The European Commission (Commission) has announced that it will vote on a proposal to amend the existing Capital Requirements Regulation (CRR) during the October II plenary session. The Commission said that the new framework for ‘simple, transparent, and standardised’ (STS) securitisations has implications for the overall prudential framework for credit institutions and investment firms. The proposal to […]
The European Security and Markets Authority (ESMA) has published the responses received to the Consultation on Guidelines on certain aspects of the MiFID II suitability requirements. The draft Guidelines are intended to implement enhanced provisions to ensure investor protection. The consultation was therefore of particular relevance to investment firms and credit institutions providing investment advice or discretionary portfolio management services. […]
After collecting responses from over 13,000 UK consumers, FCA has revealed the results of its largest tracking survey of consumer behaviour and use of retail financial products and services. Aiming to tell the financial story for six age demographics (and key themes of each life stage), the survey found that 50% of the adult population shows one […]
The Commission has published its formal request to the ESAs to report to it on the cost and past performance of the main categories of retail investment, insurance and pension products. It notes the reporting should be based on what is required under key EU legislation, and appreciates the amount of work is such that […]
ESMA has announced the launch of the second phase of its Financial Instrument Reference Database (FIRDS). It provides access to reference data that will eventually allow market participants to identify instruments subject to the MAR and MiFID 2/MiFIR reference data reporting requirements.
Steven Maijoor has spoken on the state of European financial markets. He spoke not only about Brexit, focussing on the need for a strong supervisory culture, but also on the importance of building the CMU and improving understanding of trends, risks and vulnerabilities in the financial markets. He spoke about the continuing lack of trust […]
Linda Woodall has spoken at an event to launch FCA’s Occasional Paper on the ageing population. FCA has for some years been aware that the financial services needs of older consumers are generally not being met. Not all older consumers are disadvantaged and not all have the same needs. But, while there is no “one-size-fits-all” […]
The Bond Dickinson financial services team is delighted to have achieved a Legal 500 ranking. The new directory described the team as providing ‘responsive, practical, commercial and cost-effective’ advice to a wide variety of clients within the retail sector of the financial services industry. It says that “‘Very knowledgeable’ team head Andrew Barber has ‘in-depth […]
ESMA has published a set of Q&As on post-trading issues under MiFID 2 and MiFIR. There is currently only one question, on rules for straight-through processing.