2024 Issues

2023 Issues

A publication and podcast series that highlights the most recent developments in regulatory topics that may be of interest to your Fund(s) business.

Global Trustee and Fiduciary Services Bite-Sized

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Transcript 

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: UK: FCA Updates its Consumer Duty Webpage One Month Before the New Regime Goes Live UK. FCA Publishes its Liquidity Management Multi-firm Review and Companion Dear CEO Letter Europe: ESAs Consult on the First Batch of DORA Policy Products Europe: European Commission Publishes its Sustainable Finance Package 2023 Global: FSB Consults on a Toolkit for Enhancing Third-party Risk Management and Oversight

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul>
<li>UK: FCA Updates its Consumer Duty Webpage One Month Before the New Regime Goes Live</li>
<li>UK. FCA Publishes its Liquidity Management Multi-firm Review and Companion Dear CEO Letter</li>
<li>Europe: ESAs Consult on the First Batch of DORA Policy Products</li>
<li>Europe: European Commission Publishes its Sustainable Finance Package 2023</li>
<li>Global: FSB Consults on a Toolkit for Enhancing Third-party Risk Management and Oversight</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 7, July 2023

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: Europe: European Commission Proposes Retail Investment Package Global: IOSCO Sets the Standard for Global Crypto Regulation Asia: Prototype of a Green Classification Framework for Hong Kong Europe: ESMA Publishes Report on the Supervision of Asset Valuation

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul>
<li>Europe: European Commission Proposes Retail Investment Package</li>
<li>Global: IOSCO Sets the Standard for Global Crypto Regulation</li>
<li>Asia: Prototype of a Green Classification Framework for Hong Kong</li>
<li>Europe: ESMA Publishes Report on the Supervision of Asset Valuation </li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 6, June 2023

In this eAmanda Hale, Head of Regulatory Services, Global Trustee & Fiduciary Services, Andrew Newson, Senior Fiduciary Analyst, Global Trustee & Fiduciary Services, and Matthew Cherrill, Senior Fiduciary Analyst, Global Trustee & Fiduciary Services, sit down to discuss the latest regualtory highlights. Feaured topics include UK: FCA says Consumer Duty Sets Higher Standards for Financial Services Customers EU: European Commission Adopts European Sustainability Reporting Standards Global: FSB Consults on Policies to Address Vulnerabilities From Liquidity Mismatch in Open-ended Funds Global: IOSCO Proposes Detailed Guidance for Open-ended Fund use of Anti-dilution Liquidity Management Tools Global: FSB Finalises Global Regulatory Framework for Crypto-asset Activities

In this eAmanda Hale, Head of Regulatory Services, Global Trustee &amp; Fiduciary Services, Andrew Newson, Senior Fiduciary Analyst, Global Trustee &amp; Fiduciary Services, and Matthew Cherrill, Senior Fiduciary Analyst, Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regualtory highlights.
Feaured topics include
<ul type="disc">
<li>UK: FCA says Consumer Duty Sets Higher Standards for Financial Services Customers</li>
<li>EU: European Commission Adopts European Sustainability Reporting Standards</li>
<li>Global: FSB Consults on Policies to Address Vulnerabilities From Liquidity Mismatch in Open-ended Funds</li>
<li>Global: IOSCO Proposes Detailed Guidance for Open-ended Fund use of Anti-dilution Liquidity Management Tools</li>
<li>Global: FSB Finalises Global Regulatory Framework for Crypto-asset Activities</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized  Issue 8, August 2023

Transcript

Amanda Hale and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: UK: FCA Finds Fund Managers’ Value Assessments Significantly Improved, But Still Work To Do Hong Kong: Regulators Publish a New Roadmap to Promote Fintech Adoption in Financial Services Sector Luxembourg: CSSF Issues a Thematic Review on the Implementation of Sustainability-related Provisions in the Investment Fund Industry US: SEC Reopens Comment Period for Enhanced Safeguarding Rule for Registered Investment Advisers Proposal US: SEC Adopts New Rules and Rule Amendments as it Enhances the Regulation of Private Fund Advisers

Amanda Hale and Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>UK: FCA Finds Fund Managers&rsquo; Value Assessments Significantly Improved, But Still Work To Do</li>
<li>Hong Kong: Regulators Publish a New Roadmap to Promote Fintech Adoption in Financial Services Sector</li>
<li>Luxembourg: CSSF Issues a Thematic Review on the Implementation of Sustainability-related Provisions in the Investment Fund Industry</li>
<li>US: SEC Reopens Comment Period for Enhanced Safeguarding Rule for Registered Investment Advisers Proposal</li>
<li>US: SEC Adopts New Rules and Rule Amendments as it Enhances the Regulation of Private Fund Advisers</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized  Issue 9, September 2023

