EU

  • 7 July 2024 – On 17 June 2024, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2024/1085 of 13 March 2024 supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) on the assessment methodology under which competent authorities verify an institution’s compliance with the requirements to use internal models for market risk. The Delegated Regulation enters into force on 7 July 2024, with the exception of Article 18(1)(a).
  • 8 July 2024 – On 18 June 2024, there was published in the OJ, Commission Delegated Regulation (EU) 2024/1728 of 6 December 2023 supplementing the CRR with regard to RTS specifying in which circumstances the conditions for identifying groups of connected clients are met. The Delegated Regulation enters into force on 8 July 2024.
  • 8 July 2024 – On 18 June 2023, five Delegated Regulations on fees charged by the European Securities and Markets Authority (ESMA) were published in the OJ. These Delegated Regulations enter into force on 8 July 2024.
  • 9 July 2024 – On 19 June 2024, there was published in the OJ, Directive (EU) 2024/1654 of the European Parliament and of the Council of 31 May 2024 amending Directive (EU) 2019/1153 as regards access by competent authorities to centralised bank account registries through the interconnection system and technical measures to facilitate the use of transaction records. The Directive enters into force on 9 July 2024.
  • 9 July 2024 – On 19 June 2024, the CRD VI and the CRR III were published in the OJ and come into force on 9 July 2024. Member States will have 18 months to transpose CRD VI into national legislation, whilst CRR III will apply from 1 January 2025 although certain points of Article 1 CRR III apply from 9 July 2024.
  • 9 July 2024 – On 19 June 2024, there was published in the OJ, Regulation (EU) 2024/1624 of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AML Regulation) and Directive (EU) 2024/1640 of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Directive (EU) 2019/1937, and amending and repealing Directive (EU) 2015/849 (MLD 6). The AML Regulation and the MLD 6 enter into force on 9 July 2024.
  • 10 July 2024 – On 12 June 2024, the European Commission (Commission) issued a consultation on a draft delegated regulation that sets out identifying reference data to be used with regard to over-the-counter (OTC) interest rate swaps and OTC credit default swaps for the purposes of the transparency requirements laid down in Article 8a(2), and Articles 10 and 21 MiFIR. The consultation closes on 10 July 2024.
  • 14 July 2024 – On 25 March 2024, Commission Implementing Regulation (EU) 2024/910 of 15 December 2023 laying down implementing technical standards (ITS) for the application of the UCITS Directive with regard to the form and content of the information to be notified in respect of the cross-border activities of UCITS, UCITS management companies, the exchange of information between competent authorities on cross-border notification letters, and amending Commission Regulation (EU) No 584/2010 was published in the OJ. The Implementing Regulation applies from 14 July 2024.

UK

  • 11 July 2024 – On 8 May 2024, the Financial Services Regulation Committee (FSRC) announced that it was launching an inquiry into the secondary international competitiveness and growth objective given to the FCA and the PRA under the Financial Services and Markets Act 2023. The FSRC is inviting written submissions to its inquiry by 11 July 2024.