaco was published by a Committee of Experts of the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) following its approval during a MONEYVAL plenary meeting on December 9th 2022.
Sparkassen-Plattform BIS.on WMS kooperiert mit cleversoft
Das Compliance-FinTech cleversoft und BIS.on WMS vereinbaren Kooperation • Sparkassen profitieren von der Bereitstellung einer großen Bandbreite an Produktinformationsblättern und Risikoindikatoren (SRI) für Anleihen und Aktien über BIS.on WMS
SFDR: European Commission publishes corrections to RTS only a few days before the Regulation comes into force
Level 2 of the SFDR and the new version of the SFDR regulatory documents have already entered into force since January 1st, 2023. However, only a few days before the regulation officially came into force, on December 27th 2022, the European Commission published a corrected version of the SFDR RTS with minor adjustments on the templates in the Official Journal. In our current blog post, we have summarized and commented the relevant changes for you, incl how they affect cleversoft’s SFDR Standard Service.
PRIIPs Q&A update by ESA includes revision of previous Q&A
On December 21st, 2022, the European Supervisory Authorities (ESA) published another update of the Questions and Answers (Q&As) on the PRIIPs Key Information Document.
FCA and His Majesty’s Treasury launch consultations, suggesting a complete UK PRIIP regime overhaul
Shortly before the expected January 1st application date for the new rules on the UK PRIIP KID disclosures, Financial Conduct Authority (FCA) published a consultation on further changes to be made to the UK PRIIP regime. Read our blog and find out more about the new Discussion and consultation paper that is launched by the FCA.
docRepository reaches for the stars with "Atlas”
The cleversoft docRepository tool suite for the procurement and provision of regulatory documents has now become even more powerful and user-friendly - thanks to our extensive feature update "Atlas", named after the second largest Pleiades star.
GDPR Data exchange with U.S. companies: Draft Adequacy Decision for U.S.
On December 14th, the European Commission has published its draft adequacy decision for the U.S. following the Executive Order signed on October 7th by Joe Biden for implementation of the agreed Trans-Atlantic Data Privacy Framework into U.S. law.
EBA publishes Guidelines on remote customer onboarding
On 22 November 2022, the European Banking Authority (EBA) published its final guidelines on the use of remote customer onboarding solutions. This outlines steps to effectively ensure the onboarding of remote customers in line with current anti-money laundering and counter-terrorist financing (AML/CFT) legislation and the EU data protection framework.
Latest regulatory updates on ESG Data in EU, UK and Switzerland
The recently published SFDR Q&As have made clear that the ESG data provided by companies up to date has been insufficient. Justifiably, the question is being asked more and more often: How much longer? In our blog post, we give you an overview of the current status of ESG disclosure requirements for companies in the EU, UK, and Switzerland.
cleversoft wins Main Software 50 Awards
30 November was a particularly joyful date for cleversoft. Because in the evening there was special occasion to celebrate: The Main Software 50 Awards Germany were presented in Düsseldorf, and we were awarded - with the first place!
KYC / AML: Ultimate Beneficial Owner (UBO) data will no longer be publicly available in the EU
On 22 November, the European Court of Justice invalidated the provision of the Anti-Money Laundering Directive requiring EU Member States to grant general access to UBO registers on data protection grounds. Some EU countries have already provisionally restricted their access to the registers. Ultimate Beneficial Owners (UBOs) are beneficial owners of a company with more than 25% of the voting rights. Details of these individuals are necessary to carry out correct KYC procedures. Read more about this in our latest blog article.
Sanctions: 27 new sanction’s lists added to the cleversoft FCCS sanction’s catalogue
Our constant focus is the benefit of our clients in terms of Sanction’s coverage through our continuously growing sanctions list catalog, with our catalog extension for the Middle East and Africa during Q1 2022 and today’s extension for the Eastern European region. Want to know more about new sanction’s lists and how our AML solutions use it, read the Blog Post.
ESMA proposes name rules for ESG funds
The EU markets regulator and supervisor ESMA, launched a consultation paper on November 18th, 2022, proposing binding rules on the use of ESG and sustainability-related terminology in the names of investment funds.
