On 19 December 2024, the European Securities and Markets Authority (ESMA) issued the 2024 edition of its Market Share Report of credit rating agencies (CRAs). The Market Share Report provides a list of registered CRAs indicating total market share for each.
Article 8d(1) of the CRA Regulation provides that where issuers
On 18 December 2024, the European Commission updated its web page on the review of the Mortgage Credit Directive (MCD) by stating that the initiative had been suspended. The Commission previously issued a call for evidence between 22 November 2021 – 28 February 2022. The feedback given remains available for future reference. The
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued a consultation paper on guidelines on internal controls for benchmark administrators (BAs), credit rating agencies (CRAs) and market transparency infrastructures.
ESMA directly supervises all EU CRAs, securitisation repositories and trade repositories as well as certain BAs and
On 19 December 2024, the European Banking Authority (EBA) published a Handbook which provides best practices and high-quality methodologies and processes for the selection and appointment of independent valuers for resolution purposes in accordance with Articles 36 and 74 of the Bank Recovery and Resolution Directive. The Handbook identifies best practices for the
On 18 December 2024, there was published on legislation.gov.uk a draft of The Digital Markets, Competition and Consumers Act 2024 (Consequential Amendments) Regulations 2025.
The draft Regulations make amendments to primary and secondary legislation in consequence of the coming into force of Parts 3, 4 and Chapter 2 of Part 5 of the Digital
On 19 December 2024, the Financial Conduct Authority (FCA) published Consultation Paper 24/30 ‘A new product information framework for Consumer Composite Investments’ (CP24/30).
Background
The FCA is consulting on a new product information regime to help consumers understand the products they are buying while giving firms flexibility to innovate. This follows
On 19 December 2024, the Financial Conduct Authority (FCA) published Policy Statement 24/18 ‘Further temporary changes to handling rules for motor finance complaints’ (PS24/18). PS24/18 follows the FCA’s earlier consultation, CP24/22.
In PS24/18 the FCA publishes rules in the Dispute Resolution: Complaints (DISP) sourcebook of the FCA Handbook
On 19 December 2024, the Bank of England published the updated Memorandum of Understanding (MoU) between itself and the Financial Conduct Authority. The MoU has been updated to reflect changes made by the Financial Services Markets Act 2023.
On 18 December 2024, the European Commission adopted a Delegated Regulation supplementing the Regulation on markets in crypto assets with regard to regulatory technical standards specifying the detailed content of information necessary to carry out the assessment of a proposed acquisition of a qualifying holding in a crypto-asset service provider.
The Delegated Regulation enters into