On 30 May 2018, the European Payments Council (EPC) published a position paper on Brexit and UK payment services providers’ (PSPs) participation on the Single Euro Payments Area (SEPA) schemes. The position paper briefly discusses the following three scenarios:
On 30 May 2018, the European Securities and Markets Authority (ESMA) updated its Q&As on the European Market Infrastructure Regulation (EMIR). ESMA has updated the section on trade repositories, specifically field maturity, position level reporting, reporting to trade repositories: underlying field, access to data by the authorities, reporting of energy derivatives, reporting of deliverable currencies
On 30 May 2018, the European Securities and Markets Authority (ESMA) updated its Q&As on the Central Securities Depository Regulation (CSDR). ESMA has updated CSD Question 6 – Prudential requirements – Operational risks.
On 30 May 2018, the European Commission published a draft Delegated Regulation amending Delegated Regulation (EU) No 2016/438 as regards safe-keeping duties of depositaries.
The purpose of the draft Delegated Regulation is to modify Delegated Regulation No 2016/438 which supplements the UCITS Directive. Article 16 of the Delegated Regulation has been interpreted by some as
On 30 May 2018, the European Commission published a draft Delegated Regulation amending Delegated Regulation (EU) No. 231/2013 as regards safe-keeping duties of depositaries.
The purpose of the draft Delegated Regulation is to modify Delegated Regulation (EU) No 231/2013 which supplements the Alternative Investment Fund Managers Directive (AIFMD). Article 99 of the Delegated Regulation has
On 29 May 2018, the presidency of the council of the EU published its latest compromise proposal (dated 23 May 2018) for the draft Directive amending the CRD IV (CRD V).
On 30 May 2018, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) issued a statement which examines the treatment of retail holders of debt financial instruments in the context of the Bank Recovery and Resolution Directive (BRRD) and the recast Markets in Financial Instruments Directive (MiFID II). The statement encourages
On 25 May 2018, the European Commission published a draft Regulation on sovereign bond-backed securities. The legislative proposal is part of the Commission’s efforts to enhance Banking Union and Capital Markets Union. It aims to enable the emergence of an efficient market for sovereign bond-backed securities (SBBSs) over time. In turn, the Commission believes
On 29 May 2018, the Global Foreign Exchange Committee (GFXC) launched a global index of public registers (Global Index) to serve as a central reference point for demonstrated commitment to the FX Global Code (Code). The Global Index aggregates information from participating public registers in order to make it available in a single, convenient location.
On 29 May 2018, the European Central Bank (ECB) updated its guide to fit and proper assessments so that it is in line with the guidelines on suitability that have been jointly published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).
The guide does not replace guidance provided by