On 28 May 2020, the International Organization of Securities Commissions (IOSCO) issued a consultation report concerning its ‘Principles for Outsourcing’.
IOSCO prepared this consultation report before the COVID-19 outbreak. On 8 April 2020, the IOSCO board agreed to delay the publication of its reports to allow firms and financial institutions to redirect their
On 28 May 2020, the European Securities and Markets Authority (ESMA) updated its Q&As on the Securitisation Regulation. Most of the new Q&As provide clarification on the different aspects of the templates contained in the draft technical standards on disclosure which are published on the European Commission’s website. In particular, ESMA clarifies how
On 29 May 2020, the European Securities and Markets Authority (ESMA) updated its Q&As on the European Market Infrastructure Regulation (EMIR).
ESMA has added a new Trade Repository (TR) Q&A 54 providing clarifications on reporting of over-the-counter derivatives by a financial counterparty (FC) on behalf of a
On 29 May 2020, the European Securities and Markets Authority (ESMA) updated its Q&As on market structures and transparency issues under MiFID II / MiFIR.
The updated Q&As provide clarification on the following topics:
On 28 May 2020, the European Securities and Markets Authority (ESMA) updated its Q&As on the implementation of investor protection topics under MiFID II / MiFIR. ESMA has added a new Q&A (see section 12, question 7) that provides clarification on the application of the MiFID definition of “acceptable minor non-monetary benefits”.
On 28 May 2020, the European Commission adopted a Delegated Regulation (plus Annex) amending Delegated Regulation (EU) 2016/101 of 26 October 2015 supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) for prudent valuation under Article 105(14) of the CRR.
The Delegated Act introduces a temporary
On 27 May 2020, the European Commission adjusted its 2020 work programme in light of the COVID-19 pandemic. The adjustments include a non-legislative proposal relating to a renewed sustainable finance strategy being issued in Q4 2020 rather than Q3 2020. A due date for a report on the application of the Electronic Identification and Signature
On 27 May 2020, the FCA issued a statement on its website providing guidance on when individuals may carry over continuing professional development (CPD). During the current situation the FCA will temporarily allow firms to let individuals in exceptional circumstances to carry over any uncompleted CPD hours to the next CPD year, i.e.
On 27 May 2020, the FCA published Market Watch 63 setting out its expectations of market conduct in the context of increased capital raising events and alternative working arrangements due to the COVID-19 pandemic. Alongside the Market Watch, the FCA has also published Primary Market Bulletin 28 which provides an update for listed companies on
Following on our post discussing the ARRC’s publication of their 2020 Key Objectives, we mentioned that ARRC panned to release a set of recommended best practices. As promised, the ARRC has published guidance for Best Practices for Completing the Transition from LIBOR (“Best Practices Guidance”), along with an accompanying ARRC fact sheet,