Investment management update - June 2024

20 June 2024

Welcome to the latest edition of our investment management update.

This publication has been tailored to highlight topical news, cases and changes in the law impacting the investment management sector.

Europe ex UK
  • On 30 May 2024, ESMA published a public statement on the use of artificial intelligence (AI) in the provision of retail investment services. The statement provides guidance to investment firms on using AI in light of investment firms’ obligations under the MiFID II Directive (2014/65/EU) and Markets in Financial Instruments Regulation (600/2014) (MiFIR).
  • On 30 May 2024, the Council of the EU published a press release announcing that it has adopted the Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AML Regulation), the Regulation establishing the Anti-Money Laundering Authority (AMLA) (AMLA Regulation) and the Sixth Money Laundering Directive (MLD6).
    Anti-money laundering: Council adopts package of rules 
  • On 13 May 2024, the European Parliament's Economic and Monetary Affairs Committee (ECON) published a report on proposed regulation on a framework for financial data access (FIDA). FIDA envisages financial data sharing across a wide range of financial services and products and third-party access of such data in line with EU data protection and consumer protection rules.