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: Netherlands: AFM Says Pay Ongoing Attention to Sufficient LMTs and Correct AIFMD Reporting US: SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names EU: European Commission Launches Consultations on SFDR Global: Taskforce on Nature-related Financial Disclosures Publishes Final Recommendations UK: FCA and PRA Propose Measures to Boost Diversity and Inclusion in Financial Services

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include: 
<ul style="margin-bottom: 0in; margin-top: 0px;" type="disc">
<li style="line-height: 16.5pt; margin-top: 0in; margin-right: 0in; margin-bottom: 0in; font-size: 11pt;">Netherlands: AFM Says Pay Ongoing Attention to Sufficient LMTs and Correct AIFMD Reporting</li>
<li style="line-height: 16.5pt; margin-top: 0in; margin-right: 0in; margin-bottom: 0in; font-size: 11pt;">US: SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names</li>
<li style="line-height: 16.5pt; margin-top: 0in; margin-right: 0in; margin-bottom: 0in; font-size: 11pt;">EU: European Commission Launches Consultations on SFDR</li>
<li style="line-height: 16.5pt; margin-top: 0in; margin-right: 0in; margin-bottom: 0in; font-size: 11pt;">Global: Taskforce on Nature-related Financial Disclosures Publishes Final Recommendations</li>
<li style="line-height: 16.5pt; margin-top: 0in; margin-right: 0in; margin-bottom: 0in; font-size: 11pt;">UK: FCA and PRA Propose Measures to Boost Diversity and Inclusion in Financial Services</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 10, October 2023

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: Europe: ESMA Consults on the Potential Impact of Shortening the Standard Settlement Cycle US: SEC’s Division of Examinations Announces 2024 Priorities Singapore: MAS Publishes Information Paper on Strengthening Liquidity Risk Management Practices for Fund Management Companies UK: Updating and Improving the UK Regime for Asset Management: The FCA’s Priorities Europe: ESMA Encourages Preparations for a Smooth Transition to MiCA

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>Europe: ESMA Consults on the Potential Impact of Shortening the Standard Settlement Cycle</li>
<li>US: SEC&rsquo;s Division of Examinations Announces 2024 Priorities</li>
<li>Singapore: MAS Publishes Information Paper on Strengthening Liquidity Risk Management Practices for Fund Management Companies</li>
<li>UK: Updating and Improving the UK Regime for Asset Management: The FCA&rsquo;s Priorities</li>
<li>Europe: ESMA Encourages Preparations for a Smooth Transition to MiCA</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 11, November 2023

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: UK FCA Issues Policy Statement on Sustainability Disclosure Requirements and Investment Labels, and Consults on Guidance EU: ESMA Announces Intent to Recognise Cyber Risk as a New Union Strategic Supervisory Priority Irish Central Bank Publishes Individual Accountability Framework Standards and Guidance Financial Stability Board Publishes Toolkit for Enhancing Third-party Risk Management and Oversight Technology Working Group Publishes Interim Report on UK Fund Tokenisation: A Blueprint for Implementation

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>UK FCA Issues Policy Statement on Sustainability Disclosure Requirements and Investment Labels, and Consults on Guidance</li>
<li>EU: ESMA Announces Intent to Recognise Cyber Risk as a New Union Strategic Supervisory Priority</li>
<li>Irish Central Bank Publishes Individual Accountability Framework Standards and Guidance</li>
<li>Financial Stability Board Publishes Toolkit for Enhancing Third-party Risk Management and Oversight</li>
<li>Technology Working Group Publishes Interim Report on UK Fund Tokenisation: A Blueprint for Implementation</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 12, December 2023

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi’s Global Trustee & Fiduciary Services, sit down to discuss the latest regulatory highlights. This edition's featured topics include: Europe: Council of the EU Agrees its Negotiating Mandate on the Benchmarks Regulation Singapore: MAS Launches World’s First Multi-Sector Transition Taxonomy UK: FCA Seeks Views on Regulatory Approach for Overseas Funds Regime Europe: ESAs Issue Public Consultation on the Second Batch of DORA Policy Products Global: FSB and IOSCO Publish Policies to Address Vulnerabilities from Liquidity Mismatch in Open-ended Funds

