The Financial Ombudsman Service (FOS) has published its annual review for 2015/16.
Key figures in the annual review include:
Megan Butler has been appointed permanently to the role of Director of Supervision – Investment, Wholesale and Specialists. Previously she had been on secondment from the PRA where she was Executive Director of International Banks Directorate.
View Megan Butler appointed permanent Director of Supervision – Investment, Wholesale and Specialists, 27 May 2016
The FCA has published Handbook Notice No. 33.
This Handbook Notice introduces the FCA Handbook and other material made by the FCA board under its legislative powers on 21 April and 26 May 2016. It also contains information about other publications relating to the Handbook and, if appropriate, lists minor corrections made to previous instruments
The FCA has published on its website an email that it has sent to all firms carrying our currency transfer services. In its email the FCA explains that it is concerned with how some firms are using the interbank rate in currency converter tools, on their websites, and in other promotional and marketing material. It
The Bank of England (BoE) has updated its securities lending and repo committee web page.
The updated web page notes that the Foreign Exchange Working Group of the Bank for International Settlements released the first phase of a global code of conduct for wholesale foreign exchange markets and principles for adherence to the
The European Parliament’s Committee on Economic and Monetary Affairs has published a draft report on the European Commission’s Green Paper on retail financial services (the Green Paper).
The draft report contains a motion for a European Parliament resolution which generally welcomes the Green Paper and the “vivid” and “productive debate” that it has
Article 48(5) of MiFID II provides that Member States shall require a regulated market to be able to halt or constrain trading if there is a significant price movement in a financial instrument on that market or a related market during a short period and, in exceptional cases, to be able to cancel, vary or
On 17 May 2016, the Council of the EU formally adopted the draft Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Benchmarks Regulation). Our blog can be found here.
On 15 February 2016, the European Securities and Markets Authority (
The European Securities and Markets Authority (ESMA) has published a speech given by its executive director, Verena Ross. The speech is entitled The road to MiFID II.
Key points in the speech include:
There has been published in the Official Journal of the EU (OJ), the Commission Implementing Regulation laying down implementing technical standards (ITS) with regard to the content and format of the description of the functioning of multilateral trading facilities (MTFs) and organised trading facilities (OTFs).
The Implementing