In September we published a blog setting out 10 key things that firms needed to know about the draft regulation on markets in crypto-assets (MiCA). We have since published an update on what’s been happening and as we continue our close monitoring of the key developments regarding the MiCA review, in this blog we provide
On 20 November 2020, the Financial Stability Board (FSB) published a progress report on implementation of reforms to major interest rate benchmarks.
Among other things the report notes:
On 20 November 2020, the International Organisation of Securities Commissions (IOSCO) published a diagnostic report analysing the events that occurred in the money market funds (MMFs) sector during the market turmoil in March 2020. At the same time, IOSCO has also published a thematic review assessing the implementation of selected IOSCO
On 20 November 2020, the European Securities and Markets Authority (ESMA) launched a consultation seeking stakeholder input on proposals for technical advice to the European Commission on delegated acts relating to the criteria to identify those authorised reporting mechanisms (ARMs) and approved publication arrangements (APAs) that, by way of
On 20 November 2020, the House of Commons’ Treasury Committee announced the launch of an inquiry that will look at the future of financial services after the Brexit transition period ends. The inquiry will also consider how financial services regulations should be set and scrutinised by Parliament and how regulators are funded and the extent
On 20 November 2020, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2020/1732 of 18 September 2020 supplementing Regulation (EU) 2017/2402 of the European Parliament and of the Council with regard to fees charged by the European Securities and Markets Authority to securitisation repositories. The Commission
On 19 November 2020, the European Securities and Markets Authority (ESMA) published a speech on future challenges for fund managers.
During the course of this speech ESMA’s Executive Director, Verena Ross, provides some thoughts on the outlook for the asset management sector from a supervisory perspective. In particular, the Alternative Investment Fund Managers
The Financial Conduct Authority (FCA) has sent a ‘Dear CEO’ letter to Price Comparison Websites. The letter identifies the key risks of harm which it believes Price Comparison Websites (PCWs) pose to their customers and the markets in which they operate. PCWs are expected to review the harms identified and take steps to reduce the
On 19 November 2020, the FCA confirmed updated guidance to firms setting out enhanced support that should be available to consumer credit customers experiencing payment difficulties as a result of the COVID-19 pandemic. The guidance covers users of personal loans, credit cards, store cards, catalogue credit, rent to own, buy now pay later, pawn broking,
On 18 November 2020, there was published on the legislation.gov.uk website, The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020.
HM Government has issued two consultations on the debt respite scheme. First, a call for evidence ran between October 2017 and January 2018. HM Government’s response