On 31 January 2022, the European Securities and Markets Authority (ESMA) published its final reports on the recovery regime for central counterparties (CCPs), as required under the Regulation on CCP recovery and resolution (CCPRRR). The seven final reports are intended to further assist the preparedness of the market and ensure that CCPs can restore their … Continue Reading
On 7 August 2020, the FCA updated its latest policy development update web page. In terms of upcoming FCA publications, the policy development update notes that: A consultation paper on financial crime reporting is expected in Q3 2020. A consultation paper on exit fees in investment platforms and comparable firms is expected in 2021. A … Continue Reading
On 29 July 2020, the Payment Systems Regulator (PSR) announced that it was developing its first ever future strategy. The purpose of the strategy is to define clear outcomes that the PSR wants to see in the payments sector. This will ultimately require it to make certain choices on how to prioritise its work so … Continue Reading
On 22 July 2020, HM Treasury issued a policy paper explaining the government’s rationale for extending the transitional period for third country benchmarks under the UK Benchmarks Regulation to 31 December 2025. The EU Benchmarks Regulation (BMR) has directly applied in the UK since 1 January 2018. To ensure that the existing regime continues to … Continue Reading
On 28 May 2020, Flex Ltd (“Flex”), a Singapore-based electronics manufacturer listed on the NASDAQ, disclosed in its 2020 US Securities and Exchange Commission (“SEC”) filing that it had initiated a voluntary self-disclosure to the US Office of Foreign Assets Control (“OFAC”) on 14 February 2019. The initial disclosure related to possible non-compliance with US … Continue Reading
