On 11 July 2024, the Law Commission published a scoping paper considering how Decentralised Autonomous Organisations (DAOs) can be characterised, and identifying current issues relating to DAOs to inform any future law reform or innovations.
The Law Commission explains that DAOs are, broadly, a new type of online organisation using rules set out
On 9 July 2024, the Financial Action Task Force (FATF) published a report which provides the latest update on jurisdictions’ compliance with FATF’s Recommendation 15 and its Interpretative Note. In 2019 Recommendation 15 was updated to apply anti-money laundering and counter-terrorist financing (AML/CFT) measures to virtual assets (VAs) and
On 11 July 2024, the European Central Bank (ECB) published a report that defines assessment criteria and sound practices for digitalisation. The report follows a survey on digitalisation involving all significant institutions under European banking supervision conducted in 2022 and a broad set of supervisory activities in 2023 including targeted reviews on the
On 11 July 2024, the Financial Conduct Authority (FCA) published Primary Market Bulletin No. 50 (the PMB).
Published alongside Policy Statement PS24/6, which sets out widespread changes to the UK listing regime, the PMB provides an update on the FCA’s work in relation to the sponsor regime, and also launches a
On 11 July 2024, the Financial Conduct Authority (FCA) published its eagerly awaited new UK listing rules, in Policy Statement PS24/6. The changes are intended to create a simplified and more competitive regime, with streamlined rules to encourage more companies to choose to list in the UK. The rules come into force
On 10 July 2024, the Bank of England (BoE) published a policy statement (PS) setting out its policy on the levying of fees on financial market infrastructures (FMIs) including UK central counterparties (CCPs), UK central securities depositories (CSDs), recognised payment systems and specified service providers
On 9 July 2024, the European Banking Authority (EBA) published a Final Report containing draft implementing technical standards (ITS) on supervisory reporting requirements which implement the changes necessary to keep the supervisory reporting framework relevant and meaningful and aligned with the Capital Requirements Regulation III (CRR III), which implements
On 10 July 2024, the European Securities and Markets Authority (ESMA) issued a public statement on the eligibility of uncollateralised public guarantees, public bank guarantees and commercial bank guarantees for non-financial counterparties (NFCs) acting as clearing members in light of the agreement on the proposal to amend the European Market Infrastructure
On 10 July 2024, the European Securities and Markets Authority (ESMA) published its third consultation paper on the future technical standards and technical advice on revised MiFIR and MiFID II.
The final legislative amending texts of MiFID II and MiFIR were published in the Official Journal of the European Union on 8 March
On 9 July 2024, the Bank of England (BoE) published a speech by its executive director for payments, Victoria Cleland, on ‘A multi-tool for cross-border payments: the power of Legal Entity Identifiers’. In the speech, Ms Cleland discusses the potential benefits of Legal Entity Identifiers (LEIs) for payments, the role that