Global Trustee and Fiduciary Services Bite-Sized Issue 3 2025

14 QUICK LINKS CRYPTOASSETS CSDR EMIR FINTECH FSB OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA PACIFIC EUROPE IRELAND LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 3 | 2025 European Commission Seeks Feedback on Savings and Investments Union On 3 February 2025, the European Commission (EC) launched a call for evidence (CfE) to collect input on its overall approach to the Savings and Investments Union (SIU). The EC says that the purpose of the CfE is to gather views, facts and evidence from consumers and stakeholders on progress made on the Capital Markets Union (CMU), as well as identifying significant challenges that the SIU should address. The EC says that, building on the achievements of the CMU and Banking Union, the SIU is a key initiative to strengthen EU prosperity and competitiveness. It aims at developing a strategy for supporting household wealth creation by increasing the returns on savings of EU citizens (in a risk appropriate manner), while widening the financing opportunities for businesses. It encompasses capital markets and the banking sector, as well as retail investment, and is considered a crucial enabler of competitiveness in the EU Competitiveness Compass. It aims to unlock funds to boost the EU’s sustainable competitiveness, support innovation, drive the clean transition and promote digital and tech diffusion. It will focus on increasing returns on savings for EU citizens and financing opportunities for businesses. To achieve this, the EC plans to present a comprehensive strategy on the SIU, aiming to ensure that all Member States and stakeholders benefit from strong, integrated financial markets, together with well-developed domestic markets. The CfE response period ended on 7 March 2025. The EC says contributions will be taken into account when drafting the Communication on the SIU, expected in the first quarter of 2025. Link to the Call for Evidence here IRELAND Central Bank of Ireland Sets out its Regulatory and Supervisory Priorities for 2025 On 28 February 2025, the Central Bank of Ireland (CBI) published its Regulatory and Supervisory Outlook encompassing its risk assessment and priorities for the period ahead. The report sets out the CBI’s views and supervisory agenda and is intended to assist financial firms in their own engagement with the CBI and its expectations of them. The report follows Governor Makhlouf ’s letter to theMinister for Finance setting out the CBI’s financial regulation priorities for the year ahead and the introduction of the CBI’s new supervisory approach. Link to Letter to the Minister for Finance here Link to New Supervisory Approach here Link to Outlook here LUXEMBOURG Simplified Procedure for the Creation of New Share Class(es) On 12 February 2025, the Commission du Surveillance du Secteur Financier published the new simplified procedure for creating new share classes that do not require a prospectus update. This procedure applies to UCITS, UCI part II, SIFs, and SICARs. From the date of issue, the simplified procedure applies to new share classes whose characteristics are already defined in the current version of the fund’s prospectus. For that purpose, submissions must adhere to the principles outlined in the dedicated form and include all relevant information about the share classes using the standardised table. Link to Communiqué here