On 10 September 2024, the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2024 were made and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations extend:
On 4 September 2024, the Financial Conduct Authority (FCA) launched a consultation on proposed guidance for UK trade repositories (TRs) registered under Article 55 of the UK European Market Infrastructure Regulation (UK EMIR), ahead of the implementation of the new UK EMIR reporting requirements that apply from 30 September
On 7 August 2024, the Bank of England (BoE) and the Financial Conduct Authority (FCA) published a joint statement regarding their Memorandum of Understanding (MoU) on the supervision of financial market infrastructures (FMIs).
The BoE and FCA have an MoU in place to facilitate their effective supervision
On 31 July 2024, the European Banking Authority (EBA) published a letter and a provisional request for technical advice which it had received from the European Commission (Commission).
The provisional request concerns technical advice on a possible delegated act specifying the method for the determination of the amount of the fees
On 18 July 2024, the Bank of England (BoE) published two consultation papers on central counterparty (CCP) resolution – one relates to the BoE’s approach to determining commercially reasonable payments for contracts subject to a statutory tear up in CCP resolution, and the other concerns the BoE’s power to direct
On 15 July 2024, the European Securities and Markets Authority (ESMA) published a speech given by its chair, Verena Ross, at the public hearing on shortening the settlement cycle.
In her speech Ms Ross notes that shorter settlement cycles, or T+1, is a topic that keeps growing in importance particularly since ESMA published
On 12 July 2024, the Bank of England (BoE) and the Financial Conduct Authority (FCA) published an updated set of UK European Market Infrastructure Regulation (UK EMIR) reporting questions and answers (Q&As), which now includes additional topics (in Q&As 6-11) following a May 2024 consultation.
The BoE
On 12 July 2024, the Financial Markets Standards Board (FMSB) issued a transparency draft of a proposed standard for sharing standard settlement instructions (SSIs) and an addendum.
The FMSB was established in response to the Fair and Effective Markets Review in the UK with a mandate to issue clear and
On 10 July 2024, the European Securities and Markets Authority (ESMA) issued a public statement on the eligibility of uncollateralised public guarantees, public bank guarantees and commercial bank guarantees for non-financial counterparties (NFCs) acting as clearing members in light of the agreement on the proposal to amend the European Market Infrastructure
On 9 July 2024, the European Securities and Markets Authority (ESMA) issued the following consultation papers on the Central Securities Depositories Regulation (CSDR) Refit: