The Joint Committee of the European Supervisory Authorities (ESA) has published its final guidelines under the Wire Transfer Regulation (Regulation (EU) 2015/847) in each of the official languages of the EU. The guidelines were first published in September 2017 and include measures that payment service providers should take to detect missing or incomplete information on the […]
On 16 January 2018, the European Court of Auditors (ECA) published a report on the operational efficiency of the European Central Bank’s (ECB) crisis management for banks. The report states that although the ECB has established a substantial framework for crisis management and resources for the assessment of bank recovery plans and the supervision of […]
We have written an article for Compliance Monitor summarising the key changes PSD2 brings to UK law.
Theresa May has chaired a meeting of senior executives from a number of financial institutions to discuss the opportunities and challenges Brexit presents. She noted the UK’s aim of agreeing an implementation period by the end of March, while Philip Hammond said the Government is prioritising the needs of consumers and tax payers. For their […]
The EP’s Legislative Observatory has been updated to indicate: a date of 16 April for a hearing on MLD5; and a date of 28 February for a hearing on the IDD extension.
The EP’s legislative observatory has opened a file for the debate on delay of the implementation date for the IDD, but as at 9 January no date had been set for debate.
AFME has published a revised post-trade due diligence questionnaire to help global custodians. The new version harmonises and simplifies the DD process and now includes 20 additional questions to the original 2016 questionnaire.
ESMA has published several lists of documents and information relating to MiFID 2. It has published: a public register of derivative contracts subject to the MiFIR trading obligation a list of trading venues temporarily exempted from open access under MiFIR and a first set of position management controls for commodity derivatives. It has also decided […]
The EU has added to its list of designated persons in relation to North Korea to align its list with UN measures. The EU has already autonomously listed several others. The Council now intends to ensure swift transposition of the changes.
MiFID 2 implementation date has finally arrived. We have written an article to remind firms of the key changes and action points. FCA has also published a series of updates covering: transitional arrangements for trading venues, which confirms FCA has agreed a transitional arrangement for ICE Futures Europe and LME, such that the open access […]