The FCA has published a speech by Robin Jones, Head of Technology, Resilience and Cyber at the FCA entitled, Building cyber resilience, which was delivered at the PIMFA Financial Crime Conference in London.
In his speech, Mr Jones states that in the digital world, the FCA cares about cyber-resilience. Its vision is that firms
The European Parliament has announced that its Committee on Economic and Monetary Affairs has voted to adopt by 49 votes to 3 (with 6 abstentions) its draft report on the proposed Regulation on the recovery and resolution of central counterparties. Three-way negotiations between the European Parliament, the Council and the Commission on the rules will
The European Commission has published a report to the European Parliament and the Council on the implementation and impact on the Second Electronic Money Directive (EMD2). The Commission has also published an annex to the report that sets out the number of e-money institutions that are active in each Member State.
The report
The FCA has published position limits on a further commodity derivative contract which is traded on a UK trading venue. The limits have been established under Regulation 16 of The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 in accordance with Article 57 of MiFID II and the methodology set out
The FCA has published a statement on its website concerning firm communications in relation to packaged retail and insurance-based investment products (PRIIPs).
The FCA understands that some firms are concerned that, for a minority of PRIIPs, the ‘performance scenario’ information required in the key information document (KID) may appear too optimistic
The Money Markets Funds (MMF) Regulation came into force on 21 July 2017. The Regulation will apply to new MMFs from 21 July 2018 and to existing MMFs from 21 January 2019. Although the MMF Regulation is directly applicable under EU law, the FCA needs to make certain amendments to its Handbook to
There has been published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2018/105 of 27 October 2017 which amends Commission Delegated Regulation (EU) 2016/1675 by adding Ethiopia to the list of high-risk third countries in the table in point I of the Annex.
The Delegated Regulation provides that
The Joint Committee of the European Supervisory Authorities (ESAs) has published an opinion on the use of innovative solutions by credit and financial institutions when complying with their customer due diligence (CDD) obligations.
The opinion notes that innovation is not confined to new financial products and services. It also includes the
Norton Rose Fulbright New York office’s next financial services briefing is a luncheon seminar set for Thursday, February 1, 2018, at 12:00-1:00 PM EST. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the financial services sector.
The February briefing will
On 18 January 2018, the Insurance Act was published in the Government Gazette after it had been assented to by the State President. It is known as the Insurance Act 2017.
The Insurance Act, which was tabled in the National Assembly in January 2016 and completed its journey through the parliamentary process in December 2017,