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>Europe: Council of the EU Agrees its Negotiating Mandate on the Benchmarks Regulation</li>
<li>Singapore: MAS Launches World&rsquo;s First Multi-Sector Transition Taxonomy</li>
<li>UK: FCA Seeks Views on Regulatory Approach for Overseas Funds Regime</li>
<li>Europe: ESAs Issue Public Consultation on the Second Batch of DORA Policy Products</li>
<li>Global: FSB and IOSCO Publish Policies to Address Vulnerabilities from Liquidity Mismatch in Open-ended Funds</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 1, January 2024

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Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li style="font-size: 24px;">Hong Kong: SFC Sets Out Three-year Strategic Priorities</li>
<li style="font-size: 24px;">Europe: ESMA Consults on Reverse Solicitation and Classification of Crypto-assets as Financial Instruments Under MiCA</li>
<li style="font-size: 24px;">Europe: ESAs Publish DORA ICT and Third-party Risk Management and Incident Classification Technical Standards</li>
<li style="font-size: 24px;">Netherlands: AFM Publishes Agenda 2024</li>
<li style="font-size: 24px;">UK: EEA UCITS Assessed As Equivalent Under Overseas Fund Regime</li>
</ul>

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
&nbsp;

Global Trustee and Fiduciary Services Bite-Sized Issue 2, February 2024

TRANSCRIPT

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>US: SEC and CFTC Adopt Amendments to Enhance Private Fund Reporting</li>
<li>Singapore Moves Ahead to Establish the ASEAN Regional Computer Emergency Response Team to Strengthen Regional Cybersecurity</li>
<li>European Council Adopts New Rules for Alternative Investment Funds and UCITS</li>
<li>Switzerland: FINMA Introduces New Limited Qualified Investor Fund</li>
<li>UK: FCA Publish Consumer Duty Implementation Review and Autumn 2023 Firm Survey Results</li>
</ul>

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.

Global Trustee and Fiduciary Services Bite-Sized Issue 3, March 2024

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>EU: ECON MEPs Vote to Boost Citizens&rsquo; Involvement in Financial Markets</li>
<li>Hong Kong Government Issues Vision Statement on Developing Sustainability Disclosure Ecosystem</li>
<li>Luxembourg: CSSF Publishes its Supervisory Priorities in Terms of Sustainable Finance</li>
<li>US: SEC Publishes Report on its Diversity, Equity, Inclusion and Accessibility Initiatives and Progress</li>
<li>UK: Accelerated Settlement Taskforce Publishes Report</li>
</ul>

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.

Global Trustee and Fiduciary Services Bite-Sized Issue 4, April 2024

TRANSCRIPT 

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>Europe: ESMA Asks for Input on Assets Eligible for UCITS</li>
<li>UK FCA: A Roadmap to Implementing the Overseas Funds Regime</li>
<li>US SEC Staff Publishes New Registered Fund Statistics Report</li>
<li>Hong Kong: SFC Announces Three-year Extension of Grant Scheme for OFCs and REITs</li>
<li>UK: FCA Confirms Anti-greenwashing Guidance and Proposes Extending Sustainability Framework to Portfolio Management Services</li>
</ul>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Global Trustee and Fiduciary Services Bite-Sized Issue 5, May 2024

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li style="font-size: 16px;">US: SEC Adopts Amendments to Regulation S-P to Enhance Protection of Customer Information</li>
<li style="font-size: 16px;">EU: ESMA Provides Guidance to Firms Using Artificial Intelligence in Investment Services</li>
<li style="font-size: 16px;">EU: ESMA Guidelines Establish Harmonised Criteria for use of ESG and Sustainability Terms in Fund Names</li>
<li style="font-size: 16px;">Hong Kong: SFC Welcomes Industry-led Public Consultation on Voluntary Code of Conduct for ESG Ratings and Data Products Providers</li>
<li style="font-size: 16px;">UK: &nbsp;New FCA Webpage - Operational Resilience: Insights and Observations for Firms</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 6, June 2024

