The European Securities and Markets Authority (ESMA) has published the following final reports relating to the implementation of the Regulation on improving securities settlement and regulating central securities depositories (CSDR):
On 18 March 2016, we blogged that the Bank for International Settlements (BIS) published a speech given by Guy Debelle (former Assistant Governor (Financial Markets), now Deputy Governor at Reserve Bank of Australia) concerning the development of the global code of conduct for the foreign exchange market (the Code).
BIS has
The Government tabled Budget 2017 on March 22. The financial services proposals are aimed at the following:
The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) recently commented on the ever increasing relevance of IT-security and IT-compliance for financial service providers. Within the comments, BaFin referenced new legal requirements as well as new guidance. Over the last couple of days, BaFin also launched a public consultation on its
Hong Kong’s new Manager-In-Charge regime comes into effect on 18 April 2017.
This introduces measures to heighten the accountability of the senior management at licensed corporations and increase awareness of their obligations.
The Manager-In-Charge Regime impacts all corporations licensed by the Securities and Futures Commission and their senior management in Hong Kong. Senior management outside
On 23 March 2017, the Dutch Minister of Finance published for consultation a first draft of the Decree implementing (i) the Markets in Financial Instruments Directive (recast) (2014/65/EU) (MiFID II), (ii) the Delegated Regulation supplementing MiFID II as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of the
The recording of our latest MiFID II Academy webinar, Update on conduct issues, is now available. To listen to the recording please register here.
The European Commission has published its long-awaited Action Plan on Retail Financial Services. Notably the Action Plan has been rebranded as the “Consumer Financial Services Action Plan” and is less FinTech (financial technology) focussed than anticipated. Presumably, this work has been subsumed by the FinTech Task Force (FTTF), an internal Commission task force
The European Securities and Markets Authority (ESMA) has published a statement given by its chairman, Steven Maijoor, to the European Parliament’s Economic & Monetary Affairs Committee (ECON). The statement concerns the draft Regulation on the recovery and resolution of central counterparties (CCPs).
At the beginning of his statement Mr
The European Banking Authority (EBA) has published its annual assessment of EU supervisory colleges. The report highlights a number of achievements and identifies areas for improvement.
Overall, the report notes that the level and quality of engagements in supervisory colleges have further improved, in particular the quality and depth of discussions.
The report