Ofgem has published a user guide to market participants who wish to register on the Central European Registry of Energy Market participants (CEREMP).
The user guide gives guidance on accessing CEREMP, explaining the process for registering as a market participant and keeping registration details up to date.
ACER has also updated its REMIT Portal so that it now includes a:
HM Treasury has published its response to its October 2014 consultation on the designation of payment systems for regulation by the Payment Systems Regulator (PSR).
The document, which summarises the main issues raised by respondents under the consultation, reiterates the Government’s intention to designate the original eight systems announced in its 2014 Autumn Statement.
HM Treasury has published its response to its November 2014 call for information on digital currencies.
The document summarises the submissions received and outlines the Government’s views and proposed next steps. Amongst other things, the Government intends to:
The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force have announced that they will jointly investigate market misconduct offences such as insider trading and market manipulation, under Part XII of the Securities and Futures Act (SFA), going forward.
This arrangement will enhance the enforcement process and improve
The European Commission (the Commission) has published a speech by Jonathan Hill, European Commissioner for Financial Stability, Financial Services and Capital Markets Union, on contemplated EU legislative measures aimed at improving growth and increasing jobs.
Amongst other things, such measures include:
There has been published on the legislation.gov.uk website the Financial Services and Markets Act 2000 (Regulated Activities) (Transitional Provisions) Order 2015 (the Order) together with an explanatory memorandum.
The Order makes transitional arrangements for the new regulated activity, introduced by the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015, of advising on the conversion or transfer of pension benefits.
The Order will come into force on 6 April 2015.
There has been published on the legislation.gov.uk website the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (the Order) together with an explanatory memorandum.
The Order creates a new regulated activity, with the creation of article 53E in the Financial Services and Markets Act 2000, concerning the giving of advice on the conversion or transfer of a class of pension benefits, known as safeguarded benefits.
The Order will come into force on 6 April 2015.
The European Banking Authority has updated its periodic risk dashboard which summarises the main risks and vulnerabilities in the EU banking sector for Q3 2014.
Amongst other things, the risk dashboard indicates that:
The Payment Systems Regulator (PSR) has announced that any directions in its November consultation paper, which were proposed to come into force on 1 April 2015, will now come into force on 30 April 2015.
The FCA has published Guidance Consultation 15/1: Risks to customers from performance management at firms – Thematic review and guidance for firms (GC15/1).
For the purposes of GC15/1, ‘performance management’ includes formal processes such as appraisals and underperformance procedures, sales targets and other less formal day-to-day interactions and communications between sales staff and managers about sales results that influence behaviour.
The FCA has been made aware of intelligence from whistleblowers and media articles, that in some cases, the changes to reward structures may not have been accompanied by a genuine shift away from a sales-focused culture. Instead, there are indications that in some cases the progress made on financial incentives may have led to an increase in pressure being placed on staff through other means, to achieve sales.
Whilst the FCA has not identified evidence of widespread issues it has found instances of poor practice through its follow-up intelligence from whistleblowers at some firms.