Issue 7 

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<ul type="disc">
<li>US SEC Office of the Investor Advocate Delivers Report to Congress on Objectives for Fiscal Year 2025</li>
<li>Global: IOSCO Publishes Good Practices to Improve Trading Venues&rsquo; Resilience in Case of Market Outages</li>
<li>Australian Government Publishes its Sustainable Finance Roadmap</li>
<li>European Supervisory Authorities Propose Improvements to the SFDR</li>
<li>UK FCA Updates its Consumer Duty Webpage &ndash; Information for Firms &ndash; Annual Board Reports</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue

 https://www.citigroup.com/rcs/citigpa/storage/public/transcript_bs_ issue_ 7_podcast.pdf

Global Trustee and Fiduciary Services Bite-Sized Issue 7, July 2024

Banking Services

Securities Services

Services

Issue 8

Amanda Hale and Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>ESAs Update Q&amp;As on SFDR and SFDR Delegated Regulation</li>
<li>ESMA Sets Out its Long-term Vision on the Functioning of the Sustainable Finance Framework</li>
<li>SFC Sets Clear Timeline for Implementing an Uncertificated Securities Market in Hong Kong</li>
<li>FCA Seeks to Reduce Burdens on Firms and Support Growth</li>
<li>ESMA Consults on Liquidity Management Tools for Funds</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 8

Amanda Hale and Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.

/rcs/citigpa/storage/public/Services_BS8 Podcast_Final_transcript.pdf

Global Trustee and Fiduciary Services Bite-Sized Issue 8, August 2024

Issue 9

Amanda Hale and Andrew Newson, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:
<ul type="disc">
<li>US: SEC Adopts Reporting Enhancements for Registered Investment Companies and Provides Guidance on Open-End Fund Liquidity Risk Management Programs</li>
<li>Hong Kong: SFC Welcomes Launch of Project Ensemble Sandbox as Key Step in Hong Kong&rsquo;s Tokenisation Development</li>
<li>Europe: ESRB Responds to ESMA Consultation on Draft RTS and Guidelines on Liquidity Management Tools</li>
<li>Luxembourg: CSSF Launch DORA Readiness Survey</li>
<li>UK: FCA Updates Sustainability Disclosure and Labelling Regime Webpage with Downloadable Labels</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 9

Amanda Hale and Andrew Newson, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.

/rcs/citigpa/storage/public/BS9 Podcast_Final.pdf

Global Trustee and Fiduciary Services Bite-Sized Issue 9, September 2024

Enabling Issuers and Investors across the entire investment lifecycle.

Issue 

Amanda Hale, Andrew Newson and Matthew Cherrill, of Citi&rsquo;s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.
This edition's featured topics include:&nbsp; &nbsp; &nbsp; &nbsp;
<ul type="disc">
<li>ECB Says TIBER-EU Will Help Fulfil DORA Requirements</li>
<li>UK Accelerated Settlement Taskforce Technical Group Issues T+1 Interim Report and Consultation</li>
<li>SEC Adopts Improvements to EDGAR System</li>
<li>FCA Sets Out Temporary Measures for Firms on &lsquo;Naming and Marketing&rsquo; Sustainability Rules</li>
<li>FCA Update on Extending the SDR Regime to Portfolio Management</li>
</ul>

Global Trustee and Fiduciary Services Bite-Sized Issue 10

/rcs/citigpa/storage/public/Bite-Sized_Issue_10_Transcript.pdf

Global Trustee and Fiduciary Services Bite-Sized Issue 10, October 2024

Issue 11

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi’s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.This edition's featured topics include:<o:p></o:p><o:p></o:p><ul style="list-style-type:disc;" type="disc"><li>U.S SEC’s Division of Examinations Announces 2025 Priorities<o:p></o:p></li><li>Europe: ESMA, ECB and European Commission Announce Next Steps for the Transition to T+1<o:p></o:p></li><li>UK FCA Consult on Investment Research Payment Optionality for Fund Managers<o:p></o:p></li><li>Hong Kong SFC: Encouraging Progress Made in Asset Management Pilot Use Case in the Project Ensemble Sandbox<o:p></o:p></li><li>Luxembourg: CSSF Communiqué to the Investment Fund Industry in Relation to the ESMA Guidelines on Funds’ Names Using ESG or Sustainability-related Terms<o:p></o:p></li></ul><o:p>&nbsp;</o:p><o:p></o:p>

Global Trustee and Fiduciary Services Bite-Sized Issue 11

Amanda Hale,&nbsp;Andrew Newson and&nbsp;Matthew Cherrill, of Citi’s Global Trustee &amp; Fiduciary Services, sit down to discuss the latest regulatory highlights.

Global Trustee and Fiduciary Services Bite-Sized

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