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PRA Rulebook: MiFID II Passporting Amendment Instrument 2017
The PRA has published the PRA Rulebook: MiFID II Passporting Amendment Instrument 2017.
Part A of the Instrument makes amendments to the Passporting Part of the PRA Rulebook relating to the implementation of MiFID II and the Insurance Distribution Directive. Annex A to the Instrument covers the MiFID II amendments and these come into
Brexit sectoral analyses published by Committee
The House of Commons’ Committee on Exiting the EU has announced that it has published the Brexit sectoral analyses produced by the Department for Exiting the European Union.
The sectoral analysis includes coverage of:
- Asset management;
- FinTech;
- Payment services and systems;
- Retail and corporate banking; and
- Wholesale capital markets, investment banking
The Building Societies (Restricted Transactions) (Amendment to the Limit on the Trade in Currencies) Order 2017
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
ESMA advises the Commission on specific elements of the Short-Selling Regulation
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
ESMA review finds good supervision of CCPs’ default management
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
Commission Implementing Decision on equivalence of Swiss stock exchanges
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
ESMA updates ITS CFI validations for MiFID II
The European Securities and Markets Authority has published the updated CFI validation document relevant for data reporting under MiFID II.
View ESMA updates ITS CFI validations for MiFID II, 21 December 2017
Opinion of Advocate General – Article 54(1) MiFID – Concepts of ‘professional secrecy’ and ‘confidential information’
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
Credit Transfer Scheme Interbank Implementation Guidelines 2017 version 2.0
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.