Today’s post is a true highlight as the offence of Market Abuse in the form of Manipulating Transactions has it all: Fancy jargon, hefty fines and plenty of case law, so hold tight to your seats. Curb your enthusiasm for a minute though as we first need to have a look at the definition: The …
The 7 Deadly Sins of Market Abuse (Part IV): Manipulating transactions Read More »
The European Securities and Markets Authority (ESMA) has published its final Guidelines on sound remuneration policies under the UCITS Directive and AIFMD. ESMA has also written to the European Commission, European Council and European Parliament on the proportionality principle and remuneration rules in the financial sector. The UCITS Remuneration Guidelines provide clarity on the requirements …
The European Securities and Markets Authority (ESMA) has fined the trade repository DTCC Derivatives Repository Limited (DDRL) €64,000, and issued a public notice, for negligently failing to put in place systems capable of providing regulators with direct and immediate access to derivatives trading data. This is a key requirement under the European Markets and Infrastructure …
The FCA today published a statement on peer-to-peer applications for full authorisation. The FCA stated that “this is a young and innovative market and it expects the Innovative Finance ISA, which launches on 6 April, to further increase consumers’ awareness of peer-to-peer lending (P2P). The FCA is keen to promote effective competition in this market. We …
The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) today published the joint Policy Statement PS16/11: Complaints against the Regulators (PRA PS14/16). In this Policy Statement the PRA and the FCA report on the main issues arising from PRA Consultation Paper 5/16/ FCA& Consultation Paper 16/6* ‘Complaints against the Regulators (the Bank of England, the Financial Conduct …
Rules for complaints against UK Regulators amended Read More »
The Office of the Comptroller of the Currency (OCC) has published the white paper “Supporting Responsible Innovation in the Federal Banking System”. The paper describes the OCC’s vision for responsible innovation in the federal banking system and discusses the principles that will guide the development of our framework for evaluating new and innovative financial products and services asking all stakeholders for feedback on the proposed framework. While innovation …
US regulator consults on framework for FinTech and Responsible Innovation Read More »
Welcome to Part III of our series on the seven market abuse offences as we know them in the regulatory regime of the UK. This one is a tricky one as it deals with the offence of Misuse of Information. Tricky because it is one of the two super equivalents of the seven offences (the …
The 7 Deadly Sins of Market Abuse (Part III): Misuse of information Read More »
The European Securities and Markets Authority (ESMA) has opened today a public consultation on draft guidelines under the Market Abuse Regulation (MAR). ESMA is seeking views on its proposed non-exhaustive indicative list of information expected or required to be published on commodity derivatives markets or spot markets for the purposes of determining inside information regarding …
ESMA consults on future MAR list of information regarding commodity and spot markets Read More »
The European Banking Authority (EBA) report on remuneration practices published today shows that the number of high earners in EU banks increased significantly in 2014, while the average ratio between the variable and fixed remuneration dropped significantly for high earners, as well as for all other identified staff. The report, which is part of the …
EBA reports on high earners and the effects of the bonus cap Read More »
The FCA today published PS16/10: Financial Services Compensation Scheme – Management Expenses Levy Limit 2016/17. This Policy Statement is a report on the main issues arising from CP16/3: Financial Services Compensation Scheme Management Expenses Levy Limit 2016/17, and contains the final rules. The Management Expenses Levy Limit (MELL) is set annually and jointly by the Financial Conduct Authority …
FCA reports on Financial Services Compensation Scheme Read More »
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