FS+ Country Updates – February 2026

• EU: The European Commission advances work on benchmarks and fund governance, including a consultation on exempt FX benchmarks under the BMR and a review of the Shareholder Rights Directive. ESMA has also finalised RTS for open‑ended loan‑originating AIFs.
• Ireland: The Central Bank of Ireland has introduced a streamlined filing process to support UCITS and AIFs implementing AIFMD II, while also updating its fast‑track authorisation process for loan‑originating AIFMs ahead of the April deadline.
• Luxembourg: The CSSF has updated its UCI administrator framework, published clarifications to its FAQs, and tightened consolidation exemption requirements for alternative investment structures under the 1915 Law.
• Canada: Updated Investment Canada Act thresholds raise the bar for review of significant transactions, while the OSC proposes a permanent exemption for certain foreign‑advised investment funds.
• India: SEBI’s new framework requires AIFs to report NAVs via depositories, insurers receive clarity on AIF investment conditions, and proposals aim to broaden access to Social Impact Funds.

…and much more.

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