Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 published The Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 (SI 2021/920) (Amending Regulations) have been...more
Regulation on the cross-border distribution of CIS: ESMA guidelines for marketing communications The European Securities and Markets Authority (ESMA) has published the official translations (select the "i" for languages other...more
SMCR for FMIs: HM Treasury consultation HM Treasury has published a consultation paper proposing a Senior Managers and Certification Regime (SMCR or SM&CR) for financial market infrastructures (FMIs). The consultation closes...more
8/2/2021
/ Bank of England ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
IOSCO ,
Listing Rules ,
MiFID ,
UK
Benchmarks (Provision of Information and Documents) Regulations 2021 The Benchmarks (Provision of Information and Documents) Regulations 2021 (SI 2021/812) have been published, together with an explanatory memorandum. The...more
UK Solvency II review: PRA CP11/21 on reporting (phase 1) The Prudential Regulation Authority (PRA) has published a consultation paper, CP11/21, on phase 1 of a review of reporting and disclosure requirements under the...more
AIFMD: ESMA guidelines addressing leverage risks The European Securities and Markets Authority (ESMA) has published a webpage with the official translations, including the English language version, of its guidelines to...more
UK CCPs: BoE discussion paper on supervisory stress test framework The Bank of England (BoE) has published a discussion paper on supervisory stress testing of UK central counterparties (CCPs) and announced its first public...more
CMU: European Commission toolkit of indicators for monitoring progress The European Commission has published a staff working document containing a toolkit of indicators for monitoring progress on the Capital Markets Union...more
Regulation on cross-border distribution of investment funds: Commission Implementing Regulation laying down ITS Commission Implementing Regulation (EU) 2021/955 laying down implementing technical standards (ITS) produced...more
UCITS funds: HM Treasury announces extension of PRIIPs exemption -
HM Treasury has announced that the current exemption for Undertakings for the Collective Investment in Transferable Securities (UCITS) funds from the...more
DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls -
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk...more
6/8/2021
/ Clearing Agencies ,
Counterparty Risk ,
CSDR ,
Dear CEO Letter ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Investor Protection ,
MiFID ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Regulation ,
Securitization ,
SFTR ,
UK
SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary,...more
6/7/2021
/ Cryptoassets ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Instruments ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
SMCR ,
UK
US-UK financial regulatory working group joint statement -
HM Treasury has published a joint statement by the US-UK Financial Regulatory Working Group following its fourth meeting, which was held virtually on 20 May 2021....more
EU cross-border distribution of funds: ESMA guidelines on marketing communications -
Following its consultation in November 2020, the European Securities and Markets Authority (ESMA) has published a final report on...more
6/1/2021
/ Alternative Investment Funds ,
Asset Management ,
Collective Investment Schemes ,
ELTIF ,
EU ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Investment Funds ,
Regulatory Agenda ,
UCITS ,
UK
UK EMIR: BoE consults on modifications to DTO to reflect interest rate benchmark reform -
The Bank of England (BoE) has published a consultation paper setting out its proposal to modify the scope of contracts that are...more
EU SSR: ESMA proposes permanently lowering reporting threshold of net short positions - The European Securities and Markets Authority (ESMA) has published an opinion in which it recommends that the European Commission...more
Draft Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021 A draft version of the Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021...more
5/18/2021
/ Capital Requirements Regulation (CRR) ,
CCPs ,
European Securities and Markets Authority (ESMA) ,
FICC Market Standards Board (FMSB) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Greenhouse Gas Emissions ,
IOSCO ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
RTS ,
Special Purpose Acquisition Companies (SPACs) ,
UK
UK SFTR: FCA update on reporting LEIs -
The Financial Conduct Authority (FCA) has updated its webpage on the retained EU law version of the Regulation on reporting and transparency of securities financing transactions ...more
4/19/2021
/ Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Infectious Diseases ,
Legal Entity Identifiers ,
MiFID ,
Regulatory Agenda ,
Regulatory Reform ,
Securities Regulation ,
SFTR ,
UK
Liquidity management in UK open-ended funds: BoE and FCA report -
The Bank of England (BoE) and the Financial Conduct Authority (FCA) have published a report on liquidity management in UK open-ended funds. The report...more
LIBOR transition: FCA and BoE encourage switch to SONIA in sterling non-linear derivatives market -
The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a joint statement announcing that they...more
4/5/2021
/ CSDR ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
FICC Market Standards Board (FMSB) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Regulatory Reform ,
Interest Rates ,
Libor ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Sterling Overnight Index Average (SONIA) ,
UK
Selected regulatory updates of interest to the funds and asset management sector. This edition reports on UCITS liquidity risk management and the EU MMF Regulation. ...more
3/30/2021
/ Asset Management ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Investment Funds ,
Liquidity Risk Management Rule ,
Money Market Funds ,
National Competent Authorities (NCA) ,
Regulatory Agenda ,
UCITS ,
UK
UK MiFIR: FCA update on use of TTP to modify DTO -
The Financial Conduct Authority (FCA) has published an update on the use of its temporary transitional power (TTP) to modify the UK's derivatives trading obligation (DTO). ...more
3/29/2021
/ CCPs ,
Commodities ,
Derivatives ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
MiFIR ,
Regulation Technical Standards (RTS) ,
Regulatory Agenda ,
Securities Regulation ,
SFTR ,
UK
Regulation of UK wholesale financial markets: FCA speech -
The Financial Conduct Authority (FCA) has published a speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy, on a forward look at regulation of...more
Future of UK financial services: Treasury Committee inquiry written evidence -
The House of Commons Treasury Committee has published written evidence to the committee's inquiry into the future of financial services in the...more
3/9/2021
/ European Securities and Markets Authority (ESMA) ,
FATF ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
MiFID II ,
MLD4 ,
Money Laundering ,
Regulatory Agenda ,
Terrorist Financing Regulations ,
UK
Brexit and Debt Capital Markets transactions: some practical perspectives -Following the end of the Brexit transition period, debt capital markets participants may now need to consider both EU rules and the parallel UK rules...more
3/8/2021
/ Capital Markets ,
Crowdfunding ,
Debt Market ,
European Securities and Markets Authority (ESMA) ,
IOSCO ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Securitization ,
UK ,
UK Brexit