Gold is a commodity like no other. With its monetary function, gold is commonly used as an alternative to foreign exchange (FX) and performs the role of a “safe harbour” asset for professional and retail investors to hedge against uncertainty and volatility in the markets. Gold’s role in the heavily regulated financial markets
Split the Difference: Episode 15- Regulating cryptoassets
In the latest edition of our podcast series, Split the Difference, Jonathan Herbst, Hannah Meakin, Anna Carrier and Simon Lovegrove cover the draft UK legislation for regulating cryptoassets and recent FCA discussion paper and compare it with the EU Regulation on markets in cryptoassets regulation.
Listen to the episode here.
Published in OJ – Regulation (EU) 2025/914 amending the BMR
On 19 May 2025, there was published in the Official Journal of the EU (OJ), Regulation (EU) 2025/914 of the European Parliament and of the Council of 7 May 2025 amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an
Split the Difference: Episode 14 – Benchmarks Regulation
In the latest edition of our podcast series, Split the Difference, Hannah Meakin, Nikolai de Koning, Anna Carrier and Simon Lovegrove discuss upcoming changes to the EU Benchmarks Regulation and compare the UK and EU regimes.
Listen to the episode here.
Calls for evidence for an impact assessment – EU SIU
On 8 May 2025, the European Commission issued calls for evidence for an impact assessment on the future Directive and Regulation for the Savings and Investments Union (SIU).
The call for evidence follows the Commission’s adoption of a strategy for the SIU on 19 March 2025.
The deadline for responding to the calls
Commission Delegated Regulation amending Commission Delegated Regulation (EU) 2022/930 as regards fees relating to the supervision by ESMA of CTPs
On 7 May 2025, the European Commission (Commission) adopted a Commission Delegated Regulation amending Commission Delegated Regulation (EU) 2022/930 as regards fees relating to the supervision by the European Securities and Markets Authority (ESMA) of consolidated tape providers (CTPs).
Background
Commission Delegated Regulation (EU) 2022/9302 is based on Article
Commission Delegated Regulation amending Commission Delegated Regulation (EU) 2022/803 as regards rules of procedure for the exercise of the power to impose fines or periodic penalty payments by ESMA with respect to CTPs
On 7 May 2025, the European Commission (Commission) adopted a Commission Delegated Regulation (EU) amending Commission Delegated Regulation (EU) 2022/803 as regards rules of procedure for the exercise of the power to impose fines or periodic penalty payments by the European Securities Markets Authority (ESMA) with respect to consolidated tape providers
ESMA supervisory guidelines to prevent market abuse under MiCA
On 29 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report containing supervisory guidelines on practices for Member State competent authorities (NCAs) to prevent and detect market abuse under the Regulation in markets in crypto assets (MiCA).
Objective
The guidelines apply to NCAs and are
Commission consults on the integration of EU capital markets
On 15 April 2025, the European Commission (Commission) launched a targeted consultation on the integration of European Union (EU) capital markets. The aim of the consultation is to collect feedback on obstacles to financial market integration across the EU and it is part of the Savings and Investments Union (SIU
European Commission consults on review of the ETS Directive
On 15 April 2025, the European Commission (“the Commission”) launched a public consultation on a review of Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union (ETS Directive) and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission