Regulation

ING announced that it has completed the agreement with the Dutch State on the unwinding of the Illiquid Assets Back-up Facility (IABF) as announced on 1 November 2013. The IABF in its original form is now terminated and all regular guarantee fee payments have been settled.

Amundi Alternative Investments SAS (Amundi AI), a wholly-owned subsidiary of Amundi, has obtained AIFM authorisation from the French securities regulator (Autorité des Marchés Financiers) for all of its investment solutions. The AIFM directive, transposed by the EU member states on 22 July, regulates alternative fund managers for the first time as part of a dedicated framework.

Deutsche Bank announced today that, as part of a collective settlement, it has reached agreement with the European Commission on a resolution of its investigations into the submission of interbank offered rates.

The European Securities and Markets Authority (ESMA) has published a Report identifying a number of deficiencies in the processes for producing and issuing sovereign ratings at the three largest credit rating agencies (CRAs), Fitch Ratings, Moody’s Investors Service and Standard & Poor’s.

The report also analyses the important role employers, advisers and intermediaries have to play in a changing financial services landscape.