The AIFMD Q&As include three new questions and answers on:

• Reporting to National Competent Authorities (NCAs) on the breakdown between retail and professional investors;

• Notification of AIFMs on the AIFs to be managed, if domiciled in another Member State; and

• Use by an AIF of the exemption for intragroup transactions under Article 4(2) of Regulation (EU) 648/2012 (EMIR), if subject to the clearing obligation of Article 4(1) of EMIR.

The UCITS Q&As include one new question and answer on:

• Application to UCITS of the exemption for intragroup transactions under Article 4(2) of Regulation (EU) 648/2012 (EMIR), if subject to the clearing obligation of Article 4(1) of EMIR.

The purpose of these Q&A documents is to promote common supervisory approaches and practices of both the AIFMD and the UCITS Directive and their implementing measures.

Today the European Parliament and the Council reached an agreement on our proposal to fully fund reconstruction operations after natural disasters with the European Regional Development Fund. This compromise foresees an exceptional co-financing rate of 95%.

I regret that the Commission’s original proposal of a 100% co-financing rate for such operations was not retained. At the same time, the compromise will now allow the much-needed funding to swiftly reach areas affected by natural disasters.

I think about Italy, whose regions were repeatedly hit by terrible earthquakes over the past year and again in January. On several occasions, President Juncker expressed his admiration for the Italian people, who showed extraordinary courage in the darkest hours, and the EU’s determination to support full reconstruction.

Today’s compromise demonstrates the EU’s readiness to stand by our citizens, when they most need support. Natural disasters can occur anywhere and anytime. This is why it was important for us to ensure that this special EU support can be activated as of day one, to supplement EU Solidarity Fund assistance. By increasing the EU’s financial contribution to the reconstruction works, it will also spare national resources.

Our proposal is a tangible expression of European solidarity. In the face of great difficulty, Member States shall have no doubt that the EU cares and is ready to use all available resources to provide immediate relief and to start rebuilding, together.

The Council agreed on a new system for resolving double taxation disputes between member states. Ministers also discussed a proposal for a common corporate tax base (CCTB) in the EU, aimed at reducing the administrative burden of multinational companies. 

The Council agreed on a new system for resolving double taxation disputes between member states. Ministers also discussed a proposal for a common corporate tax base (CCTB) in the EU, aimed at reducing the administrative burden of multinational companies.