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.

FCA’s latest Policy Development Update promises, among other things: policy statement on regulatory fees and levies by the end of March; the delayed policy statement on further implementation of the FAMR; consultation on the Money Market Funds Regulation in January; the final policy statement and near final IDD rules, also in January; and consultation in […]

The ICO has fined four firms a total of £600,000: Barrington Claims Limited had made over 15 million automated calls about PPI; Newday Limited used other firms to send 44.7 million spam emails to promote its financial products to people who had subscribed to websites the other firms operated; Goody Market UK Limited, operator of […]

As part of its review into the implementation of Solvency 2, PRA has published a consultation paper on changes to insurance reporting requirements. The changes are designed to reduce the burden for Solvency 2 firms and mutuals while maintaining PRA’s ability to meet its statutory objectives and to supervise firms. The consultation paper is relevant to […]

Following its review of the contracts for difference (CFD) market, the FCA has written to the CEOs of providers and distributors of CFDs to highlight specific concerns. The letter warns that there are areas of serious concern regarding the following areas: target market identification, and alignment to the characteristics of the product; communication, oversight and […]

The FCA has published a legislative instrument that amends its Enforcement Guide to reflect the implementation of the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs Regulation). The changes to the Enforcement Guide outline the FCA’s approach to enforcement of the PRIIPs Regulation, and came into force on 4 January 2018.

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.