On 10 April 2025, the Payment Systems Regulator (PSR) published an update from its Head of Policy, Claire Simpson, regarding the next steps on the PSR’s claims management consultation and its intention to adopt Reporting Standard B by December 2026.
Key points in the update include:
On 10 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report on the technical standards specifying the criteria for establishing and assessing the effectiveness of investment firms’ order execution policies.
Background
Directive (EU) 2024/790 which amended the Markets in Financial Instruments Directive II (MiFID II ) was published
On 10 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report on systematic internaliser (SI) notification, the volume cap and transparency calculations and circuit breakers.
Background
Directive (EU) 2024/790 and Regulation (EU) 2024/791 amended both the Markets in Financial Instruments Directive II (MiFID II) and
On 9 April 2025, the European Parliament published a draft report from the Committee on Economic and Monetary Affairs (ECON) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union. Among other things the Rapporteur welcomes this
On 10 April 2025, the Financial Conduct Authority (FCA) published a statement providing an update on the Private Intermittent Securities and Capital Exchange System (PISCES) and pre-application support. The FCA is issuing this statement to provide an early update following the closure of its consultation (CP24/29) on the PISCES
On 10 April 2025, the Financial Conduct Authority announced that Nikhil Rathi had been reappointed as its chief executive.
On 10 April 2025, the Prudential Regulation Authority (PRA) published Consultation Paper 8/25 ‘Regulated fees and levies: Rates proposals for 2025/26’ (CP8/25).
CP8/25 is the PRA’s annual consultation on regulated fees and levies. The PRA’s Annual Funding Requirement (AFR) for 2025/26 is composed solely of the budgeted cost of
On 10 April 2025, the Prudential Regulation Authority (PRA) published its Business Plan 2025/26.
Among other things the Business Plan notes that:
On 9 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report on a Common Supervisory Action (CSA) on ESG disclosures under the Benchmarks Regulation (BMR).
The CSA was launched in December 2023 and sought to assess how benchmark administrators supervised in the EU comply with
On 9 April 2025, the European Securities and Markets Authority (ESMA) published a letter from its chair to Maria Luís Albuquerque (Commissioner for Financial Services and the Savings and Investments Union, DG FISMA) regarding the qualification of fractional shares under the Markets in Financial Instruments Directive II (MiFID II).
ESMA is