On 20 November 2024, the European Supervisory Authorities (ESAs) published a final report on joint guidelines on the system established by the ESAs for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market
On 20 November 2024, the Financial Stability Board (FSB) issued a report ‘Legal and regulatory challenges to the use of compensation tools’.
The report identifies potential ways to address challenges in the use of compensation tools and follows guidance that the FSB published in 2018 on the use of compensation tools to
On 20 November 2024, the European Securities and Markets Authority (ESMA) issued a consultation on the conditions of the Active Account Requirement (AAR) following the review of the European Market Infrastructure Regulation (EMIR 3).
Background
EMIR 3 addresses financial stability risks caused by EU clearing members and clients being
On 19 November 2024, the Special Public Bill Committee on the Property (Digital Assets etc) Bill, established by the House of Lords, issued a call for written evidence on the Bill.
The Bill
The Bill provides that something may be capable of attracting property rights even if does not fit into either of the two
On 19 November 2024, HM Treasury (HMT) published an updated version of its guidance, Money Laundering Advisory Notice: High Risk Third Countries.
The guidance contains advice issued by HMT about risks posed by jurisdictions with unsatisfactory money laundering and terrorist financing controls.
In the November update, the guidance has been amended to
On 19 November 2024, the European Securities and Markets Authority (ESMA) published a final report containing technical advice on the Central Securities Depositories Regulation (CSDR) penalty mechanism.
Background
The CSDR contains measures intended to prevent and address failures in the settlement of securities transactions (settlement fails), commonly referred to as settlement
On 19 November 2024, the Council of the EU issued a press release stating that it had adopted the Regulation amending the European Market Infrastructure Regulation and the related Directive amending various directives on the treatment of concentration risk towards central counterparties and the counterparty risk on centrally cleared derivative transactions.
Next steps
The draft
On 19 November 2024, the Council of the EU issued a press release stating that it had adopted the Regulation on ESG rating activities.
Next steps
The Regulation will be published in the Official Journal of the EU and enter into force 20 days later. The Regulation will start applying 18 months after its entry
In this latest episode of our podcast series, Let’s talk asset management, Hannah Meakin, Lucy Dodson, Rebecca Dulieu and Simon Lovegrove discuss the UK Financial Conduct Authority’s recent work on non-financial misconduct and its impact on the UK asset management sector.
Listen to the podcast here.
On 19 November 2024, the Financial Conduct Authority (FCA) published a research note in which it reviews the methodology for calculating its market cleanliness statistic (MCS), which is used in its annual report to measure insider trading. The MCS is based on abnormal stock price movements before takeover offer announcements.
The