Global Trustee and Fiduciary Services News and Views Issue 50

2 0 2 0 2 0 2 1 2 0 2 2 Securitization Regulation: Commission to report on the functioning and effectiveness of the Regulation — 1 Jan 2022 MiFIR: Commission to report on Art. 37 – 3 July 2021 MLD5: Commission to report on implementation of the Directive —  11 Jan 2022 (and every 3 years thereafter) Benchmarks Regulation: Commission to report on functioning and effectiveness of the Directive – 1 Jan 2020 ELTIF Regulation: Commission to review — by 9 June 2019 MiFIR: Commission to report on elements under Arts (3-13, 25, 26, 28, 35 and 36) – 3 July 2019 SFTR Phase 1 reporting obligation (investment firms): 12 months after proposed adoption of technical standards — expected 20 Dec 2019 Insurance Distribution Directive: Commission to review application of Directive – 23 Feb 2021 MiFID II: Commission reports on Art. 65(2) — 3 Sept 2020 GDPR: Commission to review and report on functioning of the Regulation — by 25 May 2020 and every 4 years thereafter MLD5: to be implemented – by Jan 2020 Market Abuse Regulation: Commission to report on application – 3 July 2019 SFTR phase 3 reporting obligation (AIFs and UCITS): 18 months after proposed adoption of technical standards —  expected 20 June 2020 MMFR: Commission to review adequacy of Regulation —  by 21 July 2022