Category EU

Implementing Regulation on standard forms for DRSPs under MiFID 2 published in the OJ

Commission Implementing Regulation (EU) 2017/1110 of 22 June 2017 laying down implementing technical standards regarding standard forms, templates and procedures for the authorisation of DRSPs and related notifications under MiFID 2 has been published today in the Official Journal of the European Union.

Treasury makes MLR 2017 and JMLSG finalises guidance

Treasury has published the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, which were laid before Parliament late on 22 June to come into force to meet MLD4 deadlines, on 26 June. JMLSG has also published the finalised updates to its guidance, which it now needs to submit to […]

Commission publishes more MiFID 2 ITS

The ITS under MiFID 2 on the format of position reports have been published in the OJ.

Chancellor makes Mansion House Speech

Philip Hammond has given the delayed Mansion House speech. He spoke of the Government’s priorities and its commitment to delivering better public services, higher real wages and increased living standards through stronger growth, and how it needs to be delivered through rising productivity. He stressed that this means more trade, and strong trade links with […]

EIOPA publishes ORSA assessment

EIOPA has published an assessment of the first supervisory experiences of how European (re)insurance companies have implemented the own risk and solvency assessment (ORSA) process under Solvency II. The key findings are as follows: The majority of (re)insurance undertakings have made good progress in implementing the ORSA process. There is a need for a greater […]

EIOPA speaks on Brexit – “empty shells or letter boxes are not acceptable”

Gabriel Bernardino, Chairman of EIOPA, delivered a speech on opportunities, challenges and regulatory developments. Mr Bernardino concluded his speech with an explanation that EIOPA’s priority on Brexit is focused on the supervisory approach towards the insurers based in the UK seeking relocation of subsidiaries in the EU. He confirmed in his speech that empty shells or letter […]

EIOPA signs another Memorandum of Understanding with World Bank

EIOPA and the World Bank have entered into a further Memorandum of Understanding (MoU). The MoU is for a period of three years and replaces the MoU signed in 2013. The Parties intend to collaborate, with a focus on insurance, on the common projects and areas of collaboration as outlined in the MoU. The Parties’ […]

EIOPA publishes 2016 annual report

EIOPA has published its annual report which reviews its mandate and programme of work during 2016. Highlights of what EIOPA considers to be its top achievements in 2016 include: Developments of the KID for PRIIPs. EIOPA’s readiness for Solvency II reporting. EIOPA Insurance Stress Test 2016. Launch of an EU-wide thematic review of market conduct among […]

ESMA consults on MiFIR trading obligation RTS

ESMA is consulting on its draft technical standards specifying the trading obligation for derivatives under MiFIR. It has revised its previous approach, and now wants comments by 31 July on the new proposals. These include how to phase-in the trading obligation. The MiFIR trading obligation is closely linked to EMIR. Once a class of derivatives needs […]

Commission publishes more MiFID 2 standards

The RTS under MiFID 2 on information to be notified  by investment firms, market operators and credit institutions when applying for a MiFID 2 passport has been published in the OJ. The RTS include the information required for a tied agent passport notification.