Most people associate the Blockchain technology with Bitcoin. What they don’t know that it has already moved on to the next level of applications in Financial Services and it seems every day other subjects are added to the list of things the Blockchain might be used for. Let’s have a look at the different areas: …
Blockchain application beyond Bitcoin – More than just cryptocurrencies Read More »
The FCA is consulting on proposed changes to the Client Assets sourcebook (CASS) and the Collective Investment Schemes sourcebook (COLL), following the adoption of the Undertakings for Collective Investment in Transferable Securities V Level 2 Regulation (UCITS V Level 2 Regulation). The FCA is also consulting on minor changes to SYSC and consequential amendments in COLL …
The FCA published a statement on its assessment of the compliance of firms’ recovery plans with the Recovery and Resolution Directive (RRD) – a comprehensive recovery and resolution regime that helps firms plan for recovery from financial difficulty – and reports on areas for improvement. The FCA outlined the key areas for improvement based on its …
FCA publishes initial observations on Recovery plans Read More »
The Financial Conduct Authority (FCA) has banned Mr Peter Johnson, former compliance officer of Keydata Investment Services Ltd (Keydata), from performing any function in relation to any regulated financial activity and publicly censured him. Were it not for Mr Johnson’s serious financial hardship, the FCA would have fined him £200,000. The FCA has found that Mr …
On 18 May 2016, the Permanent Representatives Committee (Coreper) approved, on behalf of the Council, an agreement with the European Parliament on a one-year delay to new securities market rules. The one-year postponement of the transposition and application dates will affect the provision of services for investments in financial instruments and the operation of regulated …
Council confirms agreement on one-year MiFID II delay Read More »
The European Commission has adopted a delegated regulation supplementing MiFIR. This Regulation aims at specifying, in particular, the rules relating to determining liquidity for equity instruments, the rules on the provision of market data on a reasonable commercial basis, the rules on publication, order execution and transparency obligations for systematic internalisers, and the rules on supervisory …
The European Banking Authority (EBA) published today a Decision confirming the use of unsolicited credit assessments assigned by certain External Credit Assessment Institutions (ECAIs) for calculating institutions’ capital requirements. The Decision is part of the Single Rulebook in banking and will ensure regulatory harmonisation across the European Union (EU) regarding the use of unsolicited credit …
The Prudential Regulation Authority (PRA) has published policy statement PS16/16. This policy statement (PS) provides feedback to responses to Consultation Paper 34/15 ‘Implementing audit committee requirements under the revised Statutory Audit Directive’ (CP34/15). It also sets out the final rules in Appendix 1, implementing the audit committee requirements of article 39 of the Statutory Audit …
PRA implements audit committee requirements under Statutory Audit Directive Read More »
The German financial regulator BaFIN has today published its May issue of the BaFIN Journal. The regulator publishes this monthly bulletin that contains technical articles, interviews and reports on important national and international regulatory issues as well as the official announcements of insurance supervision. This month’s issue focuses amongst other topics on: Institutions that pose …
BaFIN focuses on Institutions posing systemic risk in monthly roundup Read More »
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, recently put out a news release with regard to its proposal to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” to include funding portals (see related post). FinCEN stated that its proposal seeks to ensure …
In a nutshell – US AML regulation for Crowdfunding platforms Read More »
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