The Financial Stability Board (FSB) has published a consultative document on guiding principles of the internal loss absorbing capacity of global systemically important banks (G-SIBs). The consultation follows on from the FSB’s work on the total loss-absorbing capacity (TLAC) standard, which it finalised in November 2015. The FSB seeks
The Financial Services Consumer Panel (FSCP) has published a research report on assessing online investment and advice services and a related position paper on the consumer experience. The FSCP carried out research in the light of its concerns about the boundaries around advice and guidance, the extent to which the nature of the service
On 19 December 2016, the Dutch Minister of Finance (the Minister) informed the Dutch Parliament on the recovery framework (herstelkader) that has been put in place for the reassessment of interest rate derivatives agreements (IRS agreements). On the basis of the results of the ‘pilot-phase’ of the recovery framework, which
Norton Rose Fulbright New York office’s next 40-minute financial services briefing is set for Thursday, January 5, 2017 at 12:00 noon EST. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the financial services sector.
The briefings will stick strictly to
The FCA has published Consultation Paper 16/43: Markets in Financial Instruments Directive II Implementation – Consultation Paper IV (CP16/43).
In summary, the FCA seeks comments on proposed changes to the Handbook in the following areas:
The European Securities and Markets Authority (ESMA) has updated its Q&As on the implementation of investor protection topics under MiFID II / MiFIR.
The following topics have new Q&As:
The European Securities and Markets Authority (ESMA) has updated its Q&As on the application of the Alternative Investment Fund Managers Directive (AIFMD). The updated Q&As include one updated question and answer on reporting obligations by non-EU alternative investment fund managers under Article 42 of the AIFMD, clarifying the circumstances under which
The European Securities and Markets Authority has added ICE Clear US Inc. to its list of recognised third-country central counterparties under the European Markets Infrastructure Regulation.
View ESMA recognises ICE Clear US Inc. as third country CCP under EMIR, 15 December 2016
There has been published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No. 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC
Article 81 of the European Markets Infrastructure Regulation (EMIR) requires the European Securities and Markets Authority (ESMA) to develop draft regulatory technical standards (RTS) specifying the frequency and the details of the information to be made available to the relevant authorities and the information to be published as well