The European Central Bank (ECB) has published a supervisory statement on governance and risk appetite under the single supervisory mechanism (SSM). The statement reports on the lessons learned from a thematic review conducted in 2015 that involved an in-depth assessment of the management bodies and risk appetite framework’s (RAFs)
The Council of the EU has published minutes of the meeting held in its configuration as the Economic and Financial Affairs Council. In the minutes, the Council confirms that it has decided not to object to the following proposed delegated legislation supplementing the MiFID II Directive:
The FCA has announced the establishment of a Financial Advice Working Group (Working Group), as recommended in the final report on the Financial Advice Market Review (FAMR). The FCA has also published the terms of reference of the Working Group. These state that the group will be responsible for taking forward
On 17 June 2016, the Securities and Futures Commission (SFC) published an updated set of Frequently Asked Questions on “Offers of Investments” under the Securities and Futures Ordinance (FAQs).
The FAQs now include a new Appendix 1 which provides guidance on collective investment schemes involving interests in real property, as well as updated answers to
On June 13, 2016, the New York State Department of Financial Services (“NY DFS”) announced that it had issued a BitLicense to XRP II, LLC (“XRP”), an affiliate of Ripple Labs, Inc. (“Ripple”).
This approval follows the NY DFS approvals in May 2015 of itBit Trust Company and October 2015 Gemini Trust Company, both
On 20 June 2016, the Dutch Minister of Finance published for consultation a draft legislative proposal of the Act on transparent supervision financial markets (Wetsvoorstel transparant toezicht financiële markten, the Proposed Act). The Proposed Act – which is open for consultation until 31 July 2016 – aims to make the supervision of the
The Bank of England (BoE) has published a speech given by its Governor, Mark Carney, entitled Enabling the FinTech transformation: Revolution, Restoration, or Reformation?
In his speech Mr Carney mentions that FinTech has the potential to affect monetary policy transmission, the safety and soundness of the firms its supervises, the resilience of the
The Committee on Payments and Market Infrastructure and the International Organisation of Securities Commissions have published the responses to their consultative paper, Guidance on cyber resilience for financial market infrastructures. The respondents include: Deutsche Bundesbank and BaFin, the European Association of CCP Clearing Houses, the Hong Kong Monetary Authority, the London Stock Exchange and
There has been published in the Official Journal of the EU (OJ) the Commission Implementing Regulation (EU) 2016/962 of 16 June 2016 laying down implementing technical standards with regard to the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the European Banking Authority according
The following have been published in the Official Journal of the EU: