September 2020

On 28 September 2020, the European Securities and Markets Authority (ESMA) announced that it had updated its Q&A document on data reporting under MiFIR.

ESMA explains that it has updated the Q&A as follows:

  • Section 2: LEI of the issuer. A new Q&A (question 6, LEI of funds) that seeks to clarify which

On 25 September 2020, the Basel Committee on Banking Supervision (Basel Committee) issued a press statement following its meeting on 14, 18 and 25 September 2020 to take stock of COVID-19 risks to the global banking system and related vulnerabilities.

Key points in the press statement include:

  • The Basel Committee reiterates its previous

On 28 September 2020, the Bank of England (BoEannounced that both it and the FCA support and encourage liquidity providers in the sterling swaps market to adopt new quoting conventions for inter-dealer trading based on SONIA instead of LIBOR from 27 October 2020. The intention is to facilitate the further shift in

If the negotiations between the UK and the EU do not result in a (clear) agreement at the end of the Brexit transition period, and the temporary transition regime that was introduced in the Netherlands for UK investment firms (Dutch Transition Regime) back in February 2019 does not enter into effect, UK investment

On 22 September 2020, the UK Government published its response to a 2019 consultation on potential options for strengthening section 54 of the Modern Slavery Act 2015 (the MSA), which requires certain commercial organisations to publish a slavery and human trafficking (SHT) statement on an annual basis.

Of most interest to businesses

In this new video series, our Risk Consulting team provide their insights on hot topics in the world of risk and regulation.

In the first video John Coley and Iain Hawthorn discuss consumer vulnerability in retail financial services, a topic which has been brought into even sharper focus with the onset of the COVID-19 pandemic.

On 28 September 2020, the European Securities and Markets Authority (ESMA) published a final report containing draft regulatory and implementing technical standards (RTS and ITS) on the provision of investment services and activities in the EU by third-country firms under MiFIR and MiFID II.

The draft technical standards are published following

On 25 September 2020, the European Banking Authority (EBA) launched its 7th annual EU-wide transparency exercise, with the objective of providing market participants with updated information on the financial conditions of EU banks as of June 2020, thus assessing the preliminary impact of the COVID-19 crisis on the sector. The EBA expects to

On 25 September 2020, the European Securities and Markets Authority (ESMA) issued a consultation paper on fees for benchmarks administrators under the Benchmarks Regulation (BMR).

Article 5 of the BMR (as amended) provides ESMA with new direct supervisory powers. In particular, the amended BMR designates ESMA as the competent authority of