On 17 December 2020, there was published on legislation.gov.uk The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020.
The Greenhouse Gas Emissions Trading Scheme Order 2020 (the principal Order) set up the UK Emissions Trading Scheme (UK ETS) and will be operational from 1 January 2021. Key provisions in the principal
On 17 December 2020, the European Banking Authority (EBA) published a report on liquidity measures. The report monitors and evaluates the liquidity coverage requirements currently in place in the EU. The liquidity coverage ratio (LCR) of EU banks stood at around 166% in June 2020, materially above the minimum threshold of 100%. The
On 17 December 2020, the European Banking Authority (EBA) published a methodology for carrying out risk assessments under Article 9a of the revised EBA Regulation. These risk assessments are part of the EBA’s new role to lead, coordinate and monitor the fight against money laundering and terrorist financing (ML/TF) in all
On 17 December 2020, the European Securities and Markets Authority (ESMA) published a final report containing guidelines on Article 25 of the Alternative Investment Fund Managers Directive (AIFMD).
The objective of the guidelines is to establish consistent, efficient and effective supervisory practices within the European System of Financial Supervision (ESFS
On 17 December 2020, the European Securities and Markets Authority (ESMA) has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market, to notify the relevant Member State competent authority (NCA) if the position reaches, exceeds or falls below 0.1% of
On 17 December 2020, the European Banking Authority (EBA) published a final report containing draft Regulatory Technical Standards (RTS) on the capitalisation of non-modellable risk factors (NMRFs) for institutions using the FRTB Internal Model Approach (IMA) implemented in EU as a reporting requirement. The RTS have been
On 17 December 2020, there was published in the Official Journal of the EU Commission Implementing Decision (EU) 2020/2127 of 16 December 2020 amending Commission Implementing Decision (EU) 2019/541 on the equivalence of the legal and supervisory framework applicable to approved exchanges and recognised market operators in Singapore in accordance with MiFIR. Commission Implementing Decision
On 17 December 2020, the Council of the EU published the text of the proposed Regulation on the recovery and resolution of central counterparties. The European Parliament adopted the Regulation at second reading on 14 December 2020 in accordance with the Council of the EU’s first reading position. The Regulation will enter into force twenty
On 16 December 2020, the European Securities and Markets Authority (ESMA) published a report containing the 2020 update of the guidelines on money market fund (MMF) stress tests. The update takes account of MMFs recent experience during March 2020, particularly in relation to redemption scenarios.
The report includes:
On 16 December 2020 the Council of EU Ministers (the Council) agreed package of amendments to European financial services legislation – Capital Markets Recovery Package – including targeted amendments to MiFID II (so called MiFID “quick fix”). The key changes to the MiFID II regime include: