On 30 September 2022, the Joint Committee of the European Supervisory Authorities published its work programme for 2023.
2023 Work Programme of the Joint Committee of the ESAs
The FCA’s Consultation Paper on the perimeter of the definition of trading venue
There are three types of trading venue under MiFID II: Regulated Markets, Multilateral Trading Facilities and Organised Trading Facilities. MiFID II introduced a definition of multilateral system[1], still relevant in the UK, which is common to all types of trading venue and requires that all multilateral systems operate in accordance with Title II
All signs point to increased US regulation of Buy Now, Pay Later
Driven by an increase in online and mobile app shopping during the COVID-19 pandemic, the Buy Now, Pay Later (BNPL) market has experienced exponential growth as an innovative consumer offering, particularly for the unsecured credit market. The explosion of the BNPL market, however, is attracting scrutiny from financial services regulators concerned about the
FCA Handbook Notice No 102
On 30 September 2022, the FCA published Handbook Notice No 102.
The Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board under its legislative and other statutory powers on 15 July 2022 and 29 July 2022. Where relevant, it also refers to the development stages of that
Commission Implementing Decisions on the equivalence of the regulatory framework for CCPs in Taiwan and Colombia
On 30 September 2022, there was published in the Official Journal of the European Union (OJ):
- Commission Implementing Decision (EU) 2022/1684 of 28.9.22 on the equivalence of the regulatory framework for central counterparties in Taiwan to Regulation (EU) No 648/2012 of the European Parliament and of the Council as regards Futures Clearing Houses
Commission Delegated Regulation (EU) 2022/1671 extending the transitional period referred to in Article 89(1) of Regulation (EU) No 648/2012
On 30 September 2022, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2022/1671 of 9.6.22 extending the transitional period referred to in Article 89(1), first subparagraph, of the European Markets Infrastructure Regulation. The Delegated Regulation enters into force on the day following that of its
Dubai’s VARA publishes virtual asset marketing guidelines
We have published a briefing note which looks at the Dubai Virtual Assets Regulatory Authority’s (VARA) first publicly-issued policy and guidelines, which cover the marketing of Virtual Assets.
BoE speech – Message received and understood
On 29 September 2022, the Bank of England (BoE) published a speech by Dave Ramsden (Deputy Governor, Markets and Banking) entitled Message received and understood. In his speech Mr Ramsden focuses on the BoE’s responsibilities for payments and provides a real-life example of why having real-time data matters and points to how the
EBA updates data used for the identification of G-SIIs
On 29 September 2022, the European Banking Authority (EBA) disclosed the data items used to identify global systemically important institutions within the EU. The EBA has published 13 indicators and updated underlying data for the 30 largest institutions in the EU whose leverage ratio exposure measure exceeds EUR 200bn. Acting as a central
Net Zero review
On 29 September 2022, the Department for Business, Energy & Industrial Strategy (BEIS) announced that it has commissioned an independent review of the government’s approach to delivering its net zero target.
The review will assess the economic co-benefits associated with different policies and how the government can drive down the cost curve for