The FCA published today a Policy Statement to report on the main issues arising from Consultation Paper 15/30 (Pension reforms – proposed changes to our rules and guidance) and issued the final rules and guidance. In October 2015 the FCA published Consultation Paper 15/30: Pension reforms – proposed changes to our rules and guidance (CP15/30). This …
The European Banking Authority (EBA) published today the first list of Other Systemically Important Institutions (O-SIIs) in the EU. O-SIIs are those institutions which are deemed systemically relevant in addition to Global Systemically Important Institutions (G-SIIs), already identified. The institutions have been identified by relevant authorities across the Union according to harmonised criteria provided by …
EBA publishes list of other systemically important institutions Read More »
The FCA has published the consultation paper “CP16/13: Changes to the Decision Procedure and Penalties Manual and the Enforcement Guide for the implementation of the Market Abuse Regulation”. In November 2015 the FCA published CP15/35, on its policy proposals and Handbook changes related to the implementation of the Market Abuse Regulation (EU MAR), and CP15/38, on …
The Financial Conduct Authority has today published a consultation on its proposed rules and guidance for the secondary annuity market. In March 2015 the Government announced that it would extend the pension freedoms to those who had already bought an annuity with the proceeds of their defined contribution pension savings. The government proposes to do …
The European Securities and Markets Authority (ESMA) will hold an open hearing on its Consultation Paper published on 30 March 2016 on draft Guidelines to be issued by ESMA under the remit of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (MAR). The open hearing will take place …
Bitcoin, Cryptocurrency, virtual money, Litecoin, Blockchain and so on… You may have heard these terms, but do you know what they mean? To be fair, like the technology behind it, it’s a complicated topic and it helps to get the jargon right: Bitcoin like Ripple and Litecoin and a growing number of other names (as …
The European Banking Authority (EBA) published today its final Guidelines defining how confidential information collected under the Bank Recovery and Resolution Directive (BRRD) should be disclosed in summary or collective form without identifying individual institutions or relevant entities. In developing these Guidelines, the EBA sought to foster convergent practices by: giving guidance on how confidential …
EBA publishes final Guidelines for disclosing confidential information under the BRRD Read More »
The FCA today published its key findings from the 2015 thematic review about benefits provided and received by firms conducting MiFID business, and those carrying out regulated activities in relation to a retail investment product. Among the key findings were: Hospitality provided or received did not always appear to be designed to enhance the quality of …
FCA reports on inducements and conflicts of interest thematic review Read More »
The FCA has published its Occasional Paper No. 16: “Are high-frequency traders anticipating the order flow? Cross-venue evidence from the UK market”. The background to the report is that, according to the FCA, High-frequency traders (HFTs) have received a mixed reaction from academics and practitioners with some people underlining their role as liquidity providers and others …
The FCA and the PRA have today published proposals aimed at strengthening the transparency and effectiveness of their enforcement decision-making processes. The proposals address recommendations made by HM Treasury in its ‘Review of enforcement decision-making at the financial services regulators’ and Andrew Green QC’s ‘Report into the FSA’s enforcement actions following the failure of HBOS’. …
UK regulators publish proposals to enhance enforcement decision-making processes Read More »
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