ESAs publish Last Minute Q&A on SFDR Delegated Regulation
Level 2 of the SFDR will enter into force in less than 6 weeks. In order to avoid any misinterpretation, the ESAs have - at the last minute - published Questions & Answers (Q&A) on the Delegated Regulation. In our current blog post, we have summarized and commented on all relevant passages of the publication for you.
PRIIPs QA updated by ESA now include PRIIPs 2.0 recommendations
On Monday, November 14th, 2022, the European Supervisory Authorities (ESA) published an updated version of the Questions and Answers (Q&A) on the PRIIPs Key Information Document, also known as PRIIPs Level 3 guidelines. The updated document includes new Q&As, that relate to the EU PRIIPs RTS 2.0 amendments introduced in Commission Delegated Regulation (EU) 2021/2268, which enters into force on January 1st, 2023
KYC: Why an automated solution makes sense. New Challenges due to the Ukraine War.
Guest article by René Blaschke for the Börsen-Zeitung, 1.11.2022
The new BusinessForensics Full Cloud Solution: greater flexibility, connectivity and efficiency
BusinessForensics, part of the cleversoft group, launches the new full cloud version of its market-proven financial crime prevention suite.
ESG products in UK: FCA proposes new rules against greenwashing
To strengthen the fight against greenwashing, the Financial Conduct Authority (FCA) is proposing a package of new measures for ESG products marketed in the UK. Mandatory sustainability labeling and restrictions on the use of terms such as "ESG", "green" or "sustainable" are planned, for example. We have summarized the most important key points for you in our current blog post
FinDatEx publicly consults on the update of its ESG template - EET V1.1
FinDatEx (Financial Data Exchange Templates) has published the update EET V1.1 of its ESG template for consultation on 07 November 2022. The update reflects industry feedback on the current EET and foresees a number of revisions.
Changes in the parameters of MCR floor
On 19th October the MCR floor will be adjusted to reflect inflation. It is especially important to take that into account if your reporting is based on a year-end different from 31st December or if you are reporting to the PRA (Bank of England).
EU announces final text of MiCA regulation
The European Council published last week information notes (13198/22 and 13215/22) with the final texts of the following two regulations...
U.S. Executive Order on new EU-U.S. Data Privacy Framework: What does it mean for the transatlantic data flows?
On October 7th, President Joe Biden signed an Executive Order on ‘’Enhancing Safeguards for United States Signals Intelligence Activities” which implements the agreement reached in March 2022 for the new Trans-Atlantic Data Privacy Framework into U.S. law.
Roll the film - with BusinessForensics!
On 3 and 4 November, the Fraud Film Festival 2022 will take place in Amsterdam. BusinessForensics, member of the cleversoft family, and Rabobank are jointly promoting the film entry "Push". Be there!
SFDR: ESAs propose amendments of final RTS
On September 30, 2022, the ESAs (EBA, EIOPA and ESMA) delivered to the European Commission (EC) their Final Report with draft Regulatory Technical Standards (RTS) under the Sustainable Finance Disclosure Regulation (SFDR).
Combating money laundering: Germany needs to catch up
The Financial Action Task Force (FATF), established by the G-7 and the European Commission, published its report on the state of anti-money laundering in Germany a few days ago.
cleversoft Standard PRIIP Service ready with the PRIIPs RTS 2.0 changes
We are happy to announce that we have completed and rolled-out the changes for EU PRIIPs RTS 2.0 for our cleversoft Standard OTC PRIIP service on the UAT / STG environment and it is available for you to consult and test.
Updated EPT V2.1 for consultation
To handle the UK PRIIPs regime and the latest amendments by the FCA related to this a new EPT v2.1 was published for consultation. The new EPT V2.1 is now under public consultation until the 19th of August 2022. The updated Template can be found on the FinDatEx website or HERE.
RTS under the SFDR now published in the Official Journal
After the final approval of the European Parliament, the Commission Delegated Regulation (EU) 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 of the European Parliament and of the Council (“Delegated Regulation”) was published at the Official Journal of the European Union On 25 July.
ESAs first annual report on the current state of voluntary disclosures of PAI under the SFDR
The European Supervisory Authorities (ESAs) have recently published their first annual report on the voluntary disclosure of Principal Adverse Impact (PAI) under the SFDR. Findings and recommendations summarized in the report are based on a spring 2022 survey of national competent authorities (NCAs).
