There has been published on the legislation.gov.uk website, The Building Societies (Restricted Transactions) (Amendment to the Limit on the Trade in Currencies) Order 2017 (the Order). The Order amends section 9A of the Building Societies Act and increases the limit at which building societies can convert currency from £100,000 to £3 million. The Order

The European Securities and Markets Authority (ESMA) has issued technical advice to the European Commission on how to improve the Short-Selling Regulation. ESMA’s technical advice includes proposals around the following:

  • Exemption for market making activities. ESMA proposes including the different types of on-venue market making activities described in MiFID II in the definition

The European Securities and Markets Authority (ESMA) has issued the results of a peer review it conducted into how Member State national competent authorities (NCAs) ensure that central counterparties comply with EMIR.

Overall, ESMA found that NCAs supervise CCPs’ default management procedures (DMP) adequately and that most EU CCPs

The European Commission has adopted an Implementing Decision on the equivalence of the legal and supervisory framework applicable stock exchanges in Switzerland (SIX Swiss Exchange AG and BX Swiss AG) in accordance with MiFID II. The Implementing Decision provides that the Commission recognises these Swiss trading venues as eligible for compliance with the trading obligation

There has been published the opinion of Advocate General Yves Bot in the case of Bundesanstalt fur Finanzdienstleistungsaufsichy v Ewald Baumeister. The case considers the interpretation of Article 54(1) of MiFID as regards the scope of the professional secrecy obligation imposed on Member State national competent authorities and the concept of ‘confidential information’ in

The European Payments Council has published implementation guidelines that set out the Single European Payments Area (SEPA) rules for implementing the interbank ISO 20022 XML message standards based on version 1.1 of the 2017 SEPA Credit Transfer (SCT) rulebook, which took effect on 19 November 2017.

View Credit Transfer Scheme Interbank