Podcast — UK FinReg Focus Areas in 2025: Wholesale Markets
Brexit & Financial Services: Preparing for the End of the Transition Period
The European Securities and Markets Authority (ESMA) has published a final report in relation to certain changes being made as a result of the MiFID II/MiFIR review, together with an accompanying press release. The changes...more
The European Securities and Markets Authority (ESMA) has published a final report in relation to the draft regulatory technical standards (RTS) specifying criteria for establishing and assessing the effectiveness of...more
The FCA has fined Infinox Capital, a London-based broker, for breach of MiFIR transaction reporting requirements. Infinox failed to submit reports for some 46,053 transactions executed by its single-stock CFD (contract for...more
31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more
The European Commission adopted its Retail Investment Package on 24 May 2023 as part of its 2020 Capital Markets Union Action Plan. The main objective is to strengthen the protection of retail investors in the European Union...more
MiFIR / MiFID II: The European Parliament published a press release announcing it has reached provisional political agreement with the Council of the EU on the proposed amendments to the Markets in Financial Instruments...more
On 1 December 2022, the Central Bank of Ireland (the “Central Bank”) published its consultation paper CP152 on own funds requirements for UCITS management companies and AIFMs authorised for discretionary portfolio management...more
The European Securities and Markets Authority has published new Guidelines on the appropriateness and execution-only requirements under the revised Markets in Financial Instruments Directive. The appropriateness requirements...more
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2022 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
The European Commission has finalised its proposed ESG-related changes to MiFID II. These are intended to fit together with SFDR, and are part of a suite of ESG related changes being made via amends to AIFMD, the UCITS...more
On 19 April 2021, the Financial Conduct Authority (“FCA”) published the second out of three consultation papers on the implementation of the Investment Firms Prudential Regime (“IFPR”) (CP21/7). The IFPR is a new UK...more
With the end of the Brexit transition period looming, many financial services firms are asking what they need to do between now and the end of the year to ensure regulatory compliance. In this episode of our Connected With...more
Regulation (EU) 2019/2033 on the prudential requirements of investment firms and Directive (EU) 2019/2034 on the prudential supervision of investment firms (collectively, "IFR/IFD Framework") significantly change the...more
The European Commission recently launched a consultation on a proposal that would allow investment firms to rebundle payments for research on small- and mid-cap issuers and fixed income instruments, to aid in the recovery...more
On 5 June 2020, the European Securities and Markets Authority (ESMA) published its final guidelines on certain aspects of the recast Markets in Financial Instruments Directive (MiFID II) compliance function requirements (the...more
On 3 June 2020, the European Securities and Markets Authority (ESMA) published two Opinions clarifying how European Union investment firms trading financial instruments on third-country trading venues (TCTVs) should, from 3...more
The Markets in Financial Instruments Directive (“MiFID II”), which came into effect on 3 January 2018, is a European legislation, consisting of two parts, the MiFID II directive (2014/65/EU) and the MiFIR regulation...more
The European Union’s financial regulatory regime for third-country access in many sectors relies on a framework of “equivalence,” whereby institutions based in approved non-EU countries with similar standards may have varying...more
The European Commission has launched a consultation on reviewing the EU Markets in Financial Instruments package. The Markets in Financial Instruments Directive and Markets in Financial Instruments Regulation have applied...more
2 December - The Financial Conduct Authority ("FCA") updated the following webpages: - webpage on its July 2018 discussion paper on price discrimination in the cash savings market (PD18/6); and - webpage on its...more
What is it? The EU has finalised and issued a new framework for the prudential regulation of investment firms. It will set new classification for investment firms that will in turn determine which of the new capital...more
SEC/CORPORATE – SEC Proposes to Modernize Business, Legal Proceedings and Risk Factor Disclosures Required by Regulation S-K – On August 8, the Securities and Exchange Commission proposed amendments to modernize the...more
The European Securities and Markets Authority has launched a call for evidence on the impact of the inducements and costs and charges disclosure requirements under the revised Markets in Financial Instruments Directive. MiFID...more
The European Securities and Markets Authority has launched a consultation on the development of pre- and post-trade transparency data and the functioning of the consolidated tape for equity instruments under the revised...more
The European Securities and Markets Authority has announced that it will launch a common supervisory action in the second half of 2019 on the application of the appropriateness requirements under the revised Markets in...more