On 8 March 2024, there was published in the Official Journal of the EU, Commission Implementing Regulation 2024/348 of 19 January 2024, amending the Implementing Technical Standards (ITS) laid down in Commission Implementing Regulation 2016/2070, as regards benchmark portfolios, reporting templates and reporting instructions, for the reporting referred to in Article 78(2)…

On 8 March 2024, the European Banking Authority (EBA) issued a consultation on draft guidelines on redemption plans under Articles 47 and 55 of the Markets in Crypto-Assets Regulation (MiCAR).

By way of background, under MiCAR, a redemption plan must be developed by each issuer of an asset-referenced token (ART…

In the latest episode of our Decisions Decoded podcast series, we discuss the key points from the Final Notice issued against Floris Huisamen, former director of London Capital & Finance plc (LCF). In October 2023, LCF was publicly censured for its unfair and misleading financial promotions of minibonds. In connection with this, Mr…

On 7 March 2024, Statutory Instrument 2024 No.301 – the Financial Services and Markets Act 2000 (Amendment and Transitional Provision) Order 2024 – (the SI) was published.

Background

The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (FPO) contains exemptions from the restriction on communicating financial promotions, including exemptions…

On 7 March 2024, the Bank of England’s (BoE) Executive Director for Data and Analytics Transformation and Chief Data Officer, James Benford, delivered a speech on the steps being taken by the BoE to update its data and analytics strategy.

Mr Benford explained that the BoE is carrying out a seven-step approach to…

On 6 March 2024, HM Treasury (HMT) published a consultation setting out the Government’s proposal for a new innovative market that aims to allow private companies to scale and grow, and to boost the pipeline of future initial public offerings (IPOs) in the UK.

The consultation outlines a proposal for a…

On 7 March 2024, the Basel Committee on Banking Supervision (Basel Committee) published a Consultative Document setting out proposed amendments to its assessment methodology for global systemically important banks (G-SIBs).

The proposed changes are intended to address “window-dressing” behaviour by some banks in the context of the G-SIB framework where regulatory…

On 5 March 2024, the Foreign, Commonwealth and Development Office published a post-legislative scrutiny memorandum on the Sanctions and Anti-Money Laundering Act 2018 (SAMLA). The memorandum provides a summary and preliminary assessment of the provisions and implementation of the SAMLA.

SAMLA, which received Royal Assent on 23rd May 2018, was enacted to…