On 20 December 2023, the FCA published on its website a further update to ancillary activities exemption for commodity derivatives (2024-2025).
Earlier this year the FCA set out how firms could determine their use of the ancillary activities exemption for 2023-24.
The further update provides that following HM Treasury’s decision to put back the
On 20 December 2023, the FCA published the following proposals intended to make the UK’s listing regime more accessible, effective and competitive.
Earlier this year the FCA published CP23/10 which set out proposals aimed at making the
On 19 December 2023, the FCA published a new webpage, Expectations of firms selling client banks.
On the webpage the FCA explains that a client bank is the name for a list of clients or accounts maintained by someone who provides financial services. It may include all clients the firms has worked with in
On 19 December 2023, the Financial Services and Markets Act 2023 (Benchmarks and Capital Requirements) (Amendment) Regulations 2023 (SI 2023/1409) (the Regulations) were published, along with an explanatory memorandum.
The Financial Services and Markets Act 2023 (FSMA 2023) repeals retained EU law (REUL) relating to financial services, to enable
On 19 December 2023, the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 (the Order) (SI 2023/1411) was published, along with an explanatory memorandum.
The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (FPO) provides exemptions from the restriction on communicating financial promotions. These
On 19 December 2023, the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (SI 2023/1410) (the Regulations) were published, along with an explanatory memorandum.
The Regulations make consequential amendments arising out of provisions in, or made under, the Financial Services and Markets Act 2023 (FSMA 2023) as part of
On 19 December 2023, the FCA published Primary Market Bulletin 46, which focuses on Article 10 of the EU Market Abuse Regulation (MAR) and environmental, social and governance (ESG) stewardship, as well as sponsor procedures in relation to the Task Force on Climate-Related Financial Disclosures (TCFD)-aligned disclosure requirements.
On 19 December 2023, the European Central Bank (ECB) published the results of its 2023 Supervisory Review and Evaluation Process (SREP) and its supervisory priorities for 2024 – 2026.
The SREP is an annual exercise in which ECB supervisors examine EU banks’ risks and produce capital requirements and guidance for each
On 19 December 2023, the European Securities and Markets Authority (ESMA) published a final report on the guidelines on stress test scenarios under the Money Market Funds Regulation (MMF Regulation).
Article 28 of the MMF Regulation mandates ESMA to develop guidelines establishing common reference parameters of stress test scenarios to be
On 19 December 2023, the European Securities and Markets Authority (ESMA) published a final report on draft regulatory technical standards (RTS) under the revised European long-term investment fund (ELTIF) Regulation.
The final report takes into account comments received to an earlier ESMA consultation and in accordance with ESMA’s mandate