On April 7, 2016, the European Commission adopted a Delegated Directive supplementing MiFID II as regards the safeguarding of financial instruments and funds, product governance obligations and inducements.
We have published a short video which picks out a few highlights from the Delegated Directive. The video can be viewed here
We have published a short video on the senior managers’ regime and its impact on non-executive directors. The video can be viewed here
In July 2015 the Governors of the Bank for International Settlements (BIS) announced the establishment of a Foreign Exchange Working Group (FXWG) which would strengthen code of conduct standards and principles in foreign exchange markets.
The FXWG has announced that the first part of the Global Code of Conduct for the
On 1 June 2016, the London Financial Services team will be holding their latest 40 minute briefing.
In the 40 min briefing we will focus on:
The Financial Stability Board (FSB) has adopted a two-pronged strategy to transform shadow banking into resilient market-based finance. First, it has created a system-wide monitoring framework to track financial sector developments outside the banking system with a view to identifying the build-up of systemic risks and initiating corrective actions where necessary. Second, it
The FCA has published Guidance Consultation 16/15: Primary Market Bulletin No.15 (GC156/15). GC16/15 is a short special edition focusing mainly on how issuers are expected to file persons discharging managerial responsibilities notifications, and notifications for delayed disclosure of inside information with the FCA under Market Abuse Regulation.
The Department for Business, Innovation and Skills (BIS) has published a call for evidence on how switching service providers in a number of industries can be made quicker. The call for evidence is divided into three sections. The first section covers the consumer landscape in the energy, communications, water and transport sectors and seeks views
The FCA has published an updated version of its unfair contract terms webpage.
The web page contains certain key messages that firms are encouraged to focus on. These include:
The European Banking Authority (EBA) has published its final guidelines on stress tests for deposit guarantee schemes (DGSs). The guidelines provide a systematic methodology for planning, running and reporting on stress tests conducted by DGSs to assess their resilience to various types of scenarios in times of banking stress. In line with the Deposit
The European Securities and Markets Authority (ESMA) has issued a communication clarifying the reporting of reference data under the Market Abuse Regulation (MAR).
ESMA states that following the agreed one year delay in application of both MiFID II and MiFIR certain provisions of MAR will also be delayed by a year. Specifically, the requirements