EIOPA 2022 June updates
Did you already see the changes the updates from EIOPA supervision conference? We have prepared a short summary of the main message from the conference and the recent consultations on the regulatory updates that EIOPA published.
EU reaches agreement on European crypto-asset regulation (MiCA)
Last week, the EU reached an agreement on the proposed crypto-asset regulation "MiCA". The regulation is primarily aimed at improving investor protection and maintaining financial stability in relation to crypto-asset transactions. The subject of the legislative framework are issuers of unsecured crypto-assets and so-called "stablecoins", as well as the trading venues and wallets where crypto-assets are held.
"MiCA II" - Lagarde calls for EU regulation on staking and crypto lending
After the American crypto lending platform Celsius recently suspended payouts to its users, ECB President Christine Lagarde is now calling for consequences.
Right on time – postponement of the new EU PRIIPs RTS 2.0 fully legislated
As announced previously the EU Commission had proposed extending the delay to the new PRIIP RTS requirements to the end of the year, with a delayed application date starting on January 1st, 2023. While this date had been widely adopted by all market participants, it was not legislatively endorsed.
Malta no longer subject to the FATF’s Increased Monitoring List
In June 2021, the jurisdiction of Malta was named as one of the newest additions of the FATF’s Increased Monitoring List, dubbed also as the ‘greylist’.
European ESG Template: cleversoft already delivers today
The European ESG Template (EET) for the exchange of sustainability data was only recently presented, and the first deadline is already approaching.
ESAs publication - joint report on the withdrawal of authorisations for serious breaches of AML/CFT compliance rules
The EBAs have recently published a joint report, which provides a comprehensive analysis of the completeness, adequacy, and uniformity of the applicable laws and practices on the withdrawal of licenses for serious breaches of the AML/CTF rules.
EIOPA has published PWD2 of taxonomy 2.8
Did you already see the changes in 2.8 Taxonomy PWD2 published by EIOPA? We have analyzed the changes and prepared draft QRTs where you can see the new tables, including the possible list of values that can be populated for each field and a change log to taxonomy 2.6 EIOPA QRTs.
From 1 July: CDDS becomes cleversoft
Luxembourg/Munich, 15th June 2022 - Munich-based cleversoft Group, RegTech provider for the financial services sector, announces 1 year after the acquisition of Luxembourg-based CDDS Group, that from 1 July 2022 both company divisions will operate jointly under the name cleversoft. The same applies to the Know-Your-Customer and Anti-Money Laundering solutions (now cleversoft AMLspotter and cleversoft BatchNameCheck).
ESAs publish Clarification on SFDR RTS
Following the Q&A on Sustainable Finance Disclosure Regulation (SFDR) from May 25th, the ESAs published a week later a paper with Clarifications on the ESAs’ draft RTS under SFDR.
European Commission answers questions on SFDR
The European Commission published on May 25th, 2022 the answers to ESAs’ questions on the Sustainable Finance Disclosure Regulation ((EU) 2019/2088) (SFDR) and the Taxonomy Regulation ((EU) 2020/852). The paper covers details about topics such as PASI Statement, financial advisers and their recommendations of financial products, good governance practices for the investments of Art 8 and Art 9 products, and others.
MiCA: Be compliant from day one
On March 14, 2022, the European Committee on Economic and Monetary Affairs voted positively on the introduction of the Markets in Crypto Assets regulation (MiCA). Since then, it has been clear: The unified approval system for crypto assets is coming and will already come into force in parts towards the end of 2022.
Statement by EU supervisors on the quality and clarity of ‘What is this product?’
On May 10th, the ESAs published a statement on the provision of the Key Information Document (KID) in terms of the PRIIP Regulation EU No 1286/2014. Please refer to our recent blog post for detailed explanations, in particular on the expectations from the European regulators on the section “What is this product “. The ESA´s statement affects all PRIIP stakeholders.
cleversoft partners with Avaloq for full-service SFDR Disclosure Reporting
With the joint offering of leading RegTech Provider cleversoft and Avaloq, a global leader in digital banking solutions, financial institutions can seamlessly fulfill the extensive requirements of the EU Regulation 2019/2088 on Sustainable Finance Disclosure.
