Introduction
The Dubai Financial Services Authority (the DFSA) recently announced some notable amendments to its Crypto Token regime. These changes arise from the proposals in Consultation Paper 153 – Updates to the Crypto Token regime which was published in January 2024. Implementing these changes will help the Crypto Token regime which was initially launched
Key dates next week
Global
EU
On 28 June 2024, the European Banking Authority (EBA) updated its guidelines on arrears and foreclosures.
The update follows changes to the Mortgage Credit Directive (MCD).
The EBA originally issued the guidelines in 2015 to support the transposition of Article 28 of the MCD which deals with arrears and foreclosure. The
On 28 June 2024, the FCA published Handbook Notice 120.
The Handbook Notice describes the changes to the FCA Handbook made by the FCA Board under their legislative and other statutory powers on 27 June 2024. On this date the FCA Board approved Handbook Administration (No 70) Instrument 2024. In this instrument the FCA
On 28 June 2024, the European Banking Authority (EBA) published a final report on draft regulatory technical standards (RTS) on conditions and indicators that the European Supervisory Authority shall use to determine whether extraordinary circumstances have occurred for the purposes of Articles 325az(5) and 325bf(6) of the Capital Requirements Regulation (
On 28 June 2024, the European Supervisory Authorities (ESAs) updated their consolidated Q&As on the PRIIPs Key Information Document.
In the general section the ESAs have added an answer to this question – Do FX forwards fall within the scope of the PRIIPs Regulation?
On 14 June 2024, the FCA published its latest whistleblowing data for Q1 2024. The data includes the method of reporting, the nature of the report and the action taken by the FCA. The headline figures include the following:
In the first episode of our podcast series, Risks Redefined, brought to you by the Risk Advisory team, Hannah Meakin and Haney Saadah discuss the upcoming UK general election and what this will mean for firms with regards to compliance, in both the lead up to the election and the implications of the various potential
On 27 June 2024, the Financial Conduct Authority (FCA) published a new webpage setting out information on the challenges and expectations for principal firms with overseas appointed representatives (OARs).
Challenges
The FCA notes that principals may have challenges overseeing and communicating effectively with their OARs due to differences in legal, accounting and
The FCA recently confirmed its first ESG-related enforcement investigation and it appears likely from further information which has since emerged that the investigation concerns climate-related issues but not greenwashing.
The investigation was referenced by the FCA on 7 May 2024 in a letter from the FCA to the Chair of the Treasury Sub-Committee on Financial