Category Investments

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.

Commission publishes more MiFID 2 ITS

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

FCA consults on pension transfer advice

FCA is consulting on changes to its rules on advice relating to pension transfers, with a particular focus on transfers from defined benefit to defined contribution schemes. The changes seek to ensure consumers get advice that considers all relevant factors, and include requiring transfer advice to be provided as a personal recommendation. Alongside this is […]

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 […]

John Griffith – Jones leaving the FCA

John Griffith – Jones has confirmed that he will leave both the FCA and the PSR at the end of his term of office on 31 March 2018.

IOSCO reports on order routing incentives

IOSCO has published a report looking at supervisory practices relating to incentives for order routing.  It considers how different jurisdictions require firms to manage conflicts associated with routing orders and best execution. The report focuses on: monetary incentives paid or received by brokers to or from third parties; internalisation and use of affiliated venues that […]

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.

FCA says “get your MiFID 2 applications in now”

FCA has reminded firms that they need to submit applications for authorisation and variations of permission related to MiFID 2 by 3 July, to enable FCA to consider them before 3 January 2018. If an application is not determined by then, firms may be unable to carry on relevant business until properly authorised.

BOE speaks on effects of ring-fencing for customers

In a speech by James Proudman (Executive Director, UK Deposit Takers Supervision, Prudential Regulation Authority, Bank of England),  it was discussed that the key component of the ring-fence is to provide ‘efficient resilience’ for domestic banking services (critical functions of lending, deposit-taking and payment services for retail and small corporate customers) ‘on which UK households and companies […]