The fifth issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released.
This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in
The FCA has published Policy Statement 17/5: Markets in Financial Instruments Directive II Implementation – Policy Statement I (PS17/5).
In PS17/5 the FCA predominantly covers issues it consulted on in Consultation Paper 15/43 (Markets in Financial Instruments Directive II Implementation – CP I) (CP15/43) (where the regulator consulted mostly on markets
The FCA has published its latest MiFID II consultation, Consultation Paper 17/8: Markets in Financial Instruments Directive II Implementation – Consultation Paper V (CP17/8).
CP17/8 has four chapters comprising:
The following Commission Delegated Regulations and Delegated Directives supplementing MiFID II / MiFIR have been published in the Official Journal of the EU:
The European Securities and Markets Authority (ESMA) has published a final report containing the final draft regulatory technical standards (RTS) and implementing technical standards (ITS) required under the Benchmarks Regulation (BMR). The final report is organised in eleven chapters, each dedicated to one of the areas for
The Basel Committee on Banking Supervision (Basel Committee) has issued a standards paper setting out its considerations for retaining the current regulatory treatment of accounting provisions for an interim period. It also sets out the transitional arrangements to take effect from 1 January 2018 and the corresponding Pillar 3 disclosure requirements, should individual
The Basel Committee on Banking Supervision (Basel Committee) has issued Pillar 3 disclosure requirements – consolidated and enhanced framework. The standard represents the second phase of the Basel Committee’s review of the Pillar 3 disclosure framework and builds on the revisions to the Pillar 3 disclosure that the Basel Committee published in
The Payment Systems Regulator (PSR) has published its annual plan and budget for 2017/18.
The PSR has confirmed that its budget for 2017/18 will be £12 million.
Alongside its wider work programme, the annual plan mentions three particular areas of focus for the PSR in 2017/18:
There has been published on the legislation.gov.uk website the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (the Order), together with an explanatory memorandum, transposition note and impact assessment.
The Order amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 to transpose parts of MiFID II. In particular:
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