The Bank of England (BoE) has published a press release announcing the core membership of the independent Market Practitioner Panel (MPP) that is being established to support the fair and effective markets review that is being jointly carried out by the BoE, HM Treasury and the FCA.
There has been published in the Official Journal of the EU (OJ), the text of the Regulation for a Single Resolution Mechanism (SRM Regulation).
The Financial Conduct Authority (FCA) has today published its thematic review on payment for order flow (PFOF) (TR14/13). PFOF is the practice of an investment firm which executes client orders, receiving commission both from clients and from the market maker counterparty.
The Financial Conduct Authority (FCA) has today published its thematic review on best execution (TR14/13). Best execution is fundamental to market integrity and to the delivery of good outcomes for clients who rely on agents to act in their best interests.
The UK Regulators Network (UKRN) has published three discussion papers produced by its Consumer Working Group. These papers cover the following topics:
Following on from the publication of the revised drafts of Parts I and II of the Joint Money Laundering Steering Group (JMLSG) anti-money laundering and counter-terrorist financing guidance last week, amendments have been made to:
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have today published two joint consulation papers that aim to improve individual responsibility and accountability in the banking sector. The PRA has also published a policy statement to this effect. Below we provide a brief overview of all 3 papers, namely a:
The Council of the EU has published a revised text of the Regulation on improving securities settlement and regulating central securities depositories (CSDR) which it adopted on 23 July 2014. The text is a revised version of the text published on 16 July 2014 by the Council of the EU.
The PRA has issued the Senior Management Arrangements, Systems and Controls (Remuneration Code – Clawback) Instrument 2014 ahead of the PRA’s policy statement on clawback that is expected on 30 July 2014.
The Council of the EU has published a revised text of the Directive on undertakings for collective investment in transferable securities (UCITS V Directive) which it adopted on 23 July 2014. The text is a revised version of the text published on 16 July 2014 by the Council of the EU.