Podcast: ESMA Report: Undue Pressure on Companies
The European Securities and Markets Authority (ESMA) has published official translations of its guidelines on supervisory practices to prevent and detect market abuse under the Markets in Crypto-Assets Regulation (MiCAR). The...more
The European Securities and Markets Authority (ESMA) has published official translations of its guidelines on the procedures and policies, including the rights of clients, in the context of transfer services for cryptoassets...more
There were some key publications this week in relation to financial crime, including a Commission request for the EBA to advise on standards and guidelines under the future AML/CFT framework in Europe and, in the UK, an HMT...more
This week, among other highlights, Committee on Payments and Market Infrastructures, BIS Innovation Hub, International Monetary Fund and the World Bank issued a joint report for the G20 on the use of Central Bank Digital...more
This week’s update includes, among other key items, the FSB’s report on its evaluation of the effects of too-big-to-fail reforms for systemically important banks. This report, alongside the FSB’s report on Covid-19 support...more
HoL EU Services Sub-Committee report on trade in services On 24 March, the HoL European Union Committee published a new report on UK-EU trade in services. The report concludes that despite the agreement of the Trade and...more
Brexit - FCA provides information on the Temporary Permissions Regime (TPR) On 3 March, the FCA published new webpages providing information on the TPR. Firstly, the FCA published a webpage on how it will supervise firms...more
Brexit - Please see our Brexit financial services webpage, which contains, amongst other things, tables detailing Brexit statutory instruments, equivalence decisions, EEA transitional regimes and UK regulators’...more
PUBLICATIONS - APAC Financial Regulatory Focus: Expected Developments in the Year of the Rat - As we move into the year of the rat, our team across Asia Pacific consider some of the key areas of financial regulatory...more
SEMINARS - You ain’t seen nothin’ yet: countdown to Brexit (27 February) Continuing our series of talks on the implications of Brexit for financial services providers, focusing in particular on EU banks, we will discuss...more
BREXIT - Please see our section on Other Developments for the FCA’s regulation round-up for January which updates on the FCA’s Brexit implementation activities. EC publish slides on the future relationship between the...more
BREXIT - Please see the Markets and Markets Infrastructure section for the publication of Commission Implementing Decision (EU) 2019/2211 on CCP regulatory framework equivalence in the OJ and ESMA’s related amended...more
CAPITAL MARKETS - Please see Conduct for an update on the IOSCO report on conflicts of interests and risks during the debt capital raising process - FCA publish Primary Market Bulletin - On 17 December 2019, the FCA...more
BREXIT - Please see the Consumer/Retail section for an update on the FCA’s Quarterly Consultation Paper, which discusses Brexit-related changes to the Handbook & new EU binding technical standards (BTS) following the...more
CONDUCT - GXFC announce priorities for updating the FX Global Code - On 4 December, the Global Foreign Exchange Committee (GFXC) announced its areas of focus for updating the FX Global Code. The GFXC discussed the feedback...more
BREXIT - EC outlines plans for sustainable finance and proposes extension to the temporary equivalence regime for UK CCPs post-Brexit - On 15 November, the EC published a speech by Mr Dombrovskis, European Commissioner...more
BREXIT - Please refer to the Markets and Markets Infrastructure section for an update regarding the made Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment etc and Transitional...more
BREXIT - Please refer to the Payment Services and Payment Systems section for an update regarding Directions under the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU...more
BREXIT - EEA Joint Committee Decisions - On 18 July, four Decisions of the EEA Joint Committee made on 29 March and five Decisions made on 11 April that amend Annex IX (Financial Services) to the EEA Agreement were...more
BREXIT - ECB updates FAQs on relocating to the euro area in the context of Brexit - On 5 July, the ECB updated its FAQs on the procedures for the relocation of banks to the euro area in the context of Brexit. The new...more
FOS consultation on future funding - On 2 July, the Financial Ombudsman Service (FOS) published a consultation paper on the future of its funding. The FOS proposes to: (i) rebalance the proportion of the income received...more
CAPITAL MARKETS - European capital markets: priorities and challenges - On 25 June, the ECB published dinner remarks from Benoît Cœuré, Member of the Executive Board of the ECB, at the International Swaps and...more
CONDUCT - FMSB statement of good practice on conflicts of interest - On 20 June, the FICC Markets Standards Board (FMSB) published a consultation on a statement of good practice on conflicts of interest....more
BREXIT - PRA Rulebook: (EU Exit) (Amendment) Instrument 2019 - On 13 June, the PRA published an updated version of its April policy statement (PS5/19). PS5/19 has been updated to include a new Appendix B.2A, which sets...more