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Health Canada identifies lithium-ion batteries, infant bath seats, and water beads as hazards of concern
Health Canada has recently identified three new classes of products that pose a hazard of concern.
Luxembourg | Publication | February 2023
The CSSF is launching a data collection exercise targeting the following Luxembourg-domiciled financial market participants (the FMPs):
i. UCITS management companies;
ii. investment companies which did not designate a management company within the meaning of Article 27 of the Law of 17 December 2010 relating to undertakings for collective investment;
iii. authorised AIFMs, including internally managed alternative investment funds within the meaning of point (b) of Article 4(1) of the Law of 12 July 2013 on alternative investment fund managers;
iv. managers of a qualifying venture capital fund registered in accordance with Article 14 of Regulation (EU) No 345/2013; and
v. managers of a qualifying social entrepreneurship fund registered in accordance with Article 15 of Regulation (EU) No 346/2013,
in relation to the requirements set forth by Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (SFDR), as supplemented by Commission Delegated Regulation (EU) of 2022/1288 of 6 April 2022 (CDR and together with SFDR, the SFDR Rules).
For that purpose, the CSSF requests the above listed FMPs to complete a questionnaire with respect to the integration of sustainability risks in the organizational arrangements of FMPs, notably in terms of human resources and governance, investment decision or advice process, remuneration and risk management policies and the management of conflicts of interest (the Questionnaire). Please refer to the SFDR Rules, the Commission Delegated Regulation (EU) 2021/1255 of 21 April 2021, the Commission Delegated Directive (EU) 2021/1270 of 21 April 2021 for more information in that respect.
The Questionnaire shall be submitted by an eDesk user linked to the relevant FMP by 2 March 2023.
Please note that, even if the scope of the Questionnaire seems - in its current form - limited to certain topics relating directly to the FMPs, it should be extended at some point in order to collect information contained in the PAI statements and in the pre-contractual and periodic disclosure templates pursuant to the CDR relating to financial products.
Please further note that the launch of a Common Supervisory Action exercise (CSA) in relation to sustainability risks and disclosures is still under discussion at ESMA level but it contemplated to start in the course of 2023 and will be focusing on both SFDR Level 1 and Level 2 provisions, as well as the requirements outlined in the ESMA Supervisory Briefing on Sustainability risks and disclosures in the area of investment management.
Do not hesitate to contact us if you need our help on the Questionnaire, the SFDR Rules and/or your ESG framework generally, we would be happy to put you in touch with our experts who can provide both local and global assistance.
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An employer’s ability to ask for a sick note when an employee is absent from work due to illness is becoming increasingly curtailed across Canada.
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Over the past two years, Spain has significantly strengthened its foreign investment screening mechanism, and all acquisitions by foreign investors (as defined below) of a Spanish entity active in a strategic sector are subject to prior authorisation by the Ministry of Industry, Commerce and Tourism (“MoICT”).
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