On 27 May 2019, the European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on periodic information and notification of material changes to be submitted to ESMA by trade repositories (TRs).
The draft guidelines set out the information that should be periodically submitted by TRs to ESMA. The draft guidelines clarify
On 28 May 2019, there was published in the Official Journal of the EU (OJ) Regulation (EU) 2019/834 amending EMIR as regards the clearing obligation, the suspension of the clearing obligation, the reporting requirements, the risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty, the registration and supervision of trade repositories and
On 24 May 2019, the FCA published the following revised directions:
The revised directions follow the FCA’s confirmation that the deadline for notifying the FCA in relation to joining the temporary permissions regime would be extended until
In 2015, the FCA introduced its 5 Conduct Question (5CQ) programme for wholesale banks in order to help them improve their conduct risk management and, ultimately, drive cultural change.
The 5CQs are:
On 28 May 2019, the Financial Stability Board (FSB) published a progress report on its work todate on developing effective practices for financial institutions’ response to, and recovery from, a cyber incident.
As part of its work programme to enhance the cyber resilience of financial institutions, the FSB is developing a toolkit of effective practices
On 23 May 2019, HM Treasury published a letter from John Glen MP (Economic Secretary to the Treasury) to Lord Boswell (Chair, House of Lords’ European Union Committee) providing further clarification on the remuneration proposals developed in the Capital Requirements Directive V (CRD V).
The letter makes the following points:
On 23 May 2019, the Act extending notification obligations for shareholders (Wet uitbreiding meldplichten aandeelhouders, the Act) was published for consultation. Chapter 5.3 of the Act on the Financial Supervision (Wet op het financieel toezicht, AFS) will be amended.
The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten
On 24 May 2019, the European Securities and Markets Authority (ESMA) updated its Q&As on the Central Securities Depositories Regulation (CSDR) by inserting a new section on internalised settlement reporting requirements (pages 26 and 27) covering:
On 24 May 2019, the European Securities and Markets Authority (ESMA) published a call for evidence on position limits and position management in commodity derivatives.
Under Article 90(1) of MiFID II, “Before 3 March 2020, the European Commission shall, after consulting ESMA, present a report to the European Parliament and the Council on…the impact of
On 24 May 2019, the European Securities and Markets Authority (ESMA) published a consultation paper proposing amendments to the main indices and recognised exchanges under the Capital Requirements Regulation (CRR).
Article 197(8) of the CRR mandates ESMA to draft implementing technical standards (ITS) establishing the criteria to identify which are the main indices and recognised