Global Trustee and Fiduciary Services Bite-Sized Issue 9 2024

4 QUICK LINKS AI DORA FUND LIQUIDITY MIFID II/MIFIR SUSTAINABLE FINANCE/ ESG TOKENISATION AUSTRALIA ASIA EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 9 | 2024 Data for the systematic internaliser quarterly calculations The data covers the total number of trades and total volume over the period 1 January 2024 to 30 June 2024. Investment firms are required to perform the SI test by 15 August 2024. The data is now available through FITRS in the XML files with publication date 1 August 2024. The results for equity and equity-like instruments are published only for instruments for which trading venues submitted data for at least 95% of all trading days over the 6-month observation period. The data publications also incorporate OTC trading to the extent it has been reported to ESMA. The publication includes data for instruments traded or available for trading during the reference period considered. Link to Quarterly Liquidity Assessment of Bonds here Link to Data for Quarterly Systematic Internaliser Calculations here SUSTAINABLE FINANCE/ESG ESMA Publishes Translations of its Guidelines on Funds’ Names On 21 August 2024, the European Securities and Markets Authority, published the translations in all official EU languages of its ‘Guidelines on funds’ names using ESG or sustainability-related terms’ (the Guidelines). ESMA states that the Guidelines will start applying three months after this publication, i.e. on 21 November 2024. ESMA also states that within two months of the date of publication of the Guidelines, i.e. on 21 October 2024, national competent authorities must notify ESMA whether they (i) comply, (ii) do not comply, but intend to comply, or (iii) do not comply and do not intend to comply with the guidelines. Further, ESMA says that the transitional period for funds existing before the application date will be six months after that date, i.e. 21 May 2025, and that any new funds created on or after the application date should apply these Guidelines immediately. Link to ESMA’s Final Report here FCAUpdates Sustainability Disclosure and Labelling RegimeWebpagewith Downloadable Labels On 19 August 2024, the Financial Conduct Authority (FCA) updated its sustainability disclosure and labelling regime webpage. The FCA states that the latest update is for distributors who are subject to ESG 4.1.16R – 4.1.19R (under the FCA’s SDR and investment label regime). The FCA says that it provides distributors with access to the investment labels and has information on their terms of use. Also, for further information on the role of distributors, the FCA refers firms to its Policy Statement (PS23/16 PDF) . Finally, the FCA says that it asserts its exclusive rights to the trademarked investment label logos under UK law, prohibiting any unauthorised use, reproduction, or modification without our prior written consent. By downloading the investment label, the FCA says that firms agree to these trademark terms of use. Link to FCA SDR and Labelling Regime Webpage here