On 28 July 2021, the European Securities and Markets Authority (ESMA) published its latest MiFID II / MiFIR Annual Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).
The final report covers the mandate under Article 17 of RTS 2 whereby ESMA is required to analyse whether it is appropriate to
On 28 July 2021, the Single Resolution Board (SRB) published information on its approach to prior permissions for eligible liabilities, in line with upcoming regulatory changes.
Banks need an authorisation under Articles 77 and 78a of the Capital Requirements Regulation (CRR) to redeem eligible liabilities, as of 27 June 2019. Article
On 28 July 2021, the FCA added the following forms to its webpage on the Investment Firms Prudential Regime:
On 28 July 2021, the FICC Markets Standards Board (FMSB) published the finalised Standard on use of Term SONIA reference rates. The Standard was initially published as a Transparency Draft on 24 March 2021. Certain minor changes have been made to the final Standard in response to comments received during the Transparency
Earlier this year the FCA issued consultation proposals (CP21/10) on changes to aspects of the Listing Rules that apply to special purpose acquisition companies (SPACs). A SPAC is a type of company formed to raise money from investors, which it then uses to acquire another operating business. The proposed changes were
On 22 July 2021, the EU Agency for the Cooperation of Energy Regulators (ACER) published the sixth edition of its guidance on the Regulation on wholesale energy market integrity and transparency (REMIT). The guidance is intended to help EU national regulatory authorities on the application of the definitions set out in
On 27 July 2021, the FCA updated its webpages on authorisation for wholesale investment firms and capital requirements permissions. The update relates to the Investment Firm Prudential Regime (IFPR) which comes into force in the UK on 1 January 2022.
On the webpage on authorisation for wholesale investment firms the FCA has
On 23 July 2021, the ISDA announced the results of its consultation on the implementation of fallbacks for the sterling LIBOR ICE Swap Rate and the US dollar LIBOR ICE Swap Rate. The ISDA states that the results indicate a significant majority of respondents agree with the fallback provisions set out in the draft amendments
On 27 July 2021, the European Commission issued a public consultation seeking information with regard to the types of public-private partnerships that are currently operating in EU Member States in the area of anti-money laundering and countering the financing of terrorism, the public authorities and private sector entities that participate, the types of information exchanged
On 26 July 2021, the International Organization of Securities Commissions (IOSCO) issued a consultation report intended to assist its members in understanding the implications of the activities of environmental, social and governance (ESG) ratings and data providers and in establishing frameworks to mitigate risks stemming from these activities.
The consultation report