About Investment Services Supervision
Securities and Markets Supervision is responsible for overseeing investment services license holders, trading venues, central securities depositaries, recognised private collective investment schemes, etc. The Function is also responsible for the regulation and oversight of activities in capital markets including the processing of applications for admissibility to listing on Regulated Markets and the prevention of financial market abuse.
The Funds Team is responsible for the supervision of collective investment schemes, fund managers, custodians and recognised fund administrators. The Team conducts both desk-based reviews through the review of financial documentation and data analysis, as well as supervision through onsite interactions. The off-site compliance involves engaging with licence holders on a daily basis and monitoring ongoing developments in the operations of the licence holders. Onsite interactions involve the analysis and evaluation of processes, procedures and internal controls maintained by the licensed entities depending on the scoping of the visit, which may vary from broad scope general visits to thematic ones. In particular, the Team is responsible to supervise compliance with the Alternative Investment Fund Managers (AIFMD) and the Undertaking for the Collective Investment in Transferable Securities Directives (UCITS).
The Team also undertakes enhanced supervision of licence holders which either have a history of non-compliance or require close monitoring. In addition, the Team is highly involved in policy matters by providing technical feedback on new legislative proposals.