The European Securities and Markets Authority (ESMA) has published the official translations of its guidelines on reporting obligations under articles 3 and 24 of the Alternative Investment Fund Managers Directive (AIFMD).
The European Central Bank (ECB) has published a comprehensive stress test manual which covers both parts of the comprehensive assessment of banks deemed significant under the single supervisory mechanism. The two parts of the ECB’s comprehensive assessment are:
We have recently published the latest edition of our Banking Reform Updater (issue 8).
On 9 July 2014, the FCA published a speech given by Mary Starks (Director of Competition, FCA) entitled Competition and investment banking.
The FCA has published Finalised Guidance 14/7: Primary Market Bulletin No.6 and Primary Market Bulletin No.7 (FG14/7).
The FCA has published Guidance Consultation 14/5: Primary Market Bulletin No.8 (GC14/5).
The UKLA knowledge base is a repository of non-Handbook technical commentary that has the status of formal FCA guidance. In GC14/5, the UKLA is proposing to add six new notes, amend nine existing notes and delete one existing note from the knowledge base.
The European Securities and Markets Authority (ESMA) has published a final report on guidelines and recommendations on implementing the CPSS-IOSCO Principles for Financial Market Infrastructure in respect of central counterparties (CCPs).
The FCA has published Guidance Consultation 14/6: Social media and customer communications: the FCA’s supervisory approach to financial promotions in social media (GC14/6).
In GC14/6, the FCA seeks to clarify its approach to the supervision of financial promotions in social media.
The UK Department of Energy and Climate Change has published a Consultation Paper setting out proposals for new criminal offences which will give the UK’s energy regulators power to prosecute individuals and corporates suspected of abusing the wholesale energy markets. The proposed offences are designed to bolster the deterrent against market abuse in wholesale energy markets, where currently only civil sanctions apply. The deadline for responding to the Consultation Paper is 30 September 2014. The Government proposes that the offences could be brought into force as early as March 2015.
The International Organization of Securities Commissions has unveiled an information repository for central clearing requirements for over-the-counter derivatives, which provides regulators and market participants with consolidated information on the clearing requirements of different jurisdictions.