On 4 February 2020, the European Securities and Markets Authority (ESMA) published amended guidelines for Member State national competent authorities (NCAs) undertaking enforcement of financial information under the Transparency Directive. ESMA’s amendments to the guidelines require NCAs to further harmonise: the way they select issuers for examination, by requiring that their selection should be based … Continue Reading
On 11 December 2019, there was published in the Official Journal of the European Union (OJ), Regulation (EU) 2019/2115 amending Directive 2014/65/EU and Regulations (EU) No 596/2014 and (EU) 2017/1129 as regards the promotion of the use of SME growth markets. The Regulation will enter into force on the twentieth day following its publication in … Continue Reading
On 9 December 2019, there was published in the Official Journal of the European Union (OJ), Commission Implementing Regulation (EU) 2019/2091 (the Amending Regulation) amending Implementing Regulation (EU) 2015/2197 with regard to closely correlated currencies in accordance with the Capital Requirements Regulation (CRR). The Amending Regulation replaces the text of the Annex to Implementing Regulation … Continue Reading
On 1 November 2019, the FCA published its latest policy development update setting out information on recent and forthcoming FCA publications.… Continue Reading
On 7 October 2019, the PRA published Occasional Consultation Paper 25/19: Occasional Consultation Paper (CP25/19). In CP25/19 the PRA proposes minor amendments to PRA Rulebook Parts, Supervisory Statements (SS), Statements of Policy (SoP) and relevant templates. In chapter 2, the PRA sets out proposals to update SS20/15: Supervising building societies’ treasury and lending activities and … Continue Reading
On 4 October 2019, the FCA published its latest policy development update setting out information on recent and forthcoming FCA publications.… Continue Reading
On 2 October 2019, the International Organization of Securities Commissions (IOSCO) published two update reports on its peer reviews of the regulation of money market funds (MMFs) and of the implementation of incentive alignment recommendations for securitisation. The reports summarises IOSCO’s sustained efforts to monitor implementation for MMFs and securitisation since it published its two … Continue Reading
On 1 October 2019, the European Securities and Markets Authority (ESMA) published its work programme for 2020. In terms of the single rulebook, the EMIR Review and the resulting EMIR Refit and EMIR 2.2 will require ESMA to develop several technical standards and technical advice. In addition, following the start of the work on the MiFID II/MIFIR … Continue Reading
The Financial Stability Board (FSB) has published: a progress report on the implementation of its action plan to assess and address the decline in correspondent banking relationships. The decline in the number of correspondent banking relationships remains a source of concern for the international community, as the number of active correspondent banks declined by 3.4% … Continue Reading
On 23 May 2019, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on the Benchmarks Regulation (BMR). The updated Q&As provide the following new questions: What information may national competent authorities rely on in an external audit report of compliance to IOSCO Principles under Article 32(2) of BMR? What … Continue Reading
On 2 May 2019, there was published in the Official Journal of the EU, the European Central Bank’s (ECB) decision concerning its supervisory fees for 2019. Annex 1 to the decision sets out the calculation of the total amount of the ECB’s supervisory fees for 2019. The split of the total amount of annual supervisory … Continue Reading
On 29 March 2019, the FCA published Handbook Notice No. 64. The Handbook Notice describes the changes to the Handbook, Binding Technical Standards and other material made by the FCA under its legislative and other statutory powers on 28 February and 28 March 2019, and by the Board of the Financial Ombudsman Service, subject to … Continue Reading