On 30 July 2019, the Financial Markets Law Committee (FMLC) published a letter it had sent to HM Treasury concerning the implementation of the Fifth Anti-Money Laundering Directive (5MLD) and cryptoassets.
The FMLC highlights discrepancies between the definition of ‘virtual currencies’ provided for in Article 1(2)(d) of 5MLD and the non-legislative definition adopted by UK
On 30 July 2019, the FCA published Consultation Paper 19/26: Draft technical standards on the content and format of STS notifications under the onshored Securitisation Regulation (CP19/26).
The European Securitisation Regulation (the EU Securitisation Regulation) came into effect on 1 January 2019. It is part of the Capital Markets Union action plan, outlines the general
On 30 July 2019, the Bank of England (BoE) and the PRA published the Resolvability Assessment Framework (RAF).The RAF builds on the work done since the financial crisis and sets out the next step in implementing the resolution regime: ensuring that firms are, and are able to demonstrate that they are, resolvable. This will require
On 30 July 2019, the FCA published a package of pension related proposals designed to improve the quality of pension transfer advice and to help consumers get better value from their pension. These proposals include:
On 30 July 2019, there was published in the Official Journal of the EU, European Commission implementing decisions relating to the equivalence of jurisdictions’ legal and supervisory frameworks to the requirements of the Credit Rating Agencies (CRA) Regulation.
Commission implementing decisions repealing previous positive equivalence determinations under the CRA Regulation have been published for Argentina
On 29 July 2019, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on MiFIR data reporting. The updated Q&As insert a new question and answer within section 5 – Maturity Date, expiry date and termination date:
On 29 July 2019, the European Commission issued a communication setting out its overall approach to equivalence and recent legislative developments in terms of how the Commission grants equivalence to non-EU countries. It also describes how the Commission and the European Supervisory Authorities monitor the situation in those non-EU countries after equivalence decisions have been
On 26 July 2019, the Association for Financial Markets in Europe (AFME) published a revised version of its model equity selling restrictions to reflect the application in full of the Prospectus Regulation that came into force on 21 July 2019.
The updated version of the equity selling restrictions replaces references to the Prospective Directive with
On 26 July 2019, the FCA published Handbook Notice 68.
This Handbook Notice provides a summary of the changes the FCA board made to the Handbook on 11 and 25 July 2019. The relevant instruments are:
On 26 July 2019, there was published in the Official Journal of the EU, the European Central Bank (ECB) guideline governing the euro short-term rate (€STR) and establishing the ECB’s responsibility for its administration and oversight. The guidelines also establish the responsibilities of the ECB and national central banks and sets out the provisions for