On 28 October 2024, the European Securities and Markets Authority (ESMA), issued a consultation paper on draft technical advice under the Prospectus Regulation and a call for evidence (CfE) on prospectus liability.
Background
On 8 October 2024, the Council of the EU adopted the Listing Act, a legislative proposal intended
Many people associate the phrase “insider trading” with company executives buying or selling the company’s stock before news hits the market. The underlying problem government authorities point to in those cases is the use material nonpublic information about the company for personal benefit.[1] Although the phrase is commonly used in related to securities
Introduction
On 17 October 2024, HM Treasury (HMT) issued a consultation paper (CP) which sets out the government’s approach to regulating buy now pay later (BNPL). This CP builds on HMT’s previous consultations that ran between February 2023 and April 2023.
HMT’s latest CP is accompanied by a draft
On 24 October 2024, the European Commission adopted a Delegated Regulation supplementing the Regulation on digital operational resilience for the financial sector (DORA) with regard to regulatory technical standards (RTS) on harmonisation of conditions enabling the conduct of the oversight activities.
The European Supervisory Authorities issued the draft RTS as part
On 25 October 2024, the FCA issued the following portfolio letters setting out its key concerns and priorities in 2025:
On 25 October 2024, the Financial Conduct Authority issued its latest financial promotions quarterly data covering Q3 2024.
One of the key messages in the data is that the cryptoasset financial promotions regime has now been live for a year. Over the last year the FCA has issued 1,702 consumer alerts about illegal crypto promotions
On 25 October 2024, the Financial Conduct Authority (FCA) published the results of its survey to better understand how firms record and manage allegations of non-financial misconduct.
Background
Previously, the FCA published a letter to all regulated Lloyd’s managing agents, London market insurers and Lloyd’s and London market brokers and managing general agents
The FCA has issued a short statement following the Court of Appeal judgment in certain cases concerning motor finance commission.
The FCA states that it is carefully considering the decision.
In September, the FCA extended its pause to the time firms have to provide a final response to customers about motor finance complaints involving a
This article was co-authored with Michele Beck, Tom Clark, Masooma Saberi and Vivian Truong.
In September 2024, ASIC continued to focus on regulatory and enforcement action in the superannuation industry by: