In January 2017, the FCA sent a questionnaire to 22 wholesale banks asking information about their compliance function. The exercise was designed to give the FCA greater insight into the changes in the function over the past few years and where further challenges remain. The questionnaire contained 27 questions about the compliance function covering the
The European Securities and Markets Authority (ESMA) has published an updated version of its Q&A on Market Abuse Regulation (MAR). ESMA has added answers on the following questions:
The Single Euro Payments Area Regulation (SEPA Regulation) was adopted in 2012 and was intended to create an integrated market for electronic payments in euro that makes no distinction between national and cross-border payments.
The SEPA Regulation imposed 1 February 2014 as an end-date for migration in the euro area. A month before
The International Organization of Securities Commissions (IOSCO) has published its latest biannual Hedge Fund Survey report. The report uses data that was collected by the following authorities: AMF (France), BaFin (Germany), Central Bank of Ireland, CSSF (Luxembourg), FCA (UK), MAS (Singapore), SEC (United States) and SFC (Hong Kong) and with input from the
The International Organization of Securities Commissions (IOSCO) has published a report on good practices for the termination of investment funds. The report sets out good practices on the voluntary termination of collective investment schemes and other fund structures such as commodity, real estate and hedge funds. In its report, IOSCO highlights the importance
The European Central Bank (ECB) has published a speech by Marc Bayle de Jessé, Director General Market Infrastructure and Payments, ECB. The speech is entitled ECB views on the regulation of cyber security.
In his speech Mr Jessé reminds his audience that the ECB’s Governing Council approved the Eurosystem’s cyber resilience strategy
The European Banking Authority (EBA) has published a report which provides a summary of the 2016 – 17 EBA assessment of convergence of supervisory practices in accordance with Article 107 of the Capital Requirements Directive IV.
Among other things the EBA notes in the report that:
The European Commission (Commission) has published a speech by Vice President Valdis Dombrovskis, European Commissioner for Financial Stability, Financial Services and Capital Markets Union (CMU) providing an overview of the timings of pending Commission initiatives relating to financial services. Mr Dombrovskis discusses the following three key objectives:
The European Payments Council (EPC) has announced that its Single Euro Payments Area instant credit transfer (SCT Inst) scheme is operational. The scheme allows the electronic transfer of money, currently up to EUR 15,000, across Europe in less than ten seconds, at any time and on any day of the year,
Delegated Regulations on indirect clearing arrangements published in OJ
The following have been published in the Official Journal of the EU (OJ):