December 2023

On 20 December 2023, there was published on legislation.gov.uk a draft of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2024.

The draft Order makes operating a pension dashboard service which connects to the Money and Pensions Service dashboards digital architecture a regulated activity. Such dashboards will be provided by commercial

On 21 December 2023, the European Securities and Markets Authority (ESMA) issued a consultation paper on the securitisation disclosure templates under Article 7 of the Securitisation Regulation.

Article 7 of the Securitisation Regulation sets out the transparency requirements for all types of securitisations. These requirements include the disclosure of information related to the

On 21 December 2023, the UK Government announced that it had signed a ‘ground-breaking agreement’ with Switzerland to enhance cross-border market access of financial services between the two countries. The Berne Financial Services Agreement provides an institutional framework for cooperation and development of the UK’s financial services relationship with Switzerland. The foundation of the agreement

On 20 December 2023, the European Banking Authority (EBA) published a final report on draft implementing technical standards (ITS) amending the ITS on disclosures and reporting on MREL and TLAC with regard to the disclosures and reporting of information in daisy chains and prior permissions. The amendments reflect the new requirement

On 20 December 2023, the Financial Stability Board issued a report setting out revised policy recommendations to address structural vulnerabilities from asset management activities in relation to liquidity mismatch in open-ended funds. The revised policy recommendations supersede section2 of the FSB’s 2017 policy recommendations to address structural vulnerabilities from asset management activities. The revised recommendations

On 25 November 2021, the European Commission (Commission) published a proposal for the Regulation establishing a European single access point (ESAP) providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability. The establishment of a ESAP by 2024 is a main goal of the Capital

On 20 December 2023, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2023/2830 of 17 October 2023 supplementing Directive 2003/87/EC of the European Parliament and of the Council by laying down rules on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances

On 20 December 2023, the European Securities and Markets Authority published the 2023 edition of its CRA Market Share Report. The market share calculation is required to be published by ESMA on an annual basis in accordance with Article 8d(2) of the Regulation on credit rating agencies (CRAs). Its purpose is to

On 20 December 2023, the European Supervisory Authorities (ESAs) issued joint draft regulatory technical standards (RTS) under the European Market Infrastructure Regulation (EMIR) where they are proposing a two year extension to the equity option exemption from bilateral margining. The ESAs have also issued a no-action opinion which includes