IFRS 17 Full Service offering for Middle East from SAM Corporate and cleversoft
SAM Corporate is cleversoft group’s preferred partner for IFRS 17 implementations of SecondFloor eFrame® IFRS17 in the Middle East and Africa. Keep reading to find out how this strategic partnership can benefit you.
EIOPA consults on draft Guidelines on integrating the customer’s sustainability preferences in the suitability assessment under the IDD
European Insurance and Occupational Pensions Authority (EIOPA) launched on April 13th, 2022 a public consultation on draft Guidelines on the integration of sustainability in the advice process under the IDD.
EIOPA has published PWD1 of taxonomy 2.8
Did you already see the changes in 2.8 Taxonomy published by EIOPA? The initial public working draft and QRT amendments for next year's reporting are already known. For detailed information on the Draft ITS amendment for 2.8 and what to expect further based on the EIOPA roadmap, see the analysis in our blog post.
Crisis in Ukraine: fifth round of sanctions against Russia
In light of Russia’s continuing war of aggression against Ukraine, and the reported atrocities committed by Russian armed forces in Ukraine, the Council decided today to impose a fifth package of economic and individual sanctions against Russia.
The Regulatory Technical Standards are now adopted by the European Commission
The European Commission has adopted the long-awaited regulatory technical standards (RTS) for the Sustainable Finance Disclosures Regulation (SFDR).
SecondFloor becomes cleversoft supervisory reporting B.V.
Now is the time to take the next step in our cooperation as a group, and so we have decided that SecondFloor will be renamed. Per April first, we will be named cleversoft supervisory reporting B.V
Crisis in Ukraine: new sanction’s list for SWIFT exclusions
Sanctions implemented by the EU since the beginning of the crisis in Ukraine include the exclusion of certain Russian and Belarusian banks from the Swift banking messaging platform. However, these sanctions are not included in the EU list, although they are referenced by other sources of sanctions. Therefore, we have added a new list to our catalog for SWIFT exclusions. You want to know more about this new list and its use in our apps, read the blog post.
Free Data Flow between the EU and U.S.: Learn about the new Trans-Atlantic Data Privacy Framework
On March 25th, U.S. President Joe Biden and European Commission President Ursula von der Leyen announced that the U.S. and EU have reached an agreement in principle for a new Trans-Atlantic Data Privacy Framework.
EBA assessment of AML/CFT supervision – EBA publishes findings
Recently, the EBA published the findings of their assessment of competent authorities’ approaches to the AML/CFT supervision of banks. We’ve completed the initial work of putting together a summary of the relevant findings. Read the summary or reply to this email to learn more about these findings.
The ESA’s Provide Updates on SFDR
The ESAs (the three European Supervisory Authorities (EBA, EIOPA, and ESMA – ESAs)) have provided an update and clarification on their joint supervisory statement on the application of the Sustainable Finance Disclosure Regulation (SFDR). In our blog, we provide you with a summary overview of the statement.
Changes to the UK PRIIP regime confirmed in a FCA Policy Statement
Shortly after the proposal of the EU Commission above, regulatory movements in relation to the UK PRIIP regime have been made also by the FCA. Read our blog and find out more about the Policy Statement that had been published by the FCA on Friday, March 25th, and how it affects PRIIP manufacturers targeting retail clients in UK.
Further delay to the EU PRIIPs RTS 2.0 amendments proposed by the EU Commission
Following all of the regulatory updates from the EU Commission is a challenging task even for our regulatory watch group. In our latest newsletter regarding EU PRIIPs, we announced the official publication of the PRIIPs RTS 2.0 amendments in the Official Journal of the European Union.
FinDatEx publishes EET V1 and updated EMT V4
Are you familiar with the latest Official version of the European ESG template (EET) and European MiFID Template (EMT V4)? You are wondering how can we generate the EET, while the SFDR and Taxonomy information will only be available in January 2023?
EIOPA Solvency II Roadmap and 2.7 Public Working Draft One
EIOPA has recently released the roadmap taxonomy planning for Solvency II along with the first working public draft of taxonomy 2.7. As expected, based on EIOPA workshop in January, the release dates for the next two taxonomies are communicated - taxonomy 2.7 the purpose of which is to integrate PEPP information into the Solvency II quantitative reporting templates and taxonomy 2.8 which is going to include the changes from Consultation on supervisory reporting and public disclosure that took place in 2019.
