Resolvability Assessment Framework: BoE Dear CEO letter The Bank of England (BoE) has published a letter sent by Dave Ramsden, BoE Deputy Governor for Markets and Banking, to the CEOs of the eight UK banks in the scope of the...more
3/1/2021
/ Bank of England ,
Capital Requirements Regulation (CRR) ,
CDD ,
Crowdfunding ,
Dear CEO Letter ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
RTS ,
UK ,
UK Brexit
UK CCPs: HM Treasury consults on expanded resolution regime -
HM Treasury is consulting on an expanded resolution regime for central counterparties (CCPs). HM Treasury intends to revise and expand the UK CCP resolution...more
3/1/2021
/ Central Counterparties ,
EU ,
EU Benchmark Regulation ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
GameStop ,
IOSCO ,
Libor ,
Market Manipulation ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Stock Trades ,
UK
EMIR: Delegated Regulations on clearing obligation and risk mitigation - The following Delegated Regulations made under the European Market Infrastructure Regulation (EMIR) have been published in the Official Journal of the...more
2/22/2021
/ Commodities ,
Derivatives ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
MiFID ,
MiFID II ,
Regulation Technical Standards (RTS) ,
Regulatory Agenda ,
Risk Mitigation ,
UK
EU ELTIF Regulation review: ESMA letter highlights areas for review - The European Securities and Markets Authority (ESMA) has published a letter it has sent to the European Commission highlighting the areas where it...more
LIBOR cessation: FCA speech - The FCA has published a speech given by Edwin Schooling Latter, FCA Director of Markets and Wholesale Policy, on being ready for life without LIBOR from the end of 2021. ...more
2/2/2021
/ CCPs ,
CSDR ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Inter-Bank Offered Rates (IBORs) ,
Libor ,
Regulatory Agenda ,
Securities Regulation ,
UK
EMIR: European Commission consults on draft Implementing Decisions on equivalence - The European Commission has published for consultation the following draft Implementing Decisions on equivalence made under Article 13(2) of...more
UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more
1/18/2021
/ Cloud Computing ,
Coronavirus/COVID-19 ,
Cryptoassets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Gibraltar ,
Infectious Diseases ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
SMCR ,
UK ,
UK Brexit
UK Short Selling Regulation: notification threshold -
HM Treasury has announced that it intends to lay a statutory instrument under the retained EU law version of the Short Selling Regulation (UK SSR) amending the initial...more
12/21/2020
/ Coronavirus/COVID-19 ,
Cryptocurrency ,
Derivatives ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Infectious Diseases ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Short Selling ,
UK
Selected regulatory updates of interest to the funds and asset management sector. This update reports on ESMA's final report on guidelines addressing leverage risks under the AIFMD.
