Tag Archives: Commission
The European Commission has published for comment an inception impact assessment on broadening the access of centralised bank account registries under the MLD5 proposals. It asks for comments by 6 September.
The Commission has published draft guidelines on the PRIIPs KID. The guidelines aim to promote consistency by smoothing out areas of potential divergences in interpretation. Questions the guidelines address (although not in much detail), are on the derogation for the need for a single KIDfor a multi-option product, the scope of the Regulation and territorial […]
The European Commission is seeking views on the impact of extending the cross-border payments Regulation to cover all non-euro currencies in the EU. The period for comments is 4 weeks
FCA is consulting on how consumer credit firms should manage the risks inherent in staff remuneration and performance management. It has previously issued guidance covering firms in different sectors within SYSC 19, but there is no current equivalent for consumer credit firms. FCA has carried out a thematic review of 98 firms and found evidence of […]
The Commission has published its report to the EP and Council on its assessment of the AML and TF risks affecting the internal market and relating to cross-border activities. It published the report, and supporting working papers, as it heralded implementation of MLD4.
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.
The EP has published a draft report on the Action Plan for retail financial services. The report: says the EU retail financial services market is still underdeveloped and fragmented, but recognises that such a market will work only if it delivers real customer value; welcomes the Commission’s action plan working towards a single technology-enabled market; […]
The Commission has written to the EBA explaining why it plans to amend the draft RTS under PSD2 on customer authentication and standards of communication. The key areas of change are: to ensure statutory audit of the risk analysis methodology; a new exemption to the application of strong customer authentication for certain corporate payments which […]
Unsurprisingly, the European Parliament has again rejected the Commission’s proposed list of high risk third countries under MLD4.
The College of Commissioners has sent a recommendation to the Council to open Article 50 negotiations, following on from the political guidelines adopted a few days ago. The negotiating directives focus on: safeguarding the rights and status of citizens and their families; agreement on the principles of the financial settlement (before anything else); not undermining […]