FATF: Revision of list of countries under increased monitoring – March 2022
In line with the flexible procedures adopted in February 2021 to allow FATF to continue its monitoring program in light of the COVID-19 pandemic, the FATF has updated its statements for countries under review.
Crisis in Ukraine: all sanctions available on D+1 in our screening tools
Following Russia's recognition of the self-proclaimed republics of Donetsk and Luhansk and the Russian military offensive against Ukraine, the European Union, the United States and the United Kingdom condemned Vladimir Putin's decision, defining the Russian offensive as a "flagrant violation of international law and the Minsk agreements." As a result, they began to implement a program of sanctions against Russia, its institutions and its leaders.
MiFID II Quick Fix Amendments around the corner
The MiFID “quick fix” was introduced by the European Commission in February 2021 as part of the Capital Markets Recovery Package with amendments due to applying from 28 February 2022.
Sanctions: 30 New lists will be added in Q1 with focus on Middle East & North Africa
We have constantly enlarged our global sanction lists catalog and Q1 2022 will show a drastic jump in the sanction’s coverage for the Middle East and Africa. Want to know more about new sanctions lists and how our AML solutions use them, read the Blog Post.
Published EPT V2.0 in final Version
After public consultation, the Financial Data Exchange Templates group (FinDatEx) published the final version of the European PRIIP Template Version 2.0 on 08.02.2022.
The EBA launch draft guidelines regarding remote customer onboarding solutions
The European Banking Authority (EBA) published a public consultation paper on the draft guidelines of remote customer onboarding solutions.
The EBA final guidelines on cooperation between prudential, AML/CFT supervisors and financial intelligence units
The European Banking Authority (EBA) published its final Guidelines setting out how prudential supervisors, anti-money laundering, and countering the financing of terrorism (AML/CFT) supervisors and financial intelligence units (FIUs) should cooperate and exchange information in relation to AML/CFT, in line with the Capital Requirements Directive (CRD).
EET – the final countdown
The FinDatEx (Financial Data Exchange Templates) group launched the final version of the European ESG Template (EET) V1.0 on February 4th, 2022, which is now open for feedback until February 25th , 2022for the FinDatEx ESG group members. The current version of the template can be found here.
docRepository Service Extensions - Review of 2021 Achievements
Before sharing our Service Roadmaps for 2022 with you, we want to take a moment to revisit docRepository achievements of 2021!
New ESMA Guidelines come into force
In December 2021, we informed you about the requirements out of the new guidelines of the European Securities and Markets Authority (ESMA). Next week, the new guidelines will come into force at the beginning of February 2022. You are welcome to read more details about the new guidelines in our blog.
ESMA CONSULTS ON THE REVIEW OF MIFID II SUITABILITY GUIDELINES
ESMA published on January 27th, 2022, a consultation on guidelines on certain aspects of the MiFID II suitability requirements. Do you want to learn more about the highlights of the draft guidelines?
Transparency International: Corruption Perception Index 2021
The Corruption Perception Index of Transparency International is a key element to build our country risks list. This list is used in our AML solutions to consider country risk in the enhanced due diligence of your monitored entities.
Taxonomy Extension: ESG4Insurance Level 1 Documents
The Taxonomy Regulation (EU 2020/852) was adopted in June 2020 and went into effect on 1 June 2022. The Taxonomy Regulation establishes a classification system to identify whether an economic activity can be considered "environmentally sustainable."
The European Commission proposes a review of the Alternative Investment Fund Managers Directive (AIFMD)
The European Commission has published Q&As on the 2021 Capital Markets Union Package from November 25th, 2021, including the legislative proposal to review the Alternative Investment Fund Managers Directive (AIFMD) (Directive 2011/61/EU).
EU PRIIPs 2.0 is now Legislated and in the EU Official Journal
As we wrapped up 2021, we saw several important regulatory updates on the European, UK, and Swiss level that affect PRIIP manufacturers. The latest one is that the Commission Delegated Regulation (EU) 2021/2268 has been officially published to the Official Journal of the European Union on 20 December 2021. This completes the final step necessary for the complete legislation of the EU PRIIP KID regulatory technical standards amendments that were proposed in the past year.
