On 21 December 2016, the Dutch Minister of Finance (the Minister) published a letter in which he informs the Dutch Parliament on developments around innovative initiatives undertaken by the Dutch government and financial supervisory authorities in the Dutch financial sector to achieve a more accessible regulatory regime for innovative financial services (the Letter).
The Council of the EU has published its fifth Presidency compromise proposal on the proposed Fifth Anti-Money Laundering Directive which amends the Fourth Anti-Money Laundering Directive. With respect to the compromise proposal, the new text is marked in underlined bold and deletions indicated in strikethrough. Our blog entry on the previous compromise proposal can be
The European Securities and Markets Authority has published an updated version of its Questions and Answers (Q&As) on the Market Abuse Regulation (MAR). The Q&As include:
View ESMA updates Q&A
On 5 June 2015, the European Commission (Commission) adopted a Delegated Regulation amending the European Markets Infrastructure Regulation (EMIR) by extending the exemption from the clearing obligation for Pension Scheme Arrangements until 16 August 2017. The Commission has now adopted a further Delegated Regulation which extends the exemption for a further
The European Banking Authority (EBA) has published a consultation paper seeking comments on its draft guidelines on the supervision of significant branches.
The EBA has published these draft guidelines with a view to specifying how the consolidating supervisor, the home and the host Member State competent authority should, within the framework of supervisory
The European Banking Authority (EBA) has launched a data collection for commodity derivatives firms that will support the European Commission (Commission) in the calibration of the new prudential regime for investment firms. The exercise follows up on the consultation the EBA launched on 4 November 2016 in response to the Commission’s
There was published on the legislation.gov.uk website the Immigration Act 2014 (Current Accounts) (Excluded Accounts and Notification Requirements) Regulations 2016 (the Regulations). The Regulations prescribe:
The FCA has published a letter it has sent to the UK operators of trading venues on the issue of pre-trade transparency waivers, setting out the process for waiver applications in the UK under MiFID II and MiFIR. The letter notes that trading venues should submit their waiver applications to their relevant competent authority by
The Cabinet Office has published an explanatory memorandum submitted by HM Treasury on the European Commission’s (the Commission) November 2016 report under Article 85(1) of the European Markets Infrastructure Regulation (EMIR). Among other things, the memorandum states that the Government:
On December 19, 2016, the Federal Reserve Board announced that it had finalized a regulation requiring large banking organizations (covered companies) to publicly disclose on a quarterly basis certain information about their liquidity coverage ratios (LCRs). The final regulation is substantially similar to the proposed regulation issued in December 2015, but there have been minor