On September 18, 2018, the New York State Attorney General issued a 32- page report on its findings on the state of cryptocurrency platforms with respect to consumer protections. The Virtual Markets Integrity Initiative Report summarizes the results of the New York Attorney General’s April 2018 survey sent to 13 cryptocurrency platforms, including some located
The Competition and Markets Authority (CMA) has received a ‘super-complaint’ from Citizens Advice in respect of price discrimination against long-term customers. Citizens Advice is seeking a response from CMA including a commitment to initiating a market study to identify remedies to end overpricing for disengaged or loyal customers.
On 27 September 2018, ESMA published an updated version of its Questions and Answers (Q&As) on the Benchmarks Regulation (BMR).
The updated Q&As address:
On 27 September 2018, the European Securities and Markets Authority (ESMA) published an updated version of its Questions and Answers (Q&As) on the Implementation of the Regulation (EU) No 909/2014 on improving securities settlement in the EU and on central securities depositories.
The updated Q&As address:
On 27 September 2018, the European Securities and Markets Authority (ESMA) published its final report (the Report) on the clearing obligation under EMIR (no. 6). The Report presents draft regulatory technical standards (the Draft RTS) in Annex III, which relates to the treatment of certain intragroup transactions concluded with a third country group entity.
On 27 September 2018, the European Securities and Markets Authority (ESMA) published a press release announcing details of new data completeness indicators for trading venues due to be published detailing the delivery of double volume cap (DVC) and bond liquidity data. These will be:
The completeness ratio is
On 27 September 2018, the Payment Systems Regulator (PSR) published Draft Specific Direction 8 requiring the adoption of appropriate policies and measures and reporting obligations regarding protected ATMs (LINK) (the Direction).
LINK is a network of Card Issuers and ATM providers that allows cardholders to use their cards to withdraw cash at any ATM connected
On 27 September 2018, ESMA published an updated version of its Questions and Answers (Q&As) on the Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR). The updated Q&As cover the following topics:
On 27 September 2018, the FCA published Thematic Review 18/2: Impact of credit broking remuneration models at the point of sale (TR18/2). The FCA review considered whether inter-firm commission affects how consumers are sold credit and whether commission arrangements are resulting in consumer harm.
The FCA’s research as part of the review did not find
For the first time, a US federal court has ruled that in appropriate circumstances cryptocurrencies can be subject to the provisions of US securities laws. In U.S. v. Zaslavskiy, No. 1:17-cr-00647, slip op., 2018 WL 4346339 (E.D.N.Y. Sept. 11, 2018), Judge Raymond Dearie of the Eastern District of New York upheld a criminal indictment