Summary of EIOPA post public consultation regarding Solvency II changes
On the 13th of December, EIOPA held Reporting and Disclosure ITS Amendments 2021 post public consultation. All proposals discussed by EIOPA are not yet final and might be subject to changes, however, they do give a clear indication of the direction that EIOPA is planning to take.
FinSA Regulation updates – the Swiss Federal Council extends the transition period for key information documents
As announced on our previous blogpost in relation to the FinSA regulation, a decision of the Federal Council was expected in relation to the FinSA transition period.
Extension of the UCITS exemption and postponement of the PRIIPs RTS
The European Parliament recently approved an extension of the UCITS exemption, in addition to a six-month postponement of the PRIIPs Regulatory Technical Standards (RTS). As a result of the decision, all PRIIPs manufacturers — including asset managers, banking institutions, and insurance companies — will need to adopt the revised PRIIPs version by January 01st, 2023.
Just launched! deritrade by Vontobel Integration with cleversoft docRepository
Now, you can automatically keep all the documents you need for suitability reports in one place — without the need for time-consuming manual download and upload.
Draft SFDR RTS with Significant Change Postponed to Jan 1st, 2023
The Final Draft SFDR RTS, published on October 22nd, 2021, introduces significant changes compared to the SFDR RTS from March. The main focus is on the template structures, taxonomy-alignment calculations and disclosures as a Do No Significant Harm assessment.
FINMA Sets Strategic Goals Focused on Greenwashing and Climate Risks
In 2020, the Federal Council set the goal of making Switzerland a leading location for sustainable financial services. Therefore, FINMA has set a strategic goal of contributing to the sustainable development of the Swiss financial center by focusing on two topics: climate risks and greenwashing.
Article 20, Paragraphs 1-3 of SFDR go into effect, starting January 1st, 2022
The SFDR (EU 2019/2088) has been in effect since March 10, 2021, which allows Art. 20, Paragraphs 1 to 3 of SFDR, to go into effect starting January 1st, 2022.
An update to the European PRIIPs Template (EPT) V2.0
On September 7th 2021, the European Commission (EC) adopted the revised Regulatory Technical Standards (RTS)11 with regards to the PRIIPs Key Information Document (KID) in all official languages. This delegated regulation has recently been agreed by the European Parliament's Committee on Economic and Monetary Affairs (ECON) and the Council of the European Union to extend the transitional period for the UCITS PRIIP KID requirement until the end of 2022.
Lisa van Bussel Joins cleversoft group Executive Management
There’s a new Managing Director at BusinessForensics, and she is ushering in an era of new energy and renewed dedication to customer success and innovation. On September 24th, Lisa van Bussel, with her well-rounded management, implementation, and consulting experience — in large part with BusinessForensics — was appointed Managing Director.
ECON and the EU Extend UCITS PRIIP KID Requirements
The European Parliament's Committee on Economic and Monetary Affairs (ECON) and the Council of the European Union have recently agreed to extend the transitional period for the UCITS PRIIP KID requirement until the end of 2021.
The UK Financial Conduct Authority (FCA) on Sustainability Disclosure Requirements
On November 3rd 2021, the FCA published a Discussion Paper on Sustainability Disclosure Requirements (SDR) and investment labels (DP21/4). The Discussion Paper sets FCA’s proposal on the following main initiatives...
Updated Timeline for UK PRIIP Proposed Amendments
At the start of this month, the FCA published an update to the proposed amendments for the UK PRIIPs regulation, originally planned to take effect on January 1st, 2022. To help keep you informed, we’ve prepared a detailed description of the FCA update, covering the information that’s important to you.
Online Gambling Included in Dutch Wwft Regulation
On October 1st, 2021, the Dutch market has officially opened for online bets. Earlier this year, the amended Dutch Betting and Gaming Act (Wet op Kansspelen) was published. This regulation, now in effect, gave online gaming service providers the opportunity to apply for a license at the Dutch Gaming Authority (Kansspelautoriteit, KSA).
Final Report on draft SFDR Regulatory Technical Standards
The European Supervisory Authorities (ESAs) just published the final Regulatory Technical Standards — today — regarding the content and presentation of disclosures, pursuant to Article 8(4), 9(6) and 11(5) of the Sustainable Finance Disclosure Regulation (SFDR).
