Global Trustee and Fiduciary Services Bite-Sized Issue 2 2024

Global Trustee and Fiduciary Services Bite-Sized | Issue 2 | 2024 16 QUICK LINKS AIFMD ANTI-MONEY LAUNDERING CBDC CRYPTOASSETS CYBERSECURITY FINTECH FSB IOSCO MIFID II/MIFIR OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG ASIA EUROPE LUXEMBOURG NETHERLANDS NORTH AMERICA UNITED KINGDOM LUXEMBOURG NewCommunication Means for AIFMReporting as of 31 January 2024 On 31 January 2024, the Commission de Surveillance du Secteur Financier (CSSF) announced that, with immediate effect, an eDesk procedure will be available for alternative investment fund managers (AIFMS) to transmit their AIFM reporting. This new communication method allows professionals to exchange directly with the CSSF, without using the external transmission channels. The user guide available by following the link https://www.cssf.lu/en/Document/aifm-reporting- technical-guidance/ provides information on this new transmission method. The CSSF notes that transmission of AIFM reporting through external transmission channels will remain possible until 30 June 2024. Link to Communique here NETHERLANDS AFM Publishes Agenda 2024 On 15 January 2024, the Dutch Autoriteit Financiële Markten (AFM) published its Agenda 2024, a complete overview of its priorities and other supervisory activities for the coming year. The Agenda 2024 is based in part on the trends and risks set out in the AFM Trend Monitor 2024. In 2024, the AFM says it will prioritise the following objectives. 1. Managing the effects of digitalisation in the market by increasingly using data and technology to supervise technology. » a. The supervision of DORA will be prepared and the supervision of (digital) business operations of institutions reinforced. » b. Data-driven supervision ensures better supervision results. » c. Preparation of the AI Regulation will be completed. 2. Maintain international influence by making targeted contributions to EU regulations and actively improving EU supervision. » a. Prepare for the crypto supervision and generate support in an EU context for effectively countering illegality and solving cross-border issues. » b. Demonstrate within the EU that risk-based and data-driven supervision effectively ensures results. 3. Integrated sustainability strategy. » a. Develop an integrated supervisory strategy for the supervision of sustainability. » b. Connectivity between financial and non-financial data (ESG) will become the standard. » c. The CSRD sustainability implementation will be prepared for 2025. 4. Effectively implement supervisory priorities by introducing the supervision of the pension transition and by combating manipulative trading. » a. Supervision of the pension transition will get off to a successful start. » b. Renewed supervision of financial services will be implemented successfully. » c. Combat manipulative trading with respect to shares, bonds and rawmaterials.