Clearing and settlement

On 29 May 2024, a new statutory instrument (SI) – the Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) (Amendment) Order 2024 – was published on legislation.gov.uk, along with an explanatory memorandum.

Background to the SI

HM Treasury (HMT) made changes in May 2023, through the Financial

On 23 May 2024, the Bank of England (BoE) published a Policy Statement (PS) on its approach to statutory notice decisions for use of its requirements powers. The PS provides feedback to responses to the BoE’s consultation paper (CP) on the topic, which was published in December 2023, and

On 14 May 2024, a statutory instrument (SI) – The Markets in Financial Instruments (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2024 – was published on legislation.gov.uk.

The SI will revoke an existing equivalence decision, under Article 28(4) of the UK Markets in Financial Instruments Regulation (UK MiFIR)

On 30 April 2024, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) published a joint consultation (FCA CP24/10 and Chapter 5 of the PRA’s Occasional Consultation Paper) on consequential amendments to BTS 2016/2251. The PRA and FCA state that the proposed amendments are necessary to reflect the expected changes

On 25 April 2024, the Financial Stability Board (FSB) issued a report on financial resources and tools for central counterparty (CCP) resolution.

In the report, which incorporates feedback from a public consultation, the FSB identifies a toolbox approach as an effective means for resolution authorities to support CCP resolution. In

On 4 April 2024, the International Organisation for Securities Commissions (IOSCO) published a Consultation Report titled Evolution in the Operation, Governance and Business Models of Exchanges: Regulatory Implications and Good Practices.

The Consultation Report analyses the structural and organisational changes within exchanges. It primarily focuses on business models and ownership structures. Importantly, it

Our podcast series Split the difference explores divergence between the EU and UK regulatory regimes in the markets space. In the latest episode, Hannah Meakin, Anna Carrier, Georgia Karamani, Floortje Nagelkerke and Simon Lovegrove explore EMIR 3.0 and how the proposed new rules compare with the UK regime.

On 1 March 2024, the Financial Conduct Authority (FCA) announced it is seeking feedback alongside the Bank of England (BoE) on draft guidance for reporting under the revised UK EMIR Article 9 reporting requirements.

On 24 February 2023, the FCA and BoE jointly published Policy Statement 23/2 (PS23/2) confirming