What You Need to Know About The Pandora Papers and the Countries Involved
The release of the Pandora Papers has resurfaced an opportunity to take a closer look at the offshore industry. The Pandora Papers is among the most extensive global financial investigations. It brought together more than 600 journalists from 140 media organizations across 117 nations to pore over nearly 12 million leaked documents from 14 offshore services companies.
A behind the scenes look at our partnership journey with EDISOFT
During implementation, we faced common challenges: processes needed to be changed, imports required adjustments, and the different teams needed to get to know one another. Throughout regular calls, questions were clarified, and information was exchanged. From there, we quickly began to see significant positive developments.
Establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism
Following a number of prominent cases of alleged money laundering taking place at EU credit institutions, the European Commission concluded that reforms were necessary to be more effective and efficient in combatting money laundering and financing of terrorism (AML/CFT).
Insights from Standardization Sessions with FinDatEx EET
If you’re curious what we’ve been up to during the FinDatEx meetings, wonder no more! Today, we are sharing some of our early insights from the FinDatEx meetings, especially from the perspective of being an active, participating member in the EET standardization working group.
Issuer connections for docRepository - Next update on September 30th, 2021
Our team is hard at work, continuing to make updates to the docRepository issuer connections!
Retrieving FinSA KIDs in docRepository
The Swiss Financial Services Act (FinSA) entered into force in 2020 with a two-year transitory period. Providing FinSA KIDs to a retail customer will become mandatory in 2022. The provisions of the regulation apply whenever a financial service is offered in Switzerland, or to end-customers domiciled in Switzerland.
The Final Amendments for the Delegated Regulation of PRIIPs
Earlier this year, we informed our clients when the European Supervisory Authorities (ESAs) submitted a draft Regulatory Technical Standards (RTS) to the EU Commission, combining regulatory technical standards developed under Articles 8(5) and 10(2) of Regulation (EU) No 1286/2014. Later on, we notified clients about the proposal of the EU Commission to amend Regulation (EU) No 1286/2014 to include an extension to July 01st, 2022.
docRepository Microsite Update: September 9th, 2021
The docRepository™ Microsite service is continuously evolving to improve usability and incorporate new features into our standard service.
Proposed Amendments to the UK PRIIPs Regulation
On July 20th, 2021, the FCA published a Consultation Paper (CP21/23) on amending the UK PRIIPs regulation. In the Consultation Paper, the UK PRIIP regime — and the steps the UK is taking, post-Brexit, to amend the related legislations — is outlined.
An Update on Sustainable Finance Disclosure Regulation (SFDR) and cleversoft ESG Services
Update – July 20, 2021: Looking for the latest updates to the Sustainable Finance Disclosure Regulation (SFDR) for your ESG reports? Look no further. At cleversoft, we help you — and our customers — stay on top of the latest regulatory updates, as they happen.
cleversoft group and CDDS Join Forces
Luxembourg/Munich, July 06, 2021 – cleversoft group, the Munich-based RegTech provider for the financial services sector, together with software investor Main Capital, announces the 100% acquisition of CDDS Luxembourg S.A. and CDDS International S.A. (together “CDDS”), a software and data provider group, based in Luxembourg, that specializes in Know your Customer (KYC) and Anti-Money Laundering (AML) solutions.
Free Data Flow between the EU and UK: Learn about the latest GDPR Adequacy Decisions for the UK
As the deadline drew closer to the end of the six-month bridging period, provided under the EU-UK Trade and Cooperation Agreement, the European Commission adopted two adequacy decisions for the United Kingdom: One under the General Data Protection Regulation (GDPR) and the other for the Law Enforcement Directive on the processing of personal data for criminal offenses.
Updated Issuer Connections for docRepository™ — June 24th
Great news! We just made another update to the issuer connections in docRepository™!
New Standard Contractual Clauses (SCCs): What you need to know
On June 7th, new Standard Contractual Clauses (SCCs), for the transfer of personal data to third countries, were published in the Official Journal of the European Union. My team and I are constantly monitoring the evolution of the Regulation EU 2016/679 (General Data Protection Regulation “GDPR”), and here’s what we’ve learned so far about the latest changes.