...more
MMF Regulation: ESMA updates reporting instructions -
The European Securities and Markets Authority (ESMA) has announced that it has updated its validation rules regarding the EU Regulation on money market funds (MMF...more
Bearer Certificates (Collective Investment Schemes) Regulations 2020 -
The Bearer Certificates (Collective Investment Schemes) Regulations 2020 (SI 2020/1346) have been published, together with an explanatory memorandum....more
Recent regulatory developments of interest to financial institutions and markets. Includes updates from the UK FCA, the European Supervisory Authorities and IOSCO, among others. Recent regulatory developments of interest to...more
11/30/2020
/ ACER ,
EMIR ,
EU ,
EURIBOR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Regulatory Agenda ,
REMIT ,
RTS ,
Securitization ,
SFTR ,
UK ,
UK Brexit
UK BMR: FCA approach to orderly wind down of LIBOR and consultation on Statements of Policy -
The UK Financial Conduct Authority has published a document on the Benchmarks Regulation (UK BMR) and proposed amendments under...more
Performance fees in UCITS and certain types of AIFs: ESMA guidelines -
The European Securities and Markets Authority (ESMA) has published the official translations for guidelines on performance fees in UCITS and certain...more
EMIR: ESMA report on post-trade risk reduction services -
The European Securities and Markets Authority (ESMA) has published a report on post-trade risk reduction (PTRR) services under the European Market Infrastructure...more
11/16/2020
/ Capital Markets ,
EMIR ,
EU ,
European Benchmark Regulation (BMR) ,
European Securities and Markets Authority (ESMA) ,
Investor Protection ,
MiFID ,
MiFIR ,
SFTR ,
UK ,
UK Brexit
ISDA 2020 IBOR Fallbacks Protocol -
The International Swaps and Derivatives Association, Inc. (ISDA) has published the ISDA 2020 IBOR Fallbacks Protocol. Our separate client alert, ISDA 2020 IBOR Fallbacks Protocol: What...more
11/10/2020
/ CCPs ,
Coronavirus/COVID-19 ,
CSDR ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Infectious Diseases ,
Inter-Bank Offered Rates (IBORs) ,
Interest Rates ,
ISDA ,
MiFID ,
Securities Regulation ,
SFTR ,
UK ,
UK Brexit
BoE and CFTC MoU for supervision of cross-border clearing organisations -
The Bank of England (BoE) and the US Commodity Futures Trading Commission (CFTC) have signed an updated memorandum of understanding (MoU) regarding...more
10/26/2020
/ Bank of England ,
Central Counterparties ,
CFTC ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Libor ,
RTS ,
Securities Regulation ,
UK ,
UK Brexit
AIFMD review: European Commission consultation -
The European Commission has launched a consultation questionnaire relating to its review of the Alternative Investment Fund Managers Directive (AIFMD)....more
10/26/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Asset Management ,
Capital Markets Union ,
ELTIF ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Key Information Document (KIDs) ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Retail Investors ,
RTS
ESMA guidelines on liquidity stress testing in UCITS and AIFs: FCA comment -
Among other things covered in its latest Regulation round-up, the UK Financial Conduct Authority (FCA) comments on the European Securities and...more
MiFIR: FCA statement on trade reporting and position limit obligations -
The UK Financial Conduct Authority (FCA) has published a statement on trade reporting and position limit obligations under the Markets in Financial...more
Brexit: ESMA to recognise three UK CCPS from 1 January 2021 -
The European Securities and Markets Authority (ESMA) has announced that three central counterparties (CCPs) established in the UK will be recognized as...more
10/6/2020
/ EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Inter-Bank Offered Rates (IBORs) ,
ISDA ,
Libor ,
MiFID ,
MiFIR ,
REMIT ,
RTS ,
Sterling Overnight Index Average (SONIA) ,
UK ,
UK Brexit
COVID-19: FCA and PRA update information on key workers and working from home -
On 24 September 2020, the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) published updated information about...more
9/29/2020
/ ECON ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinCEN ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Remote Working ,
SFDR ,
UK ,
UK Brexit
Brexit: FCA opens registration applications for UK securitisation repositories -
The UK Financial Conduct Authority (FCA) has published a new webpage for securitisation repositories under the Securitisation Regulation that...more
9/29/2020
/ EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FSB ,
Inter-Bank Offered Rates (IBORs) ,
IOSCO ,
ISDA ,
Securitization ,
Trade Repositories ,
UK ,
UK Brexit
FMI supervision: BoE policy statement on fees regime for 2020/21 -
The Bank of England (BoE) has published a policy statement on the fees regime for the supervision of financial market infrastructure (FMI) that will apply...more
9/21/2020
/ Bank of England ,
CCPs ,
EFTA ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Infrastructure ,
ISDA ,
MiFIR ,
Short Selling ,
UK ,
UK Brexit
Annual transparency calculations for non-equity instruments: ESMA grants option to postpone to 21 September 2020 -
The European Securities and Markets Authority (ESMA) has announced